Is 38563, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38563 is a seller's market

Buyer's
Market

Difference Since October 2023

At the same time last year, 38563 was a Buyer's Market.

Key Takeaway

38563 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 38563, TN

How much do homes in 38563, TN cost?

Median Sold Price

$301,000

$214/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$2,500(-0.8%)

Key Takeaway

Homes in 38563 have sold for 0.8% less than they did a year ago.

Summary: The median home sold price in 38563 was $301,000 in October 2024, down 0.8% from last year, and the median price per square foot was $214.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $174.9K-
N/A
2 $164.9K$249.9K
+51.6%
3 $285K$320K
+12.3%
4 $351.7K$503K
+43.0%
5+ $351.9K-
N/A

Summary: 38563 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 51.6%, 3 bedroom homes increased by 12.3%, 4 bedroom homes increased by 43%, and 5+ bedroom homes did not change.

Median Sold Price Compared To Nearby Zip Codes

37030
+17.0%
38563
-0.8%
38560
-10.5%
38547
-15.6%

Housing Supply in 38563, TN

How many homes are available in 38563, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
118-27.3%

Summary: The 38563 real estate market had 8 homes for sale in October 2024, a 27.3% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 10
-100.0%
3 86
-25.0%
4 22
0.0%
5+ 00
0.0%

Summary: The 38563 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes decreased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
42-50.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

1 Home Was Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38563, you may be able to get a good deal. 50% of homes here sold below asking price last month.

Summary: A total of 2 homes were sold or pending in 38563 in October 2024, down by 50.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.

Days on Market for 38563, TN

How long does it take to sell a home in 38563, TN?

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 38563 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During October 2024, 2 homes were sold in 38563; 0% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 100% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 14 Days Ago

Newest Listings in 38563, TN

Nearby Markets to 38563, TN