$4,311 Closing Credit*
$363,000
1,760 SqFt
3 Beds
•2 Full Baths
Listing Office: Highlands Elite Real Estate
Is 38571, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, 38571 was a Seller's Market.
Key Takeaway
38571 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in 38571, TN
How much do homes in 38571, TN cost?
Median Sold Price
$340,000
$187/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$15,500(+4.8%)
Key Takeaway
Homes in 38571 have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in 38571 was $340,000 in October 2024, up 4.8% from last year, and the median price per square foot was $187.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $90K | $70K | -22.2% |
| 2 Bedrooms | $221.7K | $168K | -24.2% |
| 3 Bedrooms | $328K | $348.5K | +6.3% |
| 4 Bedrooms | $352.1K | $370K | +5.1% |
| 5+ Bedrooms | $1.0M | $475K | -52.5% |
Summary: 38571 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.2%, 2 bedroom homes decreased by 24.2%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 5.1%, and 5+ bedroom homes decreased by 52.5%.
Housing Supply in 38571, TN
How many homes are available in 38571, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 88 | 98 | +11.4% |
Summary: The 38571 real estate market had 98 homes for sale in October 2024, a 11.4% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 24 | 24 | 0.0% |
| 3 Bedrooms | 52 | 59 | +13.5% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The 38571 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 remained the same, 3 bedroom homes increased by 13.5%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 8 | 15 | +87.5% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in 38571, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in 38571 in October 2024, up by 87.5% month-over-month. Of the 15 sold homes, 67% were sold under asking, 27% were sold at asking, and 7% were sold over asking.
Days on Market for 38571, TN
How long does it take to sell a home in 38571, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 45 Days | 71 Days | +57.3% |
Summary: Homes in 38571 had an average of 71 days on market in Oct 2024, up by 57.3% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in 38571 are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 15 homes were sold in 38571; 33% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.