Is 38572, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38572 is a buyer's market

Buyer's
Market

Difference Since November 2023

At the same time last year, 38572 was a Neutral Market.

Key Takeaway

38572 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38572, TN

How much do homes in 38572, TN cost?

Median Sold Price

$281,000

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$6,100(+2.2%)

Key Takeaway

Homes in 38572 have sold for 2.2% more than they did a year ago.

Summary: The median home sold price in 38572 was $281,000 in November 2024, up 2.2% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $95.7K$105K
+9.7%
2 $272.5K$272.5K
0.0%
3 $305K$315K
+3.3%
4 $330K$452.5K
+37.1%
5+ $364.4K$727K
+99.5%

Summary: 38572 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 9.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 37.1%, and 5+ bedroom homes increased by 99.5%.

Median Sold Price Compared To Nearby Zip Codes

38555
+10.5%
37367
+8.2%
38571
+6.5%
38572
+2.2%

Housing Supply in 38572, TN

How many homes are available in 38572, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
129131+1.6%

Summary: The 38572 real estate market had 131 homes for sale in November 2024, a 1.6% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 1114
+27.3%
2 5448
-11.1%
3 5556
+1.8%
4 812
+50.0%
5+ 11
0.0%

Summary: The 38572 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 27.3%, 2 bedroom homes decreased by 11.1%, 3 bedroom homes increased by 1.8%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
1415+7.1%

Asking Price vs. Sold Price

11 Homes Were Sold
Under Asking

4 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38572, you may be able to get a good deal. 73.3% of homes here sold below asking price last month.

Summary: A total of 15 homes were sold or pending in 38572 in November 2024, up by 7.1% month-over-month. Of the 15 sold homes, 73% were sold under asking, 27% were sold at asking, and 0% were sold over asking.

Days on Market for 38572, TN

How long does it take to sell a home in 38572, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
24 Days63 Days+159.4%

Summary: Homes in 38572 had an average of 63 days on market in Nov 2024, up by 159.4% compared to last year.

Breakdown of Home Sale Times

7 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 38572 are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 15 homes were sold in 38572; 47% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 27% 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 22 Days Ago

Newest Listings in 38572, TN

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