Is 38585, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38585 is a buyer's market

Buyer's
Market

Difference Since Last Month

Last month, 38585 was a Seller's Market.

Key Takeaway

38585 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in 38585, TN

How much do homes in 38585, TN cost?

Median Sold Price

$64,000

$80/sqft

Based on all homes sold in October 2024.

Difference Since Last Month

-$120,900(-65.4%)

Key Takeaway

Homes in 38585 have sold for 65.4% less than they did a month ago.

Summary: The median home sold price in 38585 was $64,000 in October 2024, down 65.4% from last month, and the median price per square foot was $80.

Median Sold Price By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 --
N/A
2 $355K$64K
-82.0%
3 $182K-
N/A
4 --
N/A
5+ $184.9K-
N/A

Summary: 38585 housing prices by bedroom type for October 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 82%, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 38585, TN

How many homes are available in 38585, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
29290.0%

Summary: The 38585 real estate market had 29 homes for sale in October 2024, the same as September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 31
-66.7%
3 1820
+11.1%
4 55
0.0%
5+ 33
0.0%

Summary: The 38585 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 66.7%, 3 bedroom homes increased by 11.1%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
51-80.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38585, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 1 homes were sold or pending in 38585 in October 2024, down by 80.0% month-over-month. Of the 1 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.

Days on Market for 38585, TN

How long does it take to sell a home in 38585, TN?

Average Sale Time

Sep 2024Oct 2024CHANGE
64 Days10 Days-84.5%

Summary: Homes in 38585 had an average of 10 days on market in Oct 2024, down by 84.5% compared to last month.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in 38585 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 1 homes were sold in 38585; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in 38585, TN

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