Is 38587, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing 38587 is a seller's market

Buyer's
Market

Difference Since Last Month

Last month, 38587 was a Buyer's Market.

Key Takeaway

38587 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in 38587, TN

How much do homes in 38587, TN cost?

Median Sold Price

$349,900

$166/sqft

Based on all homes sold in November 2024.

Difference Since Last Month

-$115,100(-24.8%)

Key Takeaway

Homes in 38587 have sold for 24.8% less than they did a month ago.

Summary: The median home sold price in 38587 was $349,900 in November 2024, down 24.8% from last month, and the median price per square foot was $166.

Median Sold Price By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 --
N/A
2 $465K-
N/A
3 -$350K
N/A
4 --
N/A
5+ -$349.9K
N/A

Summary: 38587 housing prices by bedroom type for November 2024 compared to the previous month: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes did not change, 4 bedroom homes did not change, and 5+ bedroom homes did not change.

Housing Supply in 38587, TN

How many homes are available in 38587, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
87-12.5%

Summary: The 38587 real estate market had 7 homes for sale in November 2024, a 12.5% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 22
0.0%
2 10
-100.0%
3 33
0.0%
4 00
0.0%
5+ 22
0.0%

Summary: The 38587 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
13+200.0%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

2 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in 38587, expect to pay close to the asking price. 66.7% of homes here sold near the asking price last month.

Summary: A total of 3 homes were sold or pending in 38587 in November 2024, up by 200.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 67% were sold at asking, and 0% were sold over asking.

Days on Market for 38587, TN

How long does it take to sell a home in 38587, TN?

Average Sale Time

Oct 2024Nov 2024CHANGE
128 Days103 Days-19.0%

Summary: Homes in 38587 had an average of 103 days on market in Nov 2024, down by 19% compared to last month.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in 38587 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2024, 3 homes were sold in 38587; 0% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 67% 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 21 Days Ago

Newest Listings in 38587, TN

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