New - 54 minutes on Rocket
$4,511 Closing Credit¹
#10191365, Listing Office: Crye-Leike, Inc., REALTORS
38117 Housing Market Report February 2025•Shelby County, Tennessee
Housing Prices in 38117, TN
How much do homes in 38117, TN cost?
Housing Market Conditions
Is 38117, TN a buyer’s or seller’s market?
Seller'sMarket
Buyer'sMarket
38117 is a Buyer's Market
Difference Since January 2025
Last month, 38117 was a Neutral Market.
Insight
38117 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Median Sold Price
$301,500$97/SqFt
+$26,500
+9.6%
Based on all homes sold in February 2025
Insight
Homes in 38117 have sold for 9.6% more than they did a month ago.
Summary: The median home sold price in 38117 was $301,500 in February 2025, up 9.6% from last month, and the median price per square foot was $97.
Median Sold Price By Bedrooms
| Beds | Jan 2025 | Feb 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | - | - | N/A |
| 22 Bedrooms | $209.5K | $175.2K | -16.4% |
| 33 Bedrooms | $250K | $301.5K | +20.6% |
| 44 Bedrooms | $360.7K | $315K | -12.7% |
| 55+ Bedrooms | $1.5M | $1.6M | +6.9% |
Summary: 38117 housing price by bedroom type for February 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -16.4%. The home price for 3 bedroom homes increased by +20.6%. The home price for 4 bedroom homes decreased by -12.7%. The home price for 5 bedroom homes increased by +6.9%.
Housing supply in 38117, TN
How many homes are available in 38117, TN?
Number of Homes For Sale
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 211Last MonthFeb 2025 | ||
| 1952 months agoJan 2025 | +8.2 % Change MoMJan – Feb |
Summary: The 38117 real estate market had 211 homes for sale in Feb 2025, a 8.2 % increase compared to Jan 2025.
Number of Homes Sold
| Last Month | 2 months ago | Change MoM |
|---|---|---|
| 22Last MonthFeb 2025 | ||
| 302 months agoJan 2025 | -26.7 % Change MoMJan – Feb |
Homes For Sale By Bedroom Count
| Beds | Jan 2025 | Feb 2025 | Change MoM |
|---|---|---|---|
| 11 Bedroom | 0 | 1 | +100.0% |
| 22 Bedrooms | 18 | 20 | +11.1% |
| 33 Bedrooms | 110 | 119 | +8.2% |
| 44 Bedrooms | 44 | 45 | +2.3% |
| 55+ Bedrooms | 23 | 26 | +13.0% |
Summary: 38117 housing inventory by bedroom type for February 2025, compared to the previous month. The inventory for 1 bedroom homes increased by +100.0%. The inventory for 2 bedroom homes increased by +11.1%. The inventory for 3 bedroom homes increased by +8.2%. The inventory for 4 bedroom homes increased by +2.3%. The inventory for 5 bedroom homes increased by +13.0%.
Asking Price vs. Sold Price
How much do homes in 38117, TN cost?
Over Asking Price3 Homes
At Asking Price3 Homes
Under Asking Price16 Homes
Insight
If you're buying a home in 38117, you may be able to get a good deal. 72.7% of homes here sold below asking price last month.
Summary: A total of 22 homes were sold or pending in 38117 in February 2025, down by 26.7% month-over-month. Of the 22 sold homes, 73% were sold under asking, 14% were sold at asking, and and 14% were sold over asking.
Days on Market for 38117, TN
How long does it take to sell a home in 38117, TN?
Breakdown of Home Sale Times
Under 30 Days0 Home
30 – 90 Days1 Home
Over 90 Days0 Home
Insight
Avg time on Rocket Homes in 38117 has remained consistent over time.
Summary: During February 2025, 22 homes were sold in 38117; 0% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Average Sale Time
| Last Month | 1 month ago | Change MoM |
|---|---|---|
| 69 DaysLast MonthFeb 2025 | ||
| 0 Days1 month agoJan 2025 | 0.0 % Change MoMJan – Feb |
Summary: Homes in 38117 had an average listing age of 69 days in Feb 2025, down by .0% compared to the previous month.
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Newest Listings in 38117, TN
What homes are available in 38117, TN?
New - 20 hours on Rocket
$2,719 Closing Credit¹
#10191311, Listing Office: Marx-Bensdorf, REALTORS
New - 23 hours on Rocket
$5,166 Closing Credit¹
#10191299, Listing Office: BHHS McLemore & Co., Realty
New - 1 day on Rocket
$8,728 Closing Credit¹
#10191286, Listing Office: Crye-Leike, Inc., REALTORS
New - 1 day on Rocket
$2,304 Closing Credit¹
#10191245, Listing Office: Myers Cobb Realtors, LLC
New - 1 day on Rocket
$4,452 Closing Credit¹
#10191229, Listing Office: Fast Track Realty, LLC
New - 2 days on Rocket
$3,503 Closing Credit¹
#10191182, Listing Office: Emmett Baird Realty, LLC
New - 3 days on Rocket
$6,163 Closing Credit¹
#10191136, Listing Office: homecoin.com
New - 5 days on Rocket
$2,672 Closing Credit¹
#10191058, Listing Office: Crye-Leike, Inc., REALTORS
New - 5 days on Rocket
$3,800 Closing Credit¹
#10191035, Listing Office: Fast Track Realty, LLC
New - 5 days on Rocket
$4,370 Closing Credit¹
#10191022, Listing Office: BHHS McLemore & Co., Realty
New - 5 days on Rocket
$10,000 Closing Credit¹
#10191023, Listing Office: The Firm
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MLS Disclaimers and Copyright
Based on information from Memphis MLS, and RealTracs Middle Tennessee Regional MLS for the period 01/01/2025 - 03/01/2025
Copyright© 2025 Memphis Area Association of REALTORS. The information provided is for the consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties that the consumer may be interested in purchasing. Information deemed reliable, but is not guaranteed accurate. Some or all of the listings displayed may not belong to the firm whose web site is being visited.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 3:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 3:20:53 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Properties displayed may be listed or sold by various participants in the MLS.
© 2025 of the REALTRACS MLS. All rights Reserved. The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.
REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing 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.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 3/6/2025, 3:18:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.