38221 Housing Market Report March 2025•Benton County, Tennessee

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Housing Prices in 38221, TN

How much do homes in 38221, TN cost?

Housing Market Conditions

Is 38221, TN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

38221 is a Seller's Market

Difference Since February 2025

Last month, 38221 was a Buyer's Market.

Insight

38221 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$472,500$205/SqFt
-$147,500
-23.8%

Based on all homes sold in March 2025

Insight

Homes in 38221 have sold for 23.8% less than they did a month ago.

Summary: The median home sold price in 38221 was $472,500 in March 2025, down 23.8% from last month, and the median price per square foot was $205.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsFeb 2025Mar 2025Change MoM
1--
N/A
2--
N/A
3-$450K
N/A
4-$654K
N/A
5$620K-
N/A

Summary: 38221 housing price by bedroom type for March 2025, compared to the previous month. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes did not change. The home price for 3 bedroom homes did not change. The home price for 4 bedroom homes did not change. The home price for 5 bedroom homes did not change.

How does 38221, TN compare with other places?

Market comparison tool

Data and numbers shown are subject to change and may vary based on different timeframes.

38221, TN

Housing supply in 38221, TN

How many homes are available in 38221, TN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
17Last MonthMar 2025
132 months agoFeb 2025
+30.8 %
Change MoMFeb – Mar

Summary: The 38221 real estate market had 17 homes for sale in Mar 2025, a 30.8 % increase compared to Feb 2025.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
4Last MonthMar 2025
12 months agoFeb 2025
+300.0 %
Change MoMFeb – Mar

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsFeb 2025Mar 2025Change MoM
100
0.0%
222
0.0%
3813
+62.5%
422
0.0%
510
-100.0%

Summary: 38221 housing inventory by bedroom type for March 2025, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes remained the same. The inventory for 3 bedroom homes increased by +62.5%. The inventory for 4 bedroom homes remained the same. The inventory for 5 bedroom homes decreased by -100.0%.

Asking Price vs. Sold Price

How much do homes in 38221, TN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price0 Home

At Asking Price0 Home

Under Asking Price4 Homes

Insight

If you're buying a home in 38221, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in 38221 in March 2025, up by 300.0% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and and 0% were sold over asking.

Days on Market for 38221, TN

How long does it take to sell a home in 38221, TN?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days2 Homes

Over 90 Days1 Home

Insight

Avg time on Rocket Homes in 38221 has remained consistent over time.

Summary: During March 2025, 4 homes were sold in 38221; 25% of homes were sold within 30 days, 50% of homes were sold within 30 to 90 days, and 25% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
Last Month1 month agoChange MoM
114 DaysLast MonthMar 2025
34 Days1 month agoFeb 2025
+236.8 %
Change MoMFeb – Mar

Summary: Homes in 38221 had an average listing age of 114 days in Mar 2025, up by 236.8% compared to the previous month.

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Newest Listings in 38221, TN

What homes are available in 38221, TN?

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MLS Disclaimers and Copyright

Based on information from RealTracs Middle Tennessee Regional MLS, Memphis MLS, and East Tennessee REALTORS® MLS for the period 02/01/2025 - 04/01/2025

IDX 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.

IDX© 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: 4/28/2025, 2:18:54 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 4/28/2025, 2:20:52 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX 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.

The Knoxville Area Association of REALTORS® Multiple Listing Service does not create, control or review the property data displayed herein and take no responsibility for the content of such records. Federal law prohibits discrimination on the basis of race, color, religion, sex, handicap, familial status or national origin in the sale, rental or financing of housing.

Information deemed reliable but not guaranteed. This information is updated daily, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.

Copyright © 2025 Knoxville Area Association of REALTORS® Multiple Listing Service.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/28/2025, 2:20:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.