38506 Housing Market Report March 2025•Putnam County, Tennessee

hero building illustration for mobile

Housing Prices in 38506, TN

How much do homes in 38506, TN cost?

Housing Market Conditions

Is 38506, 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

38506 is a Neutral Market

Difference Since March 2024

At the same time last year, 38506 was a Seller's Market.

Insight

38506 is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

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.
$361,719$200/SqFt
+$1,731
0.5%

Based on all homes sold in the last 12 months

Insight

The sold price of homes in 38506 has remained the same since last year.

Summary: The median home sold price in 38506 was $361,719 in March 2025, up 0.5% from last year, and the median price per square foot was $200.

Median Sold Price By Zip Codes

Median Sold Price By Zip Codes
This is the middle price for which all homes in the area were sold compared to surrounding cities. Half of all the homes sold were below this price, and half were above.
CityChange YoY
38501
+6.8%
38580
+3.8%
38506
0.5%
38544
0.0%
38570
-6.7%

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.
BedsMar 2024Mar 2025Change YoY
1$213K$347K
+62.9%
2$192.5K$220K
+14.3%
3$342.2K$340K
-0.7%
4$408K$458.7K
+12.4%
5$540K$404.9K
-25.0%

Summary: 38506 housing price by bedroom type for March 2025, compared to the previous year. The home price for 1 bedroom homes increased by +62.9%. The home price for 2 bedroom homes increased by +14.3%. The home price for 3 bedroom homes decreased by -0.7%. The home price for 4 bedroom homes increased by +12.4%. The home price for 5 bedroom homes decreased by -25.0%.

How does 38506, TN compare with other places?

Market comparison tool

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

38506, TN

Housing supply in 38506, TN

How many homes are available in 38506, 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
313Last MonthMar 2025
2712 months agoFeb 2025
+15.5 %
Change MoMFeb – Mar

Summary: The 38506 real estate market had 313 homes for sale in Mar 2025, a 15.5 % 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
51Last MonthMar 2025
472 months agoFeb 2025
+8.5 %
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
111
0.0%
2817
+112.5%
3190210
+10.5%
45970
+18.6%
51315
+15.4%

Summary: 38506 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 increased by +112.5%. The inventory for 3 bedroom homes increased by +10.5%. The inventory for 4 bedroom homes increased by +18.6%. The inventory for 5 bedroom homes increased by +15.4%.

Asking Price vs. Sold Price

How much do homes in 38506, 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 Price6 Homes

At Asking Price14 Homes

Under Asking Price31 Homes

Insight

If you're buying a home in 38506, you may be able to get a good deal. 60.8% of homes here sold below asking price last month.

Summary: A total of 51 homes were sold or pending in 38506 in March 2025, up by 8.5% month-over-month. Of the 51 sold homes, 61% were sold under asking, 27% were sold at asking, and and 12% were sold over asking.

Days on Market for 38506, TN

How long does it take to sell a home in 38506, TN?

Breakdown of Home Sale Times

Under 30 Days8 Homes

30 – 90 Days20 Homes

Over 90 Days23 Homes

Insight

Most homes in 38506 are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During March 2025, 51 homes were sold in 38506; 16% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 45% 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.
This Year1 year agoChange YoY
91 DaysThis YearMar 2025
54 Days1 year agoMar 2024
+67.0 %
Change YoYMar 2024 – Mar 2025

Summary: Homes in 38506 had an average listing age of 91 days in Mar 2025, up by 67.0% compared to the previous year.

Connect With An Agent

Local real estate agents are ready to help you find a home here

Sell My Home

Sell your home with an expert or get the job done on your own.

Get Approved

Get a customizable mortgage solution based on today's rates.

Newest Listings in 38506, TN

What homes are available in 38506, TN?

See More Listings

Nearby markets

Popular Cities with Homes for Sale in Tennessee

MLS Disclaimers and Copyright

Based on information from Upper Cumberland MLS, RealTracs Middle Tennessee Regional MLS, and East Tennessee REALTORS® MLS for the period 04/01/2023 - 04/01/2025

© 2025 Upper Cumberland Board of Realtors. All rights reserved. The data relating to real estate for sale on this website comes from Upper Cumberland Board of Realtors. Information is for personal, non-commercial use by viewers of this site and may not be reproduced or redistributed. Information deemed to be reliable but not guaranteed.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 4/15/2025, 11:15:58 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
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: 4/15/2025, 11:18:49 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: 4/15/2025, 11:20:56 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.