Is Drummonds, TN 38023 a buyer’s or seller’s market?
Drummonds is a seller’s market. With about 1.6 months of supply and 14% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
More competitive than 51% of U.S. ZIP codes, and #17 of 315 in the state.
Based on share sold above original list, sale-to-list ratio, months of supply and days on market for the 3 months ending July 31, 2026. See the breakdown
The Drummonds housing market right now
In the three months ending August 31, 2026, 14% of homes in Drummonds, TN 38023 sold above their list price, the typical home went under contract in 23 days and there were 1.6 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. That’s based on 14 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 40%, homes sold faster (43 days then) and the median sale price fell 38% to $314,864. Overall, Drummonds is less competitive than a year ago, which gives buyers more room.
Within Tipton County, homes here sell faster than in 60% of the county’s ZIP codes, and sell less often over asking than in 60%.
Nearby, buyers who want less competition could look at Covington 38019 (4% sold over asking) or Atoka 38004 (7% sold over asking), while Munford 38058 (17% sold over asking) and Burlison 38015 (17% sold over asking) are even more competitive.
Run the numbers for 38023
Nearby markets
Atoka 38004Buyer’s market $151 /sq ftBrighton 38011Seller’s market $160 /sq ftBurlison 38015Balanced $188 /sq ftCovington 38019Balanced $131 /sq ft Browse all markets →Towns like Drummonds nearby
Find towns like Drummonds in other states →Where Drummonds is
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Questions about Drummonds real estate
Is Drummonds a buyer’s or seller’s market?
A seller’s market: there were 1.6 months of supply in Drummonds, TN 38023 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Drummonds?
The typical home went under contract in 23 days in the latest three months.
Do homes in Drummonds sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 96.4% of the list price.
What are property taxes in Drummonds?
About 0.50% of a home’s value a year in Tipton County, or roughly $2,000 on a $400,000 home.
What is the median home price in Drummonds?
The median sale price was $314,864 in the three months ending August 31, 2026, about $173 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology