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Is Buchanan, TN 38222 a buyer’s or seller’s market?

Buyer’s market 3 months ending August 31, 2026 · Source: Redfin

Buchanan is a buyer’s market. With about 8.2 months of supply, buyers usually have more time and more room to negotiate on price and terms.

Months of supply8.2Under 4 months = seller’s market
Sold above original list0%Share of sales, last 3 months
Median sale-to-list94.5%Sold price ÷ list price
Median days on market76Listing to accepted offer
Median price per sq ft$187▼ −23.6% vs. last year

The Buchanan housing market right now

In the three months ending August 31, 2026, 0% of homes in Buchanan, TN 38222 sold above their list price, the typical home went under contract in 76 days and there were 8.2 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. With only 7 sales, these figures can swing a lot from month to month.

Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (48 days then) and the median sale price fell 32% to $364,842. Overall, Buchanan is less competitive than a year ago, which gives buyers more room.

Within Henry County, homes here sell faster than in 67% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.

Nearby, Paris 38242 (12% sold over asking) and Springville 38256 (8% sold over asking) are even more competitive.

Run the numbers for 38222

Prefilled for 38222Can I win this house?Multiple-offer likelihood for a listing Prefilled for 38222Over-asking calculatorTypical range over list ToolOffer strength scoreHow your offer looks to a seller ToolAppraisal gapCash needed if it appraises low

Nearby markets

Cottage Grove 38224Seller’s market $152 /sq ftHenry 38231Seller’s market $120 /sq ftMansfield 38236 $155 /sq ftParis 38242Balanced $151 /sq ft Browse all markets →

Towns like Buchanan nearby

Find towns like Buchanan in other states →
Puryear, TN38251 · 11 miles away73% similarcheaper homes ($60K less) · larger Gleason, TN38229 · 30 miles away73% similarcheaper homes ($50K less) · younger residents Yuma, TN38390 · 40 miles away70% similarcheaper homes ($61K less) · smaller Springville, TN38256 · 10 miles away68% similarcheaper homes ($30K less) · larger

Where Buchanan is

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Questions about Buchanan real estate

Is Buchanan a buyer’s or seller’s market?

A buyer’s market: there were 8.2 months of supply in Buchanan, TN 38222 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 Buchanan?

The typical home went under contract in 76 days in the latest three months.

Do homes in Buchanan sell over asking?

0% of homes sold above their original list price, and the typical sale closed at 94.5% of the list price.

What are property taxes in Buchanan?

About 0.44% of a home’s value a year in Henry County, or roughly $1,760 on a $400,000 home.

What is the median home price in Buchanan?

The median sale price was $364,842 in the three months ending August 31, 2026, about $187 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