Is Henry, TN 38231 a buyer’s or seller’s market?
Henry is a seller’s market. With about 3.2 months of supply and 0% 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.
The Henry housing market right now
In the three months ending August 31, 2026, 0% of homes in Henry, TN 38231 sold above their list price, the typical home went under contract in 78 days and there were 3.2 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 2 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 (38 days then) and the median sale price rose 113% to $157,432. Overall, Henry is less competitive than a year ago, which gives buyers more room.
Within Henry County, homes here sell faster than in 50% 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 38231
Nearby markets
Buchanan 38222Buyer’s market $187 /sq ftCottage Grove 38224Seller’s market $152 /sq ftMansfield 38236 $155 /sq ftParis 38242Balanced $151 /sq ft Browse all markets →Towns like Henry nearby
Find towns like Henry in other states →Where Henry is
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Questions about Henry real estate
Is Henry a buyer’s or seller’s market?
A seller’s market: there were 3.2 months of supply in Henry, TN 38231 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 Henry?
The typical home went under contract in 78 days in the latest three months.
Do homes in Henry sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 93.5% of the list price.
What are property taxes in Henry?
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 Henry?
The median sale price was $157,432 in the three months ending August 31, 2026, about $120 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