Is Obion, TN 38240 a buyer’s or seller’s market?
Obion is a seller’s market. With about 2.1 months of supply and 33% 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 Obion housing market right now
In the three months ending August 31, 2026, 33% of homes in Obion, TN 38240 sold above their list price, the typical home went under contract in 59 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 6 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking rose from 0%, homes sold more slowly (42 days then) and the median sale price rose 14% to $189,918. Overall, Obion is more competitive than a year ago, so tougher for buyers.
Within Obion County, homes here sell faster, and more often over asking, than in any other ZIP code in the county.
Nearby, buyers who want less competition could look at Troy 38260 (0% sold over asking) or Rives 38253 (0% sold over asking).
Run the numbers for 38240
Nearby markets
Hornbeak 38232Balanced $148 /sq ftRives 38253Buyer’s market $91 /sq ftSouth Fulton 38257Balanced $127 /sq ftTrimble 38259 — /sq ft Browse all markets →Towns like Obion nearby
Find towns like Obion in other states →Where Obion is
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Questions about Obion real estate
Is Obion a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Obion, TN 38240 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 Obion?
The typical home went under contract in 59 days in the latest three months.
Do homes in Obion sell over asking?
33% of homes sold above their original list price, and the typical sale closed at 97.3% of the list price.
What are property taxes in Obion?
About 0.52% of a home’s value a year in Obion County, or roughly $2,080 on a $400,000 home.
What is the median home price in Obion?
The median sale price was $189,918 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