Is Milan, TN 38358 a buyer’s or seller’s market?
Milan is a balanced market. With about 4.5 months of supply, well-priced homes can still draw more than one offer, but buyers have some room to negotiate.
More competitive than 28% of U.S. ZIP codes, and #136 of 299 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 August 31, 2026. See the breakdown
The Milan housing market right now
In the three months ending August 31, 2026, 14% of homes in Milan, TN 38358 sold above their list price, the typical home went under contract in 41 days and there were 4.5 months of supply. Four to six months of supply is a balanced market, where pricing and condition decide how much room there is to negotiate. That’s based on 36 home sales.
Compared with the same period a year earlier, the share selling over asking fell from 30%, homes sold more slowly (28 days then) and the median sale price rose 24% to $234,898. Overall, Milan is less competitive than a year ago, which gives buyers more room.
Within Gibson County, homes here sell faster than in 83% of the county’s ZIP codes, and sell more often over asking than in 83%. On our competition score, Milan ranks #136 of 299 TN ZIP codes with enough sales (score 31 out of 100).
Nearby, buyers who want less competition could look at Dyer 38330 (0% sold over asking) or Bradford 38316 (0% sold over asking).
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Nearby markets
Bradford 38316Balanced $192 /sq ftDyer 38330Seller’s market $105 /sq ftGibson 38338 — /sq ftHumboldt 38343Seller’s market $147 /sq ft Browse all markets →Towns like Milan nearby
Find towns like Milan in other states →Where Milan is
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Questions about Milan real estate
Is Milan a buyer’s or seller’s market?
A balanced market: there were 4.5 months of supply in Milan, TN 38358 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 Milan?
The typical home went under contract in 41 days in the latest three months.
Do homes in Milan sell over asking?
14% of homes sold above their original list price, and the typical sale closed at 96.7% of the list price.
What are property taxes in Milan?
About 0.66% of a home’s value a year in Gibson County, or roughly $2,640 on a $400,000 home.
What is the median home price in Milan?
The median sale price was $234,898 in the three months ending August 31, 2026, about $152 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