Is Iron City, TN 38463 a buyer’s or seller’s market?
Iron City is a buyer’s market. With about 12.8 months of supply, buyers usually have more time and more room to negotiate on price and terms.
The Iron City housing market right now
In the three months ending August 31, 2026, 0% of homes in Iron City, TN 38463 sold above their list price, the typical home went under contract in 133 days and there were 12.8 months of supply. More than six months of supply favors buyers, who usually have more time and more room to negotiate. 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 (105 days then) and the median sale price rose 135% to $293,623. Overall, Iron City is less competitive than a year ago, which gives buyers more room.
Within Wayne County, homes here sell more slowly than in 80% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Clifton 38425 (33% sold over asking) and Waynesboro 38485 (17% sold over asking) are even more competitive.
Run the numbers for 38463
Nearby markets
Clifton 38425Buyer’s market $200 /sq ftCollinwood 38450Seller’s market $200 /sq ftCypress Inn 38452Buyer’s market $216 /sq ftLutts 38471 $196 /sq ft Browse all markets →Towns like Iron City nearby
Find towns like Iron City in other states →Where Iron City is
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Questions about Iron City real estate
Is Iron City a buyer’s or seller’s market?
A buyer’s market: there were 12.8 months of supply in Iron City, TN 38463 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 Iron City?
The typical home went under contract in 133 days in the latest three months.
Do homes in Iron City sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 91.4% of the list price.
What are property taxes in Iron City?
About 0.49% of a home’s value a year in Wayne County, or roughly $1,960 on a $400,000 home.
What is the median home price in Iron City?
The median sale price was $293,623 in the three months ending August 31, 2026, about $118 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