38506
Cookeville, Tennessee
Cookeville 38506 needs watching.
The 38506 ZIP code in Cookeville, Tennessee has a median sale price of $377K, up +5.6% year-over-year. Homes spend an average of 94 days on market, with 10% of homes selling above list price.
Folio's PropIQ™ score of 61 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38506.
The Cookeville 38506 market shows measured appreciation with a median sale price of $376,950, up 5.6% year-over-year as of February 2026. Homes are averaging 94 days on market, indicating a normalized pace significantly slower than the sub-30-day frenzy of recent peak years. Only 10% of properties are closing above asking price, confirming the shift from seller dominance to a more balanced negotiating environment where list price accuracy matters.
This environment favors patient buyers with financing secured and flexible timelines to capitalize on the 94-day absorption rate. The 10% above-list figure means 90% of transactions close at or below asking, creating room for strategic offers below list price. Sellers with properly priced homes still capture the 5.6% annual appreciation, but those chasing comps from six months ago will likely sit beyond the 94-day average.
The PropIQ score of 61 signals caution, suggesting headwinds that could pressure the current 5.6% appreciation rate downward in coming quarters. With inventory sitting longer and limited bidding competition, price growth may decelerate toward flat or negative territory if days-on-market extends further. Monitor weekly new listing volumes and the percentage requiring price reductions as leading indicators of whether this 61 score deteriorates or stabilizes.
What is the median home price in 38506 Cookeville?
The median sale price in 38506 is $377K, up +5.6% year-over-year as of 2026-02-28.
How long do homes stay on the market in Cookeville 38506?
Homes in 38506 Cookeville spend an average of 94 days on market before going under contract.
Is Cookeville 38506 a good place to invest in real estate?
Folio's PropIQ™ score for 38506 is 61/100 — a Caution signal. 10% of homes sold above asking.
What does a PropIQ™ score of 61 mean for 38506?
PropIQ™ is Folio's proprietary market score combining price momentum, days-on-market velocity, inventory absorption, and investment signals into a 0–100 number. Score of 61 = Caution in 38506 Cookeville, Tennessee.