38242
Paris, Tennessee
Paris 38242 needs watching.
The 38242 ZIP code in Paris, Tennessee has a median sale price of $189K, down -17.8% year-over-year. Homes spend an average of 88 days on market, with 3% of homes selling above list price.
Folio's PropIQ™ score of 41 signals Caution conditions. Elevated price drops and longer days on market indicate softening in 38242.
The Paris, TN 38242 market shows clear buyer advantage with the median sale price at $189,000 following a sharp 17.8% year-over-year decline. Homes are averaging 87.5 days on market, well above the velocity seen in balanced conditions. Only 3% of properties are selling above list price, indicating minimal competitive pressure and substantial room for negotiation. This contraction marks a significant shift from previous pricing levels, creating a fundamentally different transaction environment than existed twelve months ago.
Price-sensitive first-time buyers and patient investors gain maximum leverage in these conditions. The 17.8% price reduction effectively erases nearly two years of appreciation in many comparable markets, while extended 87.5-day marketing periods allow for thorough due diligence and multiple property evaluation. Cash buyers can negotiate aggressively given the 3% above-list metric. Sellers face prolonged timelines and should expect offers 5-10% below list based on current absorption rates, making this period challenging for those requiring quick liquidity or specific price targets.
The PropIQ score of 41 signals caution, suggesting continued price pressure through the next quarter. With less than one-twentieth of homes commanding premiums, expect the median to test $180,000 unless days-on-market compress below 75. Buyers should monitor inventory levels weekly; any increase beyond current active listings would accelerate the downward trend. Stability requires DOM reduction to 60-day range and above-list transactions reaching 15% minimum before confidence returns to this ZIP code.
What is the median home price in 38242 Paris?
The median sale price in 38242 is $189K, down -17.8% year-over-year as of 2026-02-28.
How long do homes stay on the market in Paris 38242?
Homes in 38242 Paris spend an average of 88 days on market before going under contract.
Is Paris 38242 a good place to invest in real estate?
Folio's PropIQ™ score for 38242 is 41/100 — a Caution signal. 3% of homes sold above asking.
What does a PropIQ™ score of 41 mean for 38242?
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 41 = Caution in 38242 Paris, Tennessee.