38363, Parsons, TN

The 38363 zip code of Parsons, TN has a median home value of $119,000. The home equity in this zip code is $59,000. This means that the average homeowner in this zip code has over $68,000 in equity in their home. In addition, the average home price in this zip code has increased by 8% since 2013.

There are a number of factors that could contribute to the increase in home prices in the 38363 zip code of Parsons, TN. Some potential reasons include an improving economy and increasing demand for homes due to population growth and migration. Additionally, there may be limited inventory of homes available for sale which drives up prices.

Despite these positive trends, there are also some potential risks associated with rising home prices. For example, if interest rates rise or if there is a sudden decrease in demand for homes, then prices could fall back down again. Additionally, if a homeowner decides to sell their home soon after it has increased in value significantly (due to factors such as a change in job or location), they may not be able to recoup all of their original investment unless they receive significant offers from multiple buyers.