Is Ooltewah, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ooltewah has remained a Seller's Market.
Housing Prices in Ooltewah, TN
How much do homes in Ooltewah, TN cost?
Median Sold Price
$469,099
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Ooltewah was $469,099 in May 2024, up 7.8% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127.5K | - | N/A |
2 Bedrooms | $322.5K | $351.2K | +8.9% |
3 Bedrooms | $378.8K | $391.8K | +3.4% |
4 Bedrooms | $476.5K | $510K | +7.0% |
5+ Bedrooms | $630K | $640K | +1.6% |
Summary: Ooltewah housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 3.4%, 4 bedroom homes increased by 7%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Cities
Ooltewah | $435K | $469K | +7.8% |
Catoosa Springs | $262.2K | $279.9K | +6.7% |
Chattanooga | $316.8K | $326.7K | +3.1% |
Collegedale | $426.5K | $422K | -1.1% |
Mc Donald | $495K | $433.9K | -12.3% |
Housing Supply in Ooltewah, TN
How many homes are available in Ooltewah, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
339 | 351 | +3.5% |
Summary: The Ooltewah real estate market had 351 homes for sale in May 2024, a 3.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 11 | 4 | -63.6% |
3 Bedrooms | 145 | 141 | -2.8% |
4 Bedrooms | 133 | 149 | +12.0% |
5+ Bedrooms | 50 | 57 | +14.0% |
Summary: The Ooltewah housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 63.6%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 12%, and 5+ bedroom homes increased by 14%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
71 | 86 | +21.1% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
27 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Summary: A total of 86 homes were sold or pending in Ooltewah in May 2024, up by 21.1% month-over-month. Of the 86 sold homes, 44% were sold under asking, 31% were sold at asking, and 24% were sold over asking.
Days on Market for Ooltewah, TN
How long does it take to sell a home in Ooltewah, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
24 Days | 37 Days | +49.4% |
Summary: Homes in Ooltewah had an average of 37 days on market in May 2024, up by 49.4% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During May 2024, 86 homes were sold in Ooltewah; 10% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.