Is Signal Mountain, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Signal Mountain is a seller's market

Buyer's
Market

Difference Since May 2023

Since last year, Signal Mountain has remained a Seller's Market.

Key Takeaway

Signal Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Signal Mountain, TN

How much do homes in Signal Mountain, TN cost?

Median Sold Price

$656,666

$239/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$66,741(+11.3%)

Key Takeaway

Homes in Signal Mountain have sold for 11.3% more than they did a year ago.

Summary: The median home sold price in Signal Mountain was $656,666 in May 2024, up 11.3% from last year, and the median price per square foot was $239.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 -$510K
N/A
2 $340K$323.7K
-4.8%
3 $472.5K$470K
-0.5%
4 $662.5K$820K
+23.8%
5+ $872.5K$782.5K
-10.3%

Summary: Signal Mountain 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 decreased by 4.8%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 10.3%.

Median Sold Price Compared To Nearby Cities

Signal Mountain
+11.3%
Chattanooga
+3.1%
Walden
-7.2%

Housing Supply in Signal Mountain, TN

How many homes are available in Signal Mountain, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE
6888+29.4%

Summary: The Signal Mountain real estate market had 88 homes for sale in May 2024, a 29.4% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 11
0.0%
2 24
+100.0%
3 1829
+61.1%
4 3940
+2.6%
5+ 814
+75.0%

Summary: The Signal Mountain 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 increased by 100%, 3 bedroom homes increased by 61.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 75%.

Number of Homes Sold

Apr 2024May 2024CHANGE
1520+33.3%

Asking Price vs. Sold Price

3 Homes Were Sold
Under Asking

7 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Signal Mountain, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 20 homes were sold or pending in Signal Mountain in May 2024, up by 33.3% month-over-month. Of the 20 sold homes, 15% were sold under asking, 35% were sold at asking, and 50% were sold over asking.

Days on Market for Signal Mountain, TN

How long does it take to sell a home in Signal Mountain, TN?

Average Sale Time

May 2023May 2024CHANGE
7 Days26 Days+276.2%

Summary: Homes in Signal Mountain had an average of 26 days on market in May 2024, up by 276.2% compared to last year.

Breakdown of Home Sale Times

2 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Signal Mountain are selling fast, if you're buying plan to act quickly.

Summary: During May 2024, 20 homes were sold in Signal Mountain; 10% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 1 Day Ago

Newest Listings in Signal Mountain, TN

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