Is Chattanooga, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Chattanooga has remained a Seller's Market.
Housing Prices in Chattanooga, TN
How much do homes in Chattanooga, TN cost?
Median Sold Price
$327,586
$197/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Chattanooga was $327,586 in June 2024, up 2.8% from last year, and the median price per square foot was $197.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $267K | $279.9K | +4.8% |
2 Bedrooms | $240K | $248.5K | +3.5% |
3 Bedrooms | $300.4K | $310K | +3.2% |
4 Bedrooms | $414.5K | $429.8K | +3.7% |
5+ Bedrooms | $570K | $622.4K | +9.2% |
Summary: Chattanooga housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 3.5%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 9.2%.
Median Sold Price Compared To Nearby Cities
East Ridge | $249.9K | $269.6K | +7.9% |
Red Bank | $312K | $329K | +5.4% |
Chattanooga | $318.7K | $327.5K | +2.8% |
Housing Supply in Chattanooga, TN
How many homes are available in Chattanooga, TN?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
1,502 | 1,507 | 0.3% |
Summary: The Chattanooga real estate market had 1,507 homes for sale in June 2024, a 0.3% increase compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 77 | 85 | +10.4% |
2 Bedrooms | 276 | 275 | -0.4% |
3 Bedrooms | 715 | 735 | +2.8% |
4 Bedrooms | 345 | 320 | -7.2% |
5+ Bedrooms | 89 | 92 | +3.4% |
Summary: The Chattanooga housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 10.4%, 2 bedroom homes decreased by 0.4%, 3 bedroom homes increased by 2.8%, 4 bedroom homes decreased by 7.2%, and 5+ bedroom homes increased by 3.4%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
418 | 324 | -22.5% |
Asking Price vs. Sold Price
155 Homes Were Sold
Under Asking
87 Homes Were Sold
At Asking
82 Homes Were Sold
Over Asking
Summary: A total of 324 homes were sold or pending in Chattanooga in June 2024, down by 22.5% month-over-month. Of the 324 sold homes, 48% were sold under asking, 27% were sold at asking, and 25% were sold over asking.
Days on Market for Chattanooga, TN
How long does it take to sell a home in Chattanooga, TN?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
26 Days | 30 Days | +12.9% |
Summary: Homes in Chattanooga had an average of 30 days on market in Jun 2024, up by 12.9% compared to last year.
Breakdown of Home Sale Times
50 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
10 Homes Were Sold
Over 90 Days
Summary: During June 2024, 324 homes were sold in Chattanooga; 15% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.