Is Chattanooga, TN a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Chattanooga is a seller's market


Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Chattanooga, TN

How much do homes in Chattanooga, TN cost?

Median Sold Price



Based on all homes sold in the last 12 months.

Difference Since May 2023


Key Takeaway

Homes in Chattanooga have sold for 3.1% more than they did a year ago.

Summary: The median home sold price in Chattanooga was $326,777 in May 2024, up 3.1% from last year, and the median price per square foot was $195.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $275K$279.9K
2 $239K$250.3K
3 $300.2K$309.8K
4 $410.1K$428.1K
5+ $586.2K$622.4K

Summary: Chattanooga housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 6.2%.

Median Sold Price Compared To Nearby Cities

East Ridge
Red Bank

Housing Supply in Chattanooga, TN

How many homes are available in Chattanooga, TN?

Number of Homes For Sale

Apr 2024May 2024CHANGE

Summary: The Chattanooga real estate market had 1,590 homes for sale in May 2024, a 5.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 7782
2 330314
3 687745
4 316353
5+ 9396

Summary: The Chattanooga housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 6.5%, 2 bedroom homes decreased by 4.8%, 3 bedroom homes increased by 8.4%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes increased by 3.2%.

Number of Homes Sold

Apr 2024May 2024CHANGE

Asking Price vs. Sold Price

165 Homes Were Sold
Under Asking

120 Homes Were Sold
At Asking

95 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Chattanooga, you may be able to get a good deal. 43.4% of homes here sold below asking price last month.

Summary: A total of 380 homes were sold or pending in Chattanooga in May 2024, down by 2.1% month-over-month. Of the 380 sold homes, 43% were sold under asking, 32% 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

May 2023May 2024CHANGE
19 Days27 Days+40.9%

Summary: Homes in Chattanooga had an average of 27 days on market in May 2024, up by 40.9% compared to last year.

Breakdown of Home Sale Times

41 Homes Were Sold
Under 30 Days

11 Homes Were Sold
In 30 - 90 Days

6 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 380 homes were sold in Chattanooga; 11% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 2% 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 23 Days Ago

Newest Listings in Chattanooga, TN

Nearby Markets to Chattanooga, TN

What housing markets are near Chattanooga, TN?