Is East Ridge, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, East Ridge has remained a Seller's Market.
Housing Prices in East Ridge, TN
How much do homes in East Ridge, TN cost?
Median Sold Price
$265,166
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in East Ridge was $265,166 in March 2024, up 10.3% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95.1K | $235.7K | +147.8% |
2 Bedrooms | $186.2K | $228K | +22.4% |
3 Bedrooms | $250K | $265K | +6.0% |
4 Bedrooms | $349.4K | $349.9K | 0.2% |
5+ Bedrooms | $352.5K | $302.4K | -14.2% |
Summary: East Ridge housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 147.8%, 2 bedroom homes increased by 22.4%, 3 bedroom homes increased by 6%, 4 bedroom homes increased by 0.2%, and 5+ bedroom homes decreased by 14.2%.
Median Sold Price Compared To Nearby Cities
Fort Oglethorpe-Lakeview | $215K | $250K | +16.3% |
Boynton Ridge | $299.9K | $339.2K | +13.1% |
East Ridge | $240.4K | $265.1K | +10.3% |
Rossville-Beverly Hills | $182.2K | $193K | +5.9% |
Chattanooga | $310.7K | $325.3K | +4.7% |
Housing Supply in East Ridge, TN
How many homes are available in East Ridge, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
114 | 118 | +3.5% |
Summary: The East Ridge real estate market had 118 homes for sale in March 2024, a 3.5% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 4 | +100.0% |
2 Bedrooms | 21 | 18 | -14.3% |
3 Bedrooms | 69 | 74 | +7.2% |
4 Bedrooms | 21 | 20 | -4.8% |
5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The East Ridge housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 14.3%, 3 bedroom homes increased by 7.2%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
36 | 34 | -5.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 34 homes were sold or pending in East Ridge in March 2024, down by 5.6% month-over-month. Of the 34 sold homes, 38% were sold under asking, 44% were sold at asking, and 18% were sold over asking.
Days on Market for East Ridge, TN
How long does it take to sell a home in East Ridge, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
10 Days | 12 Days | +20.9% |
Summary: Homes in East Ridge had an average of 12 days on market in Mar 2024, up by 20.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During March 2024, 34 homes were sold in East Ridge; 24% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.