Is East Ridge, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing East Ridge is a seller's market

Buyer's
Market

Difference Since March 2023

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

Key Takeaway

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

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

+$24,704(+10.3%)

Key Takeaway

Homes in East Ridge have sold for 10.3% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $95.1K$235.7K
+147.8%
2 $186.2K$228K
+22.4%
3 $250K$265K
+6.0%
4 $349.4K$349.9K
0.2%
5+ $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
+16.3%
Boynton Ridge
+13.1%
East Ridge
+10.3%
Rossville-Beverly Hills
+5.9%
Chattanooga
+4.7%

Housing Supply in East Ridge, TN

How many homes are available in East Ridge, TN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
114118+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

# BEDSFeb 2024Mar 2024CHANGE
1 24
+100.0%
2 2118
-14.3%
3 6974
+7.2%
4 2120
-4.8%
5+ 12
+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 2024Mar 2024CHANGE
3634-5.6%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

15 Homes Were Sold
At Asking

6 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in East Ridge, expect to pay close to the asking price. 44.1% of homes here sold near the asking price last month.

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 2023Mar 2024CHANGE
10 Days12 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

Breakdown of Home Sale Times

Key Takeaway

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

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.

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

Report Updated 19 Days Ago

Newest Listings in East Ridge, TN

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