Is Ooltewah, 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, Ooltewah has remained a Seller's Market.
Housing Prices in Ooltewah, TN
How much do homes in Ooltewah, TN cost?
Median Sold Price
$459,980
$191/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Ooltewah was $459,980 in March 2024, up 8.2% from last year, and the median price per square foot was $191.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $127.5K | - | N/A |
2 Bedrooms | $315K | $335K | +6.3% |
3 Bedrooms | $371K | $385K | +3.8% |
4 Bedrooms | $475K | $500K | +5.3% |
5+ Bedrooms | $610K | $635K | +4.1% |
Summary: Ooltewah housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 6.3%, 3 bedroom homes increased by 3.8%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 4.1%.
Median Sold Price Compared To Nearby Cities
Ooltewah | $425.2K | $459.9K | +8.2% |
Catoosa Springs | $246.5K | $266K | +7.9% |
Chattanooga | $310.7K | $325.3K | +4.7% |
Collegedale | $412K | $425.7K | +3.3% |
Mc Donald | $497.5K | $370K | -25.6% |
Housing Supply in Ooltewah, TN
How many homes are available in Ooltewah, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
256 | 276 | +7.8% |
Summary: The Ooltewah real estate market had 276 homes for sale in March 2024, a 7.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 0 | 0.0% |
2 Bedrooms | 9 | 9 | 0.0% |
3 Bedrooms | 107 | 124 | +15.9% |
4 Bedrooms | 103 | 101 | -1.9% |
5+ Bedrooms | 37 | 42 | +13.5% |
Summary: The Ooltewah housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 15.9%, 4 bedroom homes decreased by 1.9%, and 5+ bedroom homes increased by 13.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
54 | 62 | +14.8% |
Asking Price vs. Sold Price
25 Homes Were Sold
Under Asking
25 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Summary: A total of 62 homes were sold or pending in Ooltewah in March 2024, up by 14.8% month-over-month. Of the 62 sold homes, 40% were sold under asking, 40% were sold at asking, and 19% were sold over asking.
Days on Market for Ooltewah, TN
How long does it take to sell a home in Ooltewah, TN?
Average Sale Time
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
32 Days | 76 Days | +136.9% |
Summary: Homes in Ooltewah had an average of 76 days on market in Mar 2024, up by 136.9% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During March 2024, 62 homes were sold in Ooltewah; 11% of homes were sold within 30 days, 3% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.