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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ooltewah is a neutral's market

Buyer's
Market

Difference Since September 2023

At the same time last year, Ooltewah was a Seller's Market.

Key Takeaway

Ooltewah is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.

Housing Prices in Ooltewah, TN

How much do homes in Ooltewah, TN cost?

Median Sold Price

$473,794

$200/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$33,626(+7.6%)

Key Takeaway

Homes in Ooltewah have sold for 7.6% more than they did a year ago.

Summary: The median home sold price in Ooltewah was $473,794 in September 2024, up 7.6% from last year, and the median price per square foot was $200.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $70K-
N/A
2 $379.5K$355K
-6.5%
3 $389.9K$398K
+2.1%
4 $493K$519.9K
+5.4%
5+ $600K$640K
+6.7%

Summary: Ooltewah housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 6.5%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 6.7%.

Median Sold Price Compared To Nearby Cities

Ooltewah
+7.6%
Mc Donald
+5.2%
Catoosa Springs
+4.8%
Chattanooga
+2.8%
Collegedale
-3.2%

Housing Supply in Ooltewah, TN

How many homes are available in Ooltewah, TN?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
346354+2.3%

Summary: The Ooltewah real estate market had 354 homes for sale in September 2024, a 2.3% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 1512
-20.0%
3 130132
+1.5%
4 135152
+12.6%
5+ 6658
-12.1%

Summary: The Ooltewah housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 1.5%, 4 bedroom homes increased by 12.6%, and 5+ bedroom homes decreased by 12.1%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
8153-34.6%

Asking Price vs. Sold Price

25 Homes Were Sold
Under Asking

23 Homes Were Sold
At Asking

5 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ooltewah, you may be able to get a good deal. 47.2% of homes here sold below asking price last month.

Summary: A total of 53 homes were sold or pending in Ooltewah in September 2024, down by 34.6% month-over-month. Of the 53 sold homes, 47% were sold under asking, 43% were sold at asking, and 9% 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

Sep 2023Sep 2024CHANGE
46 Days29 Days-37.7%

Summary: Homes in Ooltewah had an average of 29 days on market in Sep 2024, down by 37.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During September 2024, 53 homes were sold in Ooltewah; 6% of homes were sold within 30 days, 4% 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 30 Days Ago

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