Is Signal Mountain, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2022
Since last year, Signal Mountain has remained a Seller's Market.
Key Takeaway
Signal Mountain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Signal Mountain, TN
How much do homes in Signal Mountain, TN cost?
Median Sold Price
$626,333
$218/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2022
Key Takeaway
Homes in Signal Mountain have sold for 19.5% more than they did a year ago.
Summary: The median home sold price in Signal Mountain was $626,333 in November 2023, up 19.5% from last year, and the median price per square foot was $218.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $510K | N/A |
| 2 Bedrooms | $267.4K | $322.5K | +20.6% |
| 3 Bedrooms | $427.5K | $495K | +15.8% |
| 4 Bedrooms | $588.7K | $724K | +23.0% |
| 5+ Bedrooms | $760K | $855K | +12.5% |
Summary: Signal Mountain housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 20.6%, 3 bedroom homes increased by 15.8%, 4 bedroom homes increased by 23%, and 5+ bedroom homes increased by 12.5%.
Median Sold Price Compared To Nearby Cities
| Signal Mountain | $524.3K | $626.3K | +19.5% |
| Chattanooga | $309.6K | $324.9K | +4.9% |
Housing Supply in Signal Mountain, TN
How many homes are available in Signal Mountain, TN?
Number of Homes For Sale
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 82 | 66 | -19.5% |
Summary: The Signal Mountain real estate market had 66 homes for sale in November 2023, a 19.5% decrease compared to October 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 3 | -57.1% |
| 3 Bedrooms | 19 | 20 | +5.3% |
| 4 Bedrooms | 41 | 32 | -22.0% |
| 5+ Bedrooms | 15 | 11 | -26.7% |
Summary: The Signal Mountain housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 57.1%, 3 bedroom homes increased by 5.3%, 4 bedroom homes decreased by 22%, and 5+ bedroom homes decreased by 26.7%.
Number of Homes Sold
| Oct 2023 | Nov 2023 | CHANGE |
|---|---|---|
| 23 | 19 | -17.4% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
8 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Signal Mountain, you may be able to get a good deal. 52.6% of homes here sold below asking price last month.
Summary: A total of 19 homes were sold or pending in Signal Mountain in November 2023, down by 17.4% month-over-month. Of the 19 sold homes, 53% were sold under asking, 42% were sold at asking, and 5% were sold over asking.
Days on Market for Signal Mountain, TN
How long does it take to sell a home in Signal Mountain, TN?
Average Sale Time
| Nov 2022 | Nov 2023 | CHANGE |
|---|---|---|
| 13 Days | 26 Days | +103.8% |
Summary: Homes in Signal Mountain had an average of 26 days on market in Nov 2023, up by 103.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Signal Mountain are selling fast, if you're buying plan to act quickly.
Summary: During November 2023, 19 homes were sold in Signal Mountain; 5% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2023 of the REALTRACS MLS. All rights Reserved.