Is Chattanooga, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Chattanooga has remained a Seller's Market.
Housing Prices in Chattanooga, TN
How much do homes in Chattanooga, TN cost?
Median Sold Price
$327,210
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Chattanooga was $327,210 in April 2024, up 4% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $265K | $279.9K | +5.6% |
2 Bedrooms | $239.9K | $250K | +4.2% |
3 Bedrooms | $301.9K | $306.9K | +1.7% |
4 Bedrooms | $409.8K | $425.4K | +3.8% |
5+ Bedrooms | $539.5K | $637.6K | +18.2% |
Summary: Chattanooga housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 18.2%.
Median Sold Price Compared To Nearby Cities
East Ridge | $241.1K | $266.1K | +10.4% |
Chattanooga | $314.5K | $327.2K | +4.0% |
Red Bank | $324.9K | $310K | -4.6% |
Housing Supply in Chattanooga, TN
How many homes are available in Chattanooga, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,463 | 1,522 | +4.0% |
Summary: The Chattanooga real estate market had 1,522 homes for sale in April 2024, a 4.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 75 | 77 | +2.7% |
2 Bedrooms | 285 | 337 | +18.2% |
3 Bedrooms | 672 | 685 | +1.9% |
4 Bedrooms | 332 | 328 | -1.2% |
5+ Bedrooms | 99 | 95 | -4.0% |
Summary: The Chattanooga housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 2.7%, 2 bedroom homes increased by 18.2%, 3 bedroom homes increased by 1.9%, 4 bedroom homes decreased by 1.2%, and 5+ bedroom homes decreased by 4%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
420 | 362 | -13.8% |
Asking Price vs. Sold Price
140 Homes Were Sold
Under Asking
126 Homes Were Sold
At Asking
96 Homes Were Sold
Over Asking
Summary: A total of 362 homes were sold or pending in Chattanooga in April 2024, down by 13.8% month-over-month. Of the 362 sold homes, 39% were sold under asking, 35% were sold at asking, and 27% were sold over asking.
Days on Market for Chattanooga, TN
How long does it take to sell a home in Chattanooga, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
19 Days | 24 Days | +30.3% |
Summary: Homes in Chattanooga had an average of 24 days on market in Apr 2024, up by 30.3% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Summary: During April 2024, 362 homes were sold in Chattanooga; 15% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 1% of homes were sold over 90 days.