Is East Ridge, 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, East Ridge has remained a Seller's Market.
Housing Prices in East Ridge, TN
How much do homes in East Ridge, TN cost?
Median Sold Price
$266,111
$182/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in East Ridge was $266,111 in April 2024, up 10.4% from last year, and the median price per square foot was $182.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $95.1K | $235.7K | +147.8% |
2 Bedrooms | $192K | $235K | +22.4% |
3 Bedrooms | $253K | $265K | +4.7% |
4 Bedrooms | $324.3K | $349.9K | +7.9% |
5+ Bedrooms | $352.5K | $302.4K | -14.2% |
Summary: East Ridge housing prices by bedroom type for April 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 4.7%, 4 bedroom homes increased by 7.9%, and 5+ bedroom homes decreased by 14.2%.
Median Sold Price Compared To Nearby Cities
Fort Oglethorpe-Lakeview | $217.1K | $253.8K | +16.9% |
Boynton Ridge | $306.6K | $339K | +10.5% |
East Ridge | $241.1K | $266.1K | +10.4% |
Chattanooga | $314.5K | $327.2K | +4.0% |
Rossville-Beverly Hills | $182.5K | $186K | +1.9% |
Housing Supply in East Ridge, TN
How many homes are available in East Ridge, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
103 | 105 | +1.9% |
Summary: The East Ridge real estate market had 105 homes for sale in April 2024, a 1.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 5 | +66.7% |
2 Bedrooms | 16 | 23 | +43.8% |
3 Bedrooms | 64 | 62 | -3.1% |
4 Bedrooms | 18 | 13 | -27.8% |
5+ Bedrooms | 2 | 2 | 0.0% |
Summary: The East Ridge housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 43.8%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
34 | 19 | -44.1% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Summary: A total of 19 homes were sold or pending in East Ridge in April 2024, down by 44.1% month-over-month. Of the 19 sold homes, 42% were sold under asking, 37% were sold at asking, and 21% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
23 Days | 9 Days | -62.1% |
Summary: Homes in East Ridge had an average of 9 days on market in Apr 2024, down by 62.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During April 2024, 19 homes were sold in East Ridge; 11% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.