Is Signal Mountain, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Signal Mountain has remained a Seller's Market.
Housing Prices in Signal Mountain, TN
How much do homes in Signal Mountain, TN cost?
Median Sold Price
$656,666
$239/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Signal Mountain was $656,666 in May 2024, up 11.3% from last year, and the median price per square foot was $239.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $510K | N/A |
2 Bedrooms | $340K | $323.7K | -4.8% |
3 Bedrooms | $472.5K | $470K | -0.5% |
4 Bedrooms | $662.5K | $820K | +23.8% |
5+ Bedrooms | $872.5K | $782.5K | -10.3% |
Summary: Signal Mountain housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 4.8%, 3 bedroom homes decreased by 0.5%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes decreased by 10.3%.
Median Sold Price Compared To Nearby Cities
Signal Mountain | $589.9K | $656.6K | +11.3% |
Chattanooga | $316.8K | $326.7K | +3.1% |
Walden | $970K | $899.9K | -7.2% |
Housing Supply in Signal Mountain, TN
How many homes are available in Signal Mountain, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
68 | 88 | +29.4% |
Summary: The Signal Mountain real estate market had 88 homes for sale in May 2024, a 29.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 1 | 0.0% |
2 Bedrooms | 2 | 4 | +100.0% |
3 Bedrooms | 18 | 29 | +61.1% |
4 Bedrooms | 39 | 40 | +2.6% |
5+ Bedrooms | 8 | 14 | +75.0% |
Summary: The Signal Mountain housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 61.1%, 4 bedroom homes increased by 2.6%, and 5+ bedroom homes increased by 75%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
15 | 20 | +33.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
7 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Signal Mountain in May 2024, up by 33.3% month-over-month. Of the 20 sold homes, 15% were sold under asking, 35% were sold at asking, and 50% 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
May 2023 | May 2024 | CHANGE |
---|---|---|
7 Days | 26 Days | +276.2% |
Summary: Homes in Signal Mountain had an average of 26 days on market in May 2024, up by 276.2% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 20 homes were sold in Signal Mountain; 10% 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.