Is Bonny Oaks / Highway 58, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Bonny Oaks / Highway 58 is a buyer's market

Buyer's
Market

Difference Since October 2023

At the same time last year, Bonny Oaks / Highway 58 was a Seller's Market.

Key Takeaway

Bonny Oaks / Highway 58 is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.

Housing Prices in Bonny Oaks / Highway 58, TN

How much do homes in Bonny Oaks / Highway 58, TN cost?

Median Sold Price

$275,000

$191/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$36,750(+15.4%)

Key Takeaway

Homes in Bonny Oaks / Highway 58 have sold for 15.4% more than they did a year ago.

Summary: The median home sold price in Bonny Oaks / Highway 58 was $275,000 in October 2024, up 15.4% from last year, and the median price per square foot was $191.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 --
N/A
2 $225K$225K
0.0%
3 $225K$274.5K
+22.0%
4 $275K$286.5K
+4.2%
5+ $280K$379.5K
+35.5%

Summary: Bonny Oaks / Highway 58 housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes did not change, 3 bedroom homes increased by 22%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 35.5%.

Median Sold Price Compared To Nearby Neighborhoods

Lake Hills
+15.5%
Bonny Oaks / Highway 58
+15.4%
Dupont / Murray Hills
+8.2%
Ooltewah / Summit
+4.5%

Housing Supply in Bonny Oaks / Highway 58, TN

How many homes are available in Bonny Oaks / Highway 58, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2726-3.7%

Summary: The Bonny Oaks / Highway 58 real estate market had 26 homes for sale in October 2024, a 3.7% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 21
-50.0%
3 2221
-4.5%
4 23
+50.0%
5+ 11
0.0%

Summary: The Bonny Oaks / Highway 58 housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 50%, 3 bedroom homes decreased by 4.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
83-62.5%

Asking Price vs. Sold Price

0 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Bonny Oaks / Highway 58, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.

Summary: A total of 3 homes were sold or pending in Bonny Oaks / Highway 58 in October 2024, down by 62.5% month-over-month. Of the 3 sold homes, 0% were sold under asking, 33% were sold at asking, and 67% were sold over asking.

Days on Market for Bonny Oaks / Highway 58, TN

How long does it take to sell a home in Bonny Oaks / Highway 58, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
30 Days27 Days-12.0%

Summary: Homes in Bonny Oaks / Highway 58 had an average of 27 days on market in Oct 2024, down by 12% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Bonny Oaks / Highway 58 are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 3 homes were sold in Bonny Oaks / Highway 58; 33% 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.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 16 Days Ago

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Newest Listings in Bonny Oaks / Highway 58, TN

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MLS Disclaimers and Copyright

Based on information from Chattanooga MLS / Multiple Listing Service of Chattanooga Inc., and RealTracs Middle Tennessee Regional MLS for the period 11/01/2022 - 11/01/2024

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 10:20:55 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2024 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 11/17/2024, 10:18:47 AM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

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