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 seller's market

Buyer's
Market

Difference Since November 2023

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

Key Takeaway

Bonny Oaks / Highway 58 is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Bonny Oaks / Highway 58, TN

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

Median Sold Price

$274,500

$192/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$35,500(+14.9%)

Key Takeaway

Homes in Bonny Oaks / Highway 58 have sold for 14.9% more than they did a year ago.

Summary: The median home sold price in Bonny Oaks / Highway 58 was $274,500 in November 2024, up 14.9% from last year, and the median price per square foot was $192.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 --
N/A
2 $225K$185K
-17.8%
3 $225K$272.2K
+21.0%
4 $275K$286.5K
+4.2%
5+ $304.5K$379.5K
+24.6%

Summary: Bonny Oaks / Highway 58 housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 17.8%, 3 bedroom homes increased by 21%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes increased by 24.6%.

Median Sold Price Compared To Nearby Neighborhoods

Bonny Oaks / Highway 58
+14.9%
Dupont / Murray Hills
+6.5%
Ooltewah / Summit
+4.0%

Housing Supply in Bonny Oaks / Highway 58, TN

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

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
2933+13.8%

Summary: The Bonny Oaks / Highway 58 real estate market had 33 homes for sale in November 2024, a 13.8% increase compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 2428
+16.7%
4 12
+100.0%
5+ 11
0.0%

Summary: The Bonny Oaks / Highway 58 housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 100%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
310+233.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

4 Homes Were 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 may be able to get a good deal. 40% of homes here sold below asking price last month.

Summary: A total of 10 homes were sold or pending in Bonny Oaks / Highway 58 in November 2024, up by 233.3% month-over-month. Of the 10 sold homes, 40% were sold under asking, 40% were sold at asking, and 20% 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

Nov 2023Nov 2024CHANGE
61 Days18 Days-69.7%

Summary: Homes in Bonny Oaks / Highway 58 had an average of 18 days on market in Nov 2024, down by 69.7% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was 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 November 2024, 10 homes were sold in Bonny Oaks / Highway 58; 30% of homes were sold within 30 days, 10% 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 17 Days Ago

Real Estate Agent illustration

Local real estate agents are ready to help you find a home here.

Connect With An Agent
Real Estate Agent illustration

Sell your home with an expert or get the job done on your own.

Sell My Home
Real Estate Agent illustration

Get a customizable mortgage solution based on today's rates.

Get Approved

Newest Listings in Bonny Oaks / Highway 58, TN

Nearby Markets to Bonny Oaks / Highway 58, TN

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 12/01/2022 - 12/01/2024

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: 12/18/2024, 4:21:09 PM 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: 12/18/2024, 4:18:51 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.

Popular Cities with Homes for Sale in Tennessee