$7,119 Closing Credit*
$599,500
1,766 SqFt
3 Beds
•2 Full Baths, 1 Partial
Listing Office: Crye-Leike, REALTORS
Is Chattanooga, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Chattanooga has remained a Seller's Market.
Key Takeaway
Chattanooga is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Chattanooga, TN
How much do homes in Chattanooga, TN cost?
Median Sold Price
$329,348
$199/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$9,765(+3.1%)
Key Takeaway
Homes in Chattanooga have sold for 3.1% more than they did a year ago.
Summary: The median home sold price in Chattanooga was $329,348 in October 2024, up 3.1% from last year, and the median price per square foot was $199.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $279.9K | $262.5K | -6.2% |
| 2 Bedrooms | $244.9K | $243.2K | -0.7% |
| 3 Bedrooms | $300K | $317K | +5.7% |
| 4 Bedrooms | $406.6K | $439.6K | +8.1% |
| 5+ Bedrooms | $552.3K | $728.3K | +31.9% |
Summary: Chattanooga housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.2%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 5.7%, 4 bedroom homes increased by 8.1%, and 5+ bedroom homes increased by 31.9%.
Median Sold Price Compared To Nearby Cities
| Red Bank | $307.9K | $330K | +7.2% |
| Chattanooga | $319.5K | $329.3K | +3.1% |
| East Ridge | $263K | $268K | +1.9% |
| Ridgeside | $640K | $510K | -20.3% |
Housing Supply in Chattanooga, TN
How many homes are available in Chattanooga, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,688 | 1,683 | -0.3% |
Summary: The Chattanooga real estate market had 1,683 homes for sale in October 2024, a 0.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 70 | 70 | 0.0% |
| 2 Bedrooms | 312 | 313 | 0.3% |
| 3 Bedrooms | 859 | 838 | -2.4% |
| 4 Bedrooms | 332 | 350 | +5.4% |
| 5+ Bedrooms | 115 | 112 | -2.6% |
Summary: The Chattanooga 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 increased by 0.3%, 3 bedroom homes decreased by 2.4%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes decreased by 2.6%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 391 | 345 | -11.8% |
Asking Price vs. Sold Price
181 Homes Were Sold
Under Asking
108 Homes Were Sold
At Asking
54 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Chattanooga, you may be able to get a good deal. 52.8% of homes here sold below asking price last month.
Summary: A total of 345 homes were sold or pending in Chattanooga in October 2024, down by 11.8% month-over-month. Of the 343 sold homes, 53% were sold under asking, 31% were sold at asking, and 16% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 25 Days | 35 Days | +39.2% |
Summary: Homes in Chattanooga had an average of 35 days on market in Oct 2024, up by 39.2% compared to last year.
Breakdown of Home Sale Times
79 Homes Were Sold
Under 30 Days
45 Homes Were Sold
In 30 - 90 Days
12 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Chattanooga are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 345 homes were sold in Chattanooga; 23% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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