$6,116 Closing Credit*
$515,000
1,618 SqFt
2 Beds
•2 Full Baths
Listing Office: Real Estate Partners Chattanooga LLC
Is Downtown Chattanooga, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Downtown Chattanooga was a Seller's Market.
Key Takeaway
Downtown Chattanooga is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Downtown Chattanooga, TN
How much do homes in Downtown Chattanooga, TN cost?
Median Sold Price
$469,450
$332/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$550(-0.1%)
Key Takeaway
The sold price of homes in Downtown Chattanooga has remained the same since last year.
Summary: The median home sold price in Downtown Chattanooga was $469,450 in October 2024, down 0.1% from last year, and the median price per square foot was $332.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $299.9K | 0% |
| 2 Bedrooms | $459K | $419K | -8.7% |
| 3 Bedrooms | $519K | $512.5K | -1.3% |
| 4 Bedrooms | $599K | $680K | +13.5% |
| 5+ Bedrooms | $615K | $427.5K | -30.5% |
Summary: Downtown Chattanooga 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 decreased by 8.7%, 3 bedroom homes decreased by 1.3%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes decreased by 30.5%.
Median Sold Price Compared To Nearby Neighborhoods
| Southside | $405K | $469K | +15.8% |
| Downtown Chattanooga | $470K | $469.4K | -0.1% |
| Riverfront | $681.5K | $660K | -3.2% |
Housing Supply in Downtown Chattanooga, TN
How many homes are available in Downtown Chattanooga, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 84 | 99 | +17.9% |
Summary: The Downtown Chattanooga real estate market had 99 homes for sale in October 2024, a 17.9% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 29 | 33 | +13.8% |
| 2 Bedrooms | 25 | 31 | +24.0% |
| 3 Bedrooms | 24 | 28 | +16.7% |
| 4 Bedrooms | 5 | 7 | +40.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Downtown Chattanooga housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.8%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 16.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 9 | 9 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Downtown Chattanooga, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Downtown Chattanooga in October 2024, the same as the previous month. Of the 9 sold homes, 56% were sold under asking, 44% were sold at asking, and 0% were sold over asking.
Days on Market for Downtown Chattanooga, TN
How long does it take to sell a home in Downtown Chattanooga, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 46 Days | 37 Days | -20.4% |
Summary: Homes in Downtown Chattanooga had an average of 37 days on market in Oct 2024, down by 20.4% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Downtown Chattanooga are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 9 homes were sold in Downtown Chattanooga; 22% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.