$4,156 Closing Credit*
$350,000
1,600 SqFt
3 Beds
•2 Full Baths
Carter Roberson, Listing Office: Re/Max Renaissance
Is Lookout Valley / Lookout Mountain, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Lookout Valley / Lookout Mountain was a Seller's Market.
Key Takeaway
Lookout Valley / Lookout Mountain is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Lookout Valley / Lookout Mountain, TN
How much do homes in Lookout Valley / Lookout Mountain, TN cost?
Median Sold Price
$575,000
$258/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$9,400(+1.7%)
Key Takeaway
Homes in Lookout Valley / Lookout Mountain have sold for 1.7% more than they did a year ago.
Summary: The median home sold price in Lookout Valley / Lookout Mountain was $575,000 in November 2024, up 1.7% from last year, and the median price per square foot was $258.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $253.4K | $225K | -11.2% |
| 2 Bedrooms | $215K | $237.2K | +10.3% |
| 3 Bedrooms | $350K | $495K | +41.4% |
| 4 Bedrooms | $730K | $875K | +19.9% |
| 5+ Bedrooms | $1.1M | $1.3M | +21.3% |
Summary: Lookout Valley / Lookout Mountain housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.2%, 2 bedroom homes increased by 10.3%, 3 bedroom homes increased by 41.4%, 4 bedroom homes increased by 19.9%, and 5+ bedroom homes increased by 21.3%.
Median Sold Price Compared To Nearby Neighborhoods
| Lookout Valley / Lookout Mountain | $565.6K | $575K | +1.7% |
| Downtown Chattanooga | $469K | $475K | +1.3% |
Housing Supply in Lookout Valley / Lookout Mountain, TN
How many homes are available in Lookout Valley / Lookout Mountain, TN?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 125 | 107 | -14.4% |
Summary: The Lookout Valley / Lookout Mountain real estate market had 107 homes for sale in November 2024, a 14.4% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 3 | -40.0% |
| 2 Bedrooms | 14 | 6 | -57.1% |
| 3 Bedrooms | 63 | 65 | +3.2% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 16 | 9 | -43.8% |
Summary: The Lookout Valley / Lookout Mountain housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 40%, 2 bedroom homes decreased by 57.1%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 43.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 34 | 16 | -52.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Lookout Valley / Lookout Mountain, you may be able to get a good deal. 68.8% of homes here sold below asking price last month.
Summary: A total of 16 homes were sold or pending in Lookout Valley / Lookout Mountain in November 2024, down by 52.9% month-over-month. Of the 16 sold homes, 69% were sold under asking, 25% were sold at asking, and 6% were sold over asking.
Days on Market for Lookout Valley / Lookout Mountain, TN
How long does it take to sell a home in Lookout Valley / Lookout Mountain, TN?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 21 Days | 47 Days | +117.4% |
Summary: Homes in Lookout Valley / Lookout Mountain had an average of 47 days on market in Nov 2024, up by 117.4% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lookout Valley / Lookout Mountain are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 16 homes were sold in Lookout Valley / Lookout Mountain; 25% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 13% 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.