Is Ooltewah, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Ooltewah is a seller's market

Buyer's
Market

Difference Since November 2023

Since last year, Ooltewah has remained a Seller's Market.

Key Takeaway

Ooltewah is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Ooltewah, TN

How much do homes in Ooltewah, TN cost?

Median Sold Price

$464,648

$201/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2023

+$15,946(+3.6%)

Key Takeaway

Homes in Ooltewah have sold for 3.6% more than they did a year ago.

Summary: The median home sold price in Ooltewah was $464,648 in November 2024, up 3.6% from last year, and the median price per square foot was $201.

Median Sold Price By Bedroom Count

# BEDSNov 2023Nov 2024CHANGE
1 $70K-
N/A
2 $365K$359.9K
-1.4%
3 $389.6K$398.9K
+2.4%
4 $487.6K$525K
+7.7%
5+ $621.5K$629K
+1.2%

Summary: Ooltewah 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 1.4%, 3 bedroom homes increased by 2.4%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 1.2%.

Median Sold Price Compared To Nearby Cities

Mc Donald
+11.5%
Catoosa Springs
+9.4%
Ooltewah
+3.6%
Chattanooga
+3.0%
Collegedale
+2.3%

Housing Supply in Ooltewah, TN

How many homes are available in Ooltewah, TN?

Number of Homes For Sale

Oct 2024Nov 2024CHANGE
440369-16.1%

Summary: The Ooltewah real estate market had 369 homes for sale in November 2024, a 16.1% decrease compared to October 2024.

Homes For Sale By Bedroom Count

# BEDSOct 2024Nov 2024CHANGE
1 00
0.0%
2 1414
0.0%
3 176137
-22.2%
4 188167
-11.2%
5+ 6251
-17.7%

Summary: The Ooltewah 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 remained the same, 3 bedroom homes decreased by 22.2%, 4 bedroom homes decreased by 11.2%, and 5+ bedroom homes decreased by 17.7%.

Number of Homes Sold

Oct 2024Nov 2024CHANGE
107100-6.5%

Asking Price vs. Sold Price

52 Homes Were Sold
Under Asking

25 Homes Were Sold
At Asking

23 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Ooltewah, you may be able to get a good deal. 52% of homes here sold below asking price last month.

Summary: A total of 100 homes were sold or pending in Ooltewah in November 2024, down by 6.5% month-over-month. Of the 100 sold homes, 52% were sold under asking, 25% were sold at asking, and 23% were sold over asking.

Days on Market for Ooltewah, TN

How long does it take to sell a home in Ooltewah, TN?

Average Sale Time

Nov 2023Nov 2024CHANGE
81 Days37 Days-54.5%

Summary: Homes in Ooltewah had an average of 37 days on market in Nov 2024, down by 54.5% compared to last year.

Breakdown of Home Sale Times

23 Homes Were Sold
Under 30 Days

7 Homes Were Sold
In 30 - 90 Days

5 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Ooltewah are selling fast, if you're buying plan to act quickly.

Summary: During November 2024, 100 homes were sold in Ooltewah; 23% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 5% 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 22 Days Ago

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