$4,750 Closing Credit*
$400,000
905 SqFt
1 Bed
•1 Full Bath
Listing Office: Real Estate Partners Chattanooga LLC
Is Riverfront, 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, Riverfront has remained a Seller's Market.
Key Takeaway
Riverfront is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Riverfront, TN
How much do homes in Riverfront, TN cost?
Median Sold Price
$660,000
$414/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
-$21,500(-3.2%)
Key Takeaway
Homes in Riverfront have sold for 3.2% less than they did a year ago.
Summary: The median home sold price in Riverfront was $660,000 in October 2024, down 3.2% from last year, and the median price per square foot was $414.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $300K | $382.4K | +27.5% |
| 2 Bedrooms | $624.5K | $475K | -23.9% |
| 3 Bedrooms | $1.5M | $665K | -57.3% |
| 4 Bedrooms | - | $1.4M | N/A |
| 5+ Bedrooms | - | $830K | N/A |
Summary: Riverfront housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.5%, 2 bedroom homes decreased by 23.9%, 3 bedroom homes decreased by 57.3%, 4 bedroom homes did not change, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Neighborhoods
| North Chattanooga / Hill City | $505K | $525K | +4.0% |
| Downtown Chattanooga | $470K | $469.4K | -0.1% |
| Riverfront | $681.5K | $660K | -3.2% |
Housing Supply in Riverfront, TN
How many homes are available in Riverfront, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 12 | 11 | -8.3% |
Summary: The Riverfront real estate market had 11 homes for sale in October 2024, a 8.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 6 | 5 | -16.7% |
| 4 Bedrooms | 2 | 2 | 0.0% |
| 5+ Bedrooms | 1 | 0 | -100.0% |
Summary: The Riverfront 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 100%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 100%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 3 | 2 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
0 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Riverfront, you may be able to get a good deal. 100% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Riverfront in October 2024, down by 33.3% month-over-month. Of the 2 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% were sold over asking.
Days on Market for Riverfront, TN
How long does it take to sell a home in Riverfront, TN?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 12 Days | 12 Days | -4.0% |
Summary: Homes in Riverfront had an average of 12 days on market in Oct 2024, down by 4% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Riverfront are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 2 homes were sold in Riverfront; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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.