Local Market Snapshot
Hamilton County Single Family Homes, Updated 11.16.21
|Active Listings||Under Contract||Sold Homes in 30 Days|
Greater Chattanooga Market Data
Year to Date, All Greater Chatt Counties, Single Family Homes, As of 11.16.21
|Year||New Listings||Under Contract||Sold Homes|
- A record number of Chattanooga single-family homes sold in 2020. Volume increased 8.4% over 2019 (Chattanooga Times Free Press, 1.14.21)
- Even at $260,000, the median home price in the Chattanooga area is still 20% below the national median home price of $329,100, according to the National Association of Realtors. (Chattanooga Times Free Press 8.28.21)
- However, the typical Chattanooga home is still priced below the US median price of $315,900 (Chattanooga Times Free Press 2.23.21)
- Chattanooga home prices have risen 22% faster than the national average (Based on Q-4, 2020, Chattanooga Times Free Press 2.23.21)
- The typical Chattanooga home sold in 39 days (February 2021) = 36% quicker than March 2020 and 3 times faster than houses sold a decade ago (Chattanooga Times Free Press, 3.20.21)
- Interest rates remain near all-time lows, which has increased buying power for many by $50,000 – $100,000 (Robert Backer, president of Greater Chattanooga Association of Realtors, Chattanooga Times Free Press, 2.23.21)
- The number of Chattanooga area homes on the market is down 68% from March 2020 (Chattanooga Times Free Press, 3.20.21)
- There is a nationwide housing shortage. Across the U.S., inventory is at half what it was in February 2020 (The New York Times, 2.6.21)
- Rose in Chattanooga an average of 14.6% in 2020 (Chattanooga Times Free Press, 1.14.21)
- TN ranked #1 for COVID Moves: In 2020, Tennessee topped U-Haul’s list of one-way moves, edging out Florida and Texas for the first time, with a 12% jump in new arrivals over the prior year. (The Tennessean, 1.6.2021)
- TN named Most Affordable state for retirees (Bankrate.com, 7.7.21)
- PC Magazine named Chattanooga as the best city in America for remote work based upon its internet service and cost of living (Chattanooga Times Free Press, 2.23.21)
- Chattanooga ranks #10 in the country for job growth. The fastest growing industries are Education and Health Services, according to 24/7 Wall St. (24/7 Wall St., 2.2021)
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