Real estate in the Greater Chattanooga area is heating up with double the inventory and 1.3% more home sales than 2024.
So what does this mean for Tri-State BUYERS and SELLERS?
Buyers:
With twice the number of homes for sale this May than just 24 months ago, Buyers have more choice and negotiating power than in recent years. The caveat is that, because of significant local appreciation, realistic (not low-ball) offers are critically important. In fact, many Buyers are still offering above asking prices on popular properties.
Sellers:
Sellers can be encouraged that the number of homes sold in Greater Chattanooga continues to grow steadily year over year. However, inventory growth is outpacing sales volume growth creating intense competition to win Buyers. The key here is precision, data-driven pricing, flexible negotiation, and patience as days on market have increased by 34% in the last 2 years.
Price & Value:
Home values in Greater Chattanooga have appreciated by 73% since 2019, achieving a ranking as a “Top 100” City for real estate appreciation.
Our median price point has risen over 7% since May 2024, but remains slightly below the national median, meaning our market continues to offer significant value for Sellers and Buyers alike.
Explore more Current Local Data and New Properties at ToddHenon.com.
