Local Market Snapshot
Hamilton County Single Family Homes, Updated 5.24.22
| Active Listings | Under Contract | Sold Homes in 30 Days |
|---|---|---|
| 391 | 901 | 539 |
Greater Chattanooga Market Data, Year to Date
Year to Date, All Greater Chatt Counties, Single Family Homes, As of 5.24.22
| Year | New Listings | Under Contract | Sold Homes |
|---|---|---|---|
| 2022 | 5,750 | 5,147 | 4,463 |
| 2021 | 5,427 | 5,118 | 4,544 |
| 2020 | 5,224 | 4,381 | 3,774 |
| 2019 | 5,959 | 4,534 | 3,920 |
Regional Data and Statistics
Sales Volume:
- From 2020 to 2021, Chattanooga area home sales increased 9.9% in one year, the highest increase in the last 5 years. (Greater Chattanooga Association of Realtors annual report)
Pricing:
- While Chattanooga’s median home price of $300,000 is at an all-time high, it is 20% below the national median home price of $375,300 (March 2022). Chattanooga Times Free Press 4.14.22
Speed:
- The typical home in Chattanooga sold in only 19 days as the inventory of houses for sale in the Chattanooga area dropped by nearly 29% from a year ago. Chattanooga Times Free Press 4.14.22
Interest Rates:
- The average contract rate on a 30-year fixed-rate mortgage increased to 5.13% in the week ended April 8 from 4.9% a week earlier. Chattanooga Times Free Press 4.14.22
- Rates are up more than 1.5 percentage points since the start of the year, when the Federal Reserve began to tighten financial conditions to cool demand in the economy amid high inflation. Chattanooga Times Free Press 4.14.22
Inventory:
- Inventory of homes for sale in the greater Chattanooga area as of Jan. 1, 2022 are down 36.2% from Jan.1, 2021. And down 62.8% from 2019. (Source: Greater Chattanooga Realtors).
Tennessee/Chattanooga Rankings:
- In 2021, Tennessee placed 3rd in U-Haul’s top 50 states growth analysis. U-Haul Story Jan. 2, 2022.
- Tennessee has the second lowest tax burden of all states. Chattanooga Times Free Press, March 29, 2022
- 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)
Job Growth:
- 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)
Our Team. Your Resource.
In this unprecedented climate, we are here to help you analyze ,navigate, and maximize the current market. It will be our privilege to utilize our 20+ years of experience in Tri-state real estate to assist you in reaching your goals.
We are available to you at any time at [email protected] or phone (423) 413-4507.
Honored to be your real estate resource.
Todd Henon
Broker-Agent: TN, GA, AL
Top 1% Greater Chattanooga Realtors
Chattanooga’s First Accredited Land Consultant
3 Decades Serving in Tri-State Real Estate
423.413.4507
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