Local Market Snapshot

Hamilton County Single Family Homes, Updated 10.4.22

ACTIVE LISTINGSUNDER CONTRACTSOLD HOMES IN 30 DAYS
717718408

Greater Chattanooga Market Data, Year to Date

Year to Date, All Greater Chatt Counties, Single Family Homes, As of 10.4.22

YEARNEW LISTINGSUNDER CONTRACTSOLD HOMES
202211,8379,5129,155
202111,46310,2789,725
202010,6179,4638,773
201911,4808,6628,345

Source: Greater Chatt MLS

 

Greater Chattanooga currently has less than 2 months of inventory. For perspective, National Association of Realtors notes “balanced market” is 6 months of inventory. 


 

Regional Data and Statistics

Sales Volume:

Pricing:

  • While Chattanooga’s median home price of $355,000 is at an all-time high, it is 15% below the national median home price of $410,000 (GCAR, 7.2022).

Speed:

  • In 2022, the typical home in Chattanooga (Hamilton Co.) is selling in 14 days, compared with 22 days in 2021, and 129 days a decade ago. (GCAR, 9.2022)

Interest Rates:

  • The average contract rate on a 30-year fixed-rate mortgage increased to 6% in September 2022, up from 3% in January 2022. (CNBC, 9.2022)

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. (GCAR).

Tennessee/Chattanooga Rankings:

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)
  • 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)

 


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

How Can We Serve You? Contact Our Team

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