In the midst of our national housing shortage, the number of Greater Chattanooga houses currently for sale is beginning to ever-so-slowly lessen the gap between supply and demand. But, we still have a long way to go.
Today, local inventory is higher ⬆️ than at any time since 2008. As a result, local Buyers are experiencing slightly greater selection and negotiating power than in recent years.
However, we still have only a two-months of inventory, versus a more balanced six-month supply that was typical in a pre-Covid market. This means, Buyers must still be ready to move quickly on properties of interest.
For Sellers, rising inventory means tighter competition. Critical keys to a successful sale include accurate pricing and flexible negotiation. The good news is that local prices have more than doubled over the past 8 years, rising at an average annual rate of ⬆️ 15% and enabling a strong ROI.
For solid data-driven investing, visit our Current Market Data page on ToddHenon.com , where we update local market stats and trends weekly.
