We all want to make wise, data-driven real estate decisions, right? To do so, it’s never been more critical to look beyond headlines and view numbers through an informed and historical lens.
Are We in a Slow Down?
While the market is normalizing a bit, demand in our area has more than doubled in the last decade. 2022 marks the second highest number of homes sales in history in Hamilton County…just 5% below the all-time high in 2021 (YTD).
Where Are We Headed?
Here at home, inventory is still at a critical low level, but up 3% from this time last year. The Greater Chattanooga area continues in its most robust market in history, driven by affordability, growing job market and mild climate.
TN RANKINGS:
- 2nd lowest tax burden in the U.S.
- #8 in U.S. for in-bound migration; 306 people moving into Chattanooga for every 100 people moving out.
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The driving force in today’s premium-priced Real Estate market is the basic law of supply & demand. Economists predict demand will likely exceed supply nationwide for the next 4-10 years keeping prices and values at a premium.
Soooo… is it a Buyer’s or Seller’s market?
We’ll explore that next time…
For more Current Market Data, a conversation about your real estate goals or a complimentary property valuation, our expert Team of Agents, Researchers, Marketers, and Contract Specialists would be honored to put our 2 decades of experience to work for you at 423.413.4507.
