Chattanooga Tennessee Real Estate
Home prices are rising as the stock of homes on the market continues to shrink as more people move to Chattanooga as a number of new homes are built. Homes in Chattanooga, TN, were sold in December 2018 and the median sale price was $178.2k. The median day - on - the market for Chattanooga homes fell to 50 days - 15 days - in 2018, a decline from 2017. Home prices have risen, while the stock of homes on the market continues to shrink, meaning homes in Chattahoochee are selling faster. In December 2018, the average selling price for a Chattanooga home on the market is $1,924,000, with the median selling price at about $177.2K. Median prices in the markets have also fallen, meaning that homes around Chattanooga are being sold at higher prices.
The median day - on - the home market in Chattanooga, TN, in December 2018 was 50 days - 15 days, a decline from the 50-day average of 2017.
The 56-year-old real estate agent, who heads the 10-person Robinson team at Keller Williams Realty Chattanooga, was involved in 230 residential property sales totaling nearly $110.7 million in December 2018. This was achieved through 133 transactions involving real estate agents, with an average price of $1.2 million.
Robinson's team, which joined Keller Williams in 2014, has seven of the top 10 sales agents, with each office owning a different office - owned by Keller Williams. While Robinson primarily represents home sellers and works in the Chattanooga region, there is also a team - based in Nashville, Chattanooga, Knoxville, Nashville and Nashville - that sells in Chattanooga. The average price for the best real estate agents in Chattanooga was $1.2 million in December 2018, according to the National Association of Realtors (NAR).
Based on 611 home sales, the average price for the best real estate agent in the Chattanooga region was $168,000 in December 2018. That makes Chattanooga one of the most expensive markets in Tennessee for home sellers and could mark the beginning of a trend toward a more competitive market in Chattanooga in 2018 and 2019. The average cost of living for a single-family home in Nashville in November 2018 is $179.9K, up 12.5% year-on-year.
With housing supply unable to meet demand for housing and access to affordable housing, property investors are missing an opportunity.
If you are considering buying a residential property in Chattanooga, TN, don't waste your time and make an offer today. Browse through our offers in Downtown Chattanooga or call us at 423 - 488 - 1882, send us an email at travi @ tchome.com or tell us when you would like to visit the house in person. You can check out our site at LittleBigHomes every quarter and locals will be able to show you the various home options available in and around Chattanooga Tennessee.
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If you are a real estate buyer interested in moving your home, or a real estate seller who wants to learn more about the market and the local real estate market in their area, please contact us and let us work with you to achieve your goals. Maybe you have invested something and want to develop things further and make it a hobby.
Whether you are a beginner or an experienced professional, you may have realized that the most important factor determining your success as a real estate investor is finding large real estate investments. Savvy real estate investors who retired early in their lives have learned to invest in places like Chattanooga, Tennessee, Nashville, TN, and other parts of the country. What makes the Chattanooga market stand out for you when it comes to choosing an investment location for 2019?
Its affordability and strategic location on the Tennessee-Georgia border has made Chattanooga a breeding ground for housing burglaries. Unchecked vacant homes and apartments in Chattanooga are straining the real estate market and holding down real estate prices in Chattanooga to levels that they could reach if they were absorbed by the market before they were occupied. If it is maintained at levels that keep it at the top of the list of the most expensive markets in the US, if not controlled, it can drag down the housing market. They have slowed the fastest price growth in Chattanooga, Tennessee, pushing down real estate prices to levels that could be achieved if vacant homes are absorbed by the markets before they are occupied, and could cause a marked drop in prices if they are occupied.
Housing prices in Chattanooga are well below average prices compared to national prices, but it is still an affordable market, despite the projected increase in housing costs due to its strategic location on the Tennessee-Georgia border and its proximity to major cities.