What a difference a year makes in the Chattanooga Real Estate market. In January 2024, home inventory was sluggish. Sellers were very slow to list homes and this sluggish sales environment continued through the first half of 2024. Slowly, homes were listed for sale but Sellers were in the driver’s seat and Buyers had to act quickly to purchase the home they wanted.
In January 2025, we’re seeing a completely different situation.
Higher mortgage rates in 2024 slowed the real estate market (as it was intended to do). And with fewer Buyers wanting to purchase at 7%+ rates, inventory was allowed to build. Again, this was the intention of the rate hike — to cool real estate sales and slow the pace of pricing.
And it has worked.
In January 2025, we’re seeing in excess of 2,600 homes for sale. That’s a 50% increase over January 2024.
That’s very good news for Buyers. But for Sellers we’re now seeing far more competition across the Chattanooga area in general. And we’re seeing a lot more homes for sale in Missionary Ridge.
The Missionary Ridge real estate market has been fast-paced throughout 2024. With an excellent central location, gorgeous homes for sale, nice lot sizes and breathtaking views, the demand for this area has increased significantly. In addition, those homes that have been in families for a long period of time and require updating are being quickly purchased by investors and homeowners alike.
Although many prefer to purchase move-in ready up-to-date homes, there are many savvy Buyers who understand the return on investment they will see if they do they work themselves. And this knowledge is driving demand in Missionary Ridge.
A quick review of 2024 Missionary Ridge Home Sales shows just how high the demand for our neighborhood continues to be. This is based on the information available through the Chattanooga Multiple Listing Service.
Average 2024 Missionary Ridge Sale Price – $834,909.
Average 2024 Missionary Ridge Days on Market – 12
The number of Days on Market for Missionary Ridge specifically is a much shorter period of time that the Chattanooga area overall which is averaging 55 days on market.
Average 2024 Missionary Ridge Cost Per Foot* – $255
*It’s important to note the average cost per foot is influenced by a number of variables that are unique to each individual property including: view, condition of home, property size/location. However, this metric can be helpful when looking at home value trends over time.
There are a number of homes for sale in Missionary Ridge at this time. So we shall see, with the increase in inventory available, how this impacts our values over time.
One thing is certain. In today’s current Chattanooga / Missionary Ridge Real Estate Market, you have far more competition if you’re thinking of selling. Please be sure to enlist the assistance of someone who will actively market, show and *sell* your home to ensure you’re getting the best price possible.
Should you have any questions at all — or would like to discuss how I personally use marketing expertise to sell homes — contact me directly to learn more.
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Thyra DeCicco – Broker/Owner
Love Where You Live Realty
Missionary Ridge, Chattanooga TN 37404
Contact me directly via phone: (423)994-4676 or by email at: thyra@listwithlove.net.
And I will see you in the neighborhood.