The first Quarter of 2024 has been active for the North Chattanooga real estate market. In just the first quarter of this year, 75 homes have sold.
At the time of publishing, there are 104 homes currently for sale in the North Chattanooga area with residential real estate property options including everything from 2 bedroom condominiums priced at $189,000 to 16 bedroom homes priced at $9,500,000. Compare this to the 40 homes for sale last Fall and you’ll see the impact of the Spring Market.
Despite the increase in inventory, homes in North Chattanooga are still selling quickly if they’re priced well.
A home located at 510 Winston sold for $1,260,000 before it even made it on to the Multiple Listing Service. This home offered 2,252 square feet and a swimming pool. Another home located at 111 Abernathy – within walking distance to Coolidge Park – sold in just 3 days this year for $507,000. This home’s square footage was approximately 1400.
Now, not every North Chattanooga home is selling in a few days. The truth is, the average Market Time in the North Chattanooga area for Q1 of this is 47 days.
Here is a snapshot of North Chattanooga Home Sales based on 75 sales from January 1st 2024- April 30, 2024.
Market Summary
- Days on Market – 47
- Average List Price – $638,000
- Sale Price to List Price Ratio – 97%
- Average Square Feet – 2,205
- Average Cost Per Foot (Sold) – $274
The above are averages for Chattanooga Homes selling in the North Chattanooga area. Each home is different and many factors have an impact on value including: view, lot, special features (like pools), walkability, school district etc.
If you would like an assessment completed of your home’s value or would like to review the detailed report supporting the above summary, please don’t hesitate to let me know.
Contact me today to learn more about your neighborhood or your specific home’s value.