Chattanooga Real Estate Guide

By Mark Spain Real Estate

As the fourth largest city in Tennessee, Chattanooga is growing at a rapid pace. Welcoming newcomers from in and out of the state, this charming southern city has become a spot on the map for Tennessee real estate. 

Whether you’re looking to buy or sell a home in Chattanooga, it’s beneficial to have a professional by your side to help navigate this competitive market. With decades of valuable industry experience, the experts at Mark Spain Real Estate are more than well-equipped to help you navigate Chattanooga real estate. Below, we’ve compiled a comprehensive guide to Chattanooga real estate for potential buyers and sellers of the River City. 

Chattanooga Real Estate Guide 

Chattanooga Real Estate Overview

Prospective home sellers and buyers in Chattanooga should familiarize themselves with local real estate trends before getting started. Our real estate experts recommend evaluating the following factors before entering the Chattanooga housing market. 

Median Sale Price

Chattanooga’s median sale price is $315,495 as of May 2023.

Number of Active Listings

The number of active listings in Chattanooga as of May 2023 is 1,466 listings, up 2% from the previous month. 

Days on Market

As of May 2023, the average number of days on the market for Chattanooga listings is 25 days, up 204% from May 2022. 

How Much Do Homes in Chattanooga Sell For?

The median sale price for a Chattanooga home listing is $315,495 as of May 2023. Chattanooga fosters a decently competitive market, with most homes receiving multiple offers. The majority of Chattanooga home buyers are those looking to relocate within the city. Of the portion of home buyers moving into Chattanooga from other cities, most come from nearby metropolitan areas like Atlanta or Nashville. 

When Is the Best Time to Buy or Sell a Home in Chattanooga?

Chattanooga real estate is booming year-round. However, certain points of the year may foster ideal conditions for prospective sellers and buyers. Like most southern markets, the warmer seasons yield the strongest selling opportunities in Chattanooga. Aim for either May or July to list your home to maximize profit and expedite your sale. In July, Chattanooga sellers sold their homes for over $50,000 more than average in August 2022. Meanwhile, that same year, home sellers in May sold their homes 16 days faster than average. Nevertheless, there’s no need to fret if your selling timeline cannot accommodate the prime selling season. Chattanooga sellers who list their homes in the winter or fall can still endure several benefits, like less seller competition, more serious home buyers, and festive holiday home staging opportunities. 

From a buyer’s standpoint, your time of purchase will depend on your unique circumstances. If you want to have a diverse selection of options to choose from, you’ll want to buy a home in the summer when home inventory is high. However, if you’re looking for the best bargain, your best bet is to search during the post-holiday winter months. In January and February, sellers are often highly motivated to sell and are willing to take lower offers. So, if you’re looking to get the best bang for your buck, time your purchase to align with the beginning of the winter season. 

How Can I Sell My Home Fast in Chattanooga?

Chattanooga fosters an excellent market for quick home sales. With conditions currently working in sellers’ favor, Chattanooga real estate yields quick sales, large home inventories and buyers pools, and competitive pricing. In May 2023, the average days spent on the market for a Chattanooga home was 25 days. 

As a seller, it’s important to take extra steps to ensure a quick sale, regardless if market conditions are in your favor. The best way to ensure a streamlined home sale is to have an experienced real estate agent in your court. The expert listing consultants at Mark Spain Real Estate facilitate a fast and seamless selling experience for our clients. We offer top-performing selling strategies to help sellers overcome any obstacles standing in the way of their quick sale. 

What Are the Best Neighborhoods in Chattanooga? 

Chattanooga real estate boasts many top-quality neighborhoods and nearby cities. From central neighborhoods with an urban feel to rural options away from the noise, there’s something for everyone in Chattanooga. Read below to learn more about some of Chattanooga’s top residential communities and neighboring cities.

Downtown Chattanooga

With gorgeous parks, historic attractions, hiking trails, and more, downtown Chattanooga is full of possibilities. This one-of-a-kind community is home to a wide range of home styles, from downtown lofts to cozy townhomes. Whether you’re looking to settle down or find a home base for limitless exploration, Chattanooga could be the right fit. 

Ringgold

As one of the most popular cities in the Chattanooga metropolitan area, Ringgold is a sought-after destination for prospective home buyers. Located on the Tennessee/Georgia border, Ringgold is the perfect spot to settle down and explore the southeast.

Rossville

Rossville is a Georgian city located in the Chattanooga Metropolitan area. With suburban communities on the Tennessee/Georgia state line, Rossville’s residential areasboast beautiful views of Missionary Ridge and Lookout Mountain. 

Dalton

Conveniently located between Atlanta and Chattanooga, Dalton offers endless possibilities for exploration. Residents love this Georgian city for its lively attractions, robust residential communities and strong livability. 

Hixson

Just outside of downtown Chattanooga, Hixson offers the perfect balance of urban and rural energy. Offering a blend of commercial spots and secluded residential areas, this Tennessee gem has something for everyone. 

La Fayette 

Nicknamed the Queen City of the Highlands, La Fayette is one of the most unique communities in Northwest Georgia. With outdoor recreation, friendly residential communities, quality education, and more, what’s not to love about La Fayette? 

Sell a Home in Chattanooga with Mark Spain Real Estate

Do you want to buy or sell a home in Chattanooga? The industry professionals at Mark Spain Real Estate are here to help you navigate Chattanooga real estate. With decades of industry experience, our team will help you become an expert in the Chattanooga housing market hassle-free! Check out our Guaranteed Offer Program for the potential to receive a competitive cash offer on your home in only 21 days. Contact our agents today!

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