Chattanooga, TN home prices and housing market

In Chattanooga, homes are now taking seventy days to sell, and one in five listings has already cut its price. Here is what that means if you are weighing a sale this year. The typical home here is worth about three hundred thirty one thousand dollars, down about one point three percent from a year ago. That is not a collapse, but the direction is clear. Meanwhile buyers have plenty to look at, with roughly twelve hundred homes for sale across the area. And seventy days on the market means the average sale now takes more than two months from listing to contract. But here is the catch. Sellers are still asking a median of three hundred fifty thousand dollars, nearly twenty thousand above what a typical home is actually worth. That gap is exactly why more than one in five listings has had to cut its price to find a buyer. So the move is simple: price at the market, not above it, because an ambitious number now costs you months of waiting and ends in a cut anyway. To see where your home really sits today, get a free estimate at Home Value Pros dot com.