Here’s your Chattanooga December 2020 Chattanooga real estate market update.
The Greater Chattanooga Association of Realtors just released the December 2020 real estate numbers, and I’m sharing them with you today:
| Metric | December 2019 | December 2020 | Percent of Change |
|---|---|---|---|
| New Listings | 712 | 748 | +5.1% |
| Closed Sales | 944 | 984 | +4.2% |
| Days on Market | 50 | 31 | -38% |
| Median Sales Price | $215,000 | $239,000 | +11.3% |
| Homes for Sale | 2,552 | 1,197 | -53.1% |
The number of homes for sale is what’s caused all the trouble this year. The morning of the recording of this video I checked that numbers again, and it’s down to 924 Chattanooga houses for sale on the market. It’s simple supply and demand; the demand is there, but we don’t have enough supply because interest rates are currently extremely low, which raises prices. We believe interest rates should stay low, but we’ll keep an eye on it.
If you have questions about what these numbers mean for you or any other real estate matter, don’t hesitate to reach out to us via text or email. We would love to help you. Click here to know more or you can reach us through the numbers below
(423) 595-7958
(423) 664-1600
RealtorRyanKing@gmail.com
