Here’s your Chattanooga January 2021 real estate market update.
The Greater Chattanooga Association of Realtors just released the January 2021 real estate numbers, and I’m sharing them with you today:
| Metric | January 2020 | January 2021 | Percentage of Change |
| New Listings | 1028 | 893 | -13.1% |
| Closed Sales | 730 | 739 | +1.2% |
| Days on Market | 57 | 38 | -33.3% |
| Median Sales Price | $205,000 | $235,000 | +14.6% |
| Homes for Sale | 2489 | 956 | -61.6% |
What we have to watch out for is the number of homes for sale. The inventory has gone done from 2489 homes for sale last January 2020 to 956 homes for sale this January 2021. That is a -61.6% decrease. This morning when I checked the MLS, the inventory is just a little over 700 homes for sale.
A lot of people of people are wanting to buy. The interest rates are low. But the inventory is really struggling and we are having a hard time finding homes for a lot of buyers.
If you have questions about how these numbers affect your buying or selling plans, don’t hesitate to reach out to me. I’d love to help you. Click here for more information.
