The real estate market is showing strong momentum as we move further into 2025. Nationally, existing-home sales have continued their upward trend for the third consecutive month, with notable increases in higher-priced home purchases.
Locally, Chattanooga’s housing market remains active, with a rise in new listings, pending sales and inventory creating more opportunities for both buyers and sellers.
U.S. existing-home sales advanced for the third straight month, climbing 2.2% to a seasonally adjusted annual rate of 4.24 million units – a 10-month high according to the National Association of Realtors (NAR).
Sales were up 9.3% year-over-year, driven largely by purchases of homes priced $500,000 and above. Month-over-month, sales rose in the South, Northeast and the West but fell in the Midwest, with all four regions reporting year-over-year gains.
New listings in the Chattanooga region increased 18.8% to 1,214. Pending sales jumped 2.5% to 788. Inventory rose 34.5% to 2,743.
The median sales price increased 3.1% from $319,950 to $330,000. Days-on-market leaped 24.4% to 56. Months-supply-of-inventory rose 33.3% to 3.2.
According to the NAR, the total housing inventory was 1.15 million units heading into January – a 13.5% decrease from the previous month but a 16.2% increase from the same period one year earlier for a 3.3-month supply at the current sales pace.
Housing supply remains down compared to pre-pandemic levels and the limited number of homes on the market continues to push sales prices higher nationwide, with the median existing-home price rising 6% year-over-year to $404,400.
As inventory improves, the market is showing signs of stabilization but home prices continue to rise due to ongoing demand.
Whether buying or selling, it’s crucial to stay informed and work with a Realtor who understands current trends. Greater Chattanooga Realtors remains committed to providing up-to-date insights to help our community navigate the evolving market. #ThatsWhoWeR
Founded in 1912, Greater Chattanooga Realtors is the voice for real estate in Greater Chattanooga. A regional organization with more than 2,700 members, Greater Chattanooga Realtors serves Hamilton and Sequatchie counties in southeast Tennessee and Catoosa, Dade and Walker counties in northwest Georgia. The association is one of approximately 1,100 local associations and board of Realtors nationwide that comprise the National Association of Realtors. Greater Chattanooga Realtors owns and operates a Multiple Listing Service that is one of approximately 600 MLSs in the country and services more than 3,000 users. Local association membership is comprised of Realtors servicing the Greater Chattanooga area and specializing in a variety of disciplines – including appraisal, commercial, industrial, land, multi-family, property management and residential. Working alongside Realtors are our affiliate members, who represent related industries in sympathy with the objectives of the association. Our affiliate members include mortgage lenders, home inspectors, title and closing services, pest inspection and control and insurance.