The Chattanooga housing market is starting to turn a corner. After months of slower movement and low inventory, March brought a noticeable shift: more homes hit the market, buyer activity increased, and prices remained steady. Whether you’re planning a move or simply keeping tabs on the market, the latest numbers offer a clear snapshot of what’s happening—and where things may be headed.
Inventory Sees a Strong Surge
In March, there were 2,888 homes listed for sale across Greater Chattanooga—a 40.7% increase from February. This marks one of the most significant month-over-month jumps we’ve seen in quite some time.
For buyers, that means more choice. For sellers, it signals growing competition, making pricing, presentation, and marketing more critical than ever.
Median Prices Continue to Climb
Despite the increase in inventory, home prices continued to rise. The median sales price in March reached $333,000, up 2.5% from the previous month.
This tells us the demand is still strong, especially for well-maintained, move-in-ready homes. If you're considering selling, this price growth offers a solid foundation—but only if your listing stands out from the growing crowd.
Homes Are Selling a Bit Faster
The average days on market dropped slightly to 50 days in March. It’s a small shift, but a meaningful one. Buyers are getting back into the market—and they’re making decisions quicker than they were just a month ago.
For sellers, this is a cue that momentum is building, especially as the season changes and more buyers look to make a move before summer.
Pending Sales Are Picking Up
March saw 1,119 homes go under contract—an 11.8% increase over February. That’s a strong indicator that buyer confidence is rising.
More activity now means more closings in the months ahead, and it suggests that the spring market is gaining traction, just as expected.
Closed Sales Are Down—But It's Likely Temporary
There were 800 closed transactions recorded in March, which represents a 15.4% decline from February. But this doesn’t signal a downturn—it reflects slower contract activity from earlier in the year. With pending sales rising, we anticipate those closed numbers to rebound soon.
What This Means for You
If you're a seller: Inventory is rising, but demand is still strong. Now’s the time to make your move—just be sure your pricing and marketing are in sync with current market expectations.
If you're a buyer: You’ll find more options than earlier this year, but well-priced homes are still moving quickly. Having a solid plan, financing in place, and an agent who understands the local market will give you an edge.
If you're just watching: This is the moment to stay engaged. The numbers are shifting, and understanding those trends now will help you act with confidence when the time is right.
At Kyle Johnston Homes, we help buyers and sellers navigate the market with clarity and confidence. Whether you're planning a move soon or just starting to explore the idea, let’s talk about how this market fits your goals.
Let’s make your next move a smart one—together.
