Hamilton County TN Home Inventory Low Below $325,000. Judging by last 6 months sales, Chattanooga real estate market is good for sellers IF you have a home priced for sale below $325,000. Months of inventory is in single digits for all homes below $325,000. What is months of inventory? The time in theory that it would take to sell all the existing homes for sale if no others entered the competition. Months of inventory is simply a barometer of the Chattanooga home market health. The market measured in this chart shows only Hamilton County, TN. You may wonder why inventory levels of lower price homes is not higher. I have written in earlier posts that the lower priced homes have not been selling as well. The fact is that fewer homes priced under $100,000 have sold in 2013, but the inventory levels remain low relative to the existing sales. My observation is that fewer foreclosures are selling and investor activity is slowing. Chattanooga homes are selling quite well, especially homes that are younger or have been rehabbed.
If you have a house for sell that happens to be in a price range that extends into double digits, don’t panic. The chart is for the entire county. Not your subdivision or area of town. We need to dig a bit more for your neighborhood.
Do you have a house for sell that is in a short bar, but it is not attracting an offer? Then my suggestion is to make your property more attractive, lower the price, or increase marketing to attract more potential buyers. (or perhaps all three)
Selling a house is simple. Turning loose of home is difficult.
Hamilton County TN Home Inventory Low Below $325,000. Perhaps it is time to consider a move!