Eastridge Tennessee Real Estate
Home prices are rising as the stock of homes on the market continues to shrink as more people move to Chattanooga as a number of new homes are built. The median value of the Chattanooga home market dropped to 50 days in 2018 - 15 days fewer than in 2017. In 2018, only 2,615 apartments were for sale at the end of the year, compared with 4,723 apartments with active listings in 2014, when 4.7 had 23 houses active. The median market values also fell in 2017, meaning homes in Chattanooga are selling faster.
Homes in Chattanooga, TN, were sold in December 2018, with the median sale price being $178.2k, and the offer price for an active listing house at the end of the year was just over $1.5 million, or $2,300 less than the same month in 2017.
The percentage of delinquent mortgages in Chattanooga is 0.6%, below the national average of 1.8% and the second lowest in the country. In January, the number of homes receiving foreclosure filings in Chattahoochee, TN, was just over 1,000, or about 1% of all homes in Tennessee.
The median rent in Chattanooga is $1,262, less than half the national average of $2,927 and about 1.5% below the federal average. Despite the projected increase in Tennessee's housing costs over the next few years, Chattanooga is still an affordable market. As long as the supply of housing meets demand and market entry - affordable housing remains affordable - property investors will not miss an opportunity.
Locals can show you the various options available in Chattanooga, Tennessee. Please contact us to arrange counseling at 423-265-5100 at our Chattanooga office, or email travi @ tchome.com or call us at (423) 488-1882 or call us at  265-5100.
Every week, you'll receive an email with information on the latest real estate news and deals in Chattanooga, Tennessee. Check the LittleBigHomes page for the latest deals and deals in the Chattanooga region and beyond every quarter.
What makes the Chattanooga market stand out for you when it comes to choosing an investment location for 2019? One of our investment specialists will contact you to discuss the purchase or ownership of a turnkey investment property. Read the best books on real estate and learn from savvy real estate investors who retired early in their lives, about investing in Chattanooga, Tennessee, one of the most attractive markets in the country for investment. Look for turnkey investment properties and be sure to check the LittleBigHomes.com website for the latest deals, information and deals on properties in your area in Chattanooga.
Its affordability and strategic location near the Tennessee-Georgia border has turned Chattanooga into a hotbed of housing change. Unchecked, vacant homes and apartments in Chattanooga are straining the real estate market and keeping prices at levels that, if left untreated, could seriously damage the local economy. If someone does not pay their rent, a Chattanooga apartment owner can receive an eviction notice, which will allow him to be evicted. If they do not control their property and hold on to it for too long, they could lose up to 50% of their value before they are occupied.
While the number of properties for sale on RealtyTrac is 909, there are 87 properties in Chattanooga, TN owned by the bank. Trulia has 607 resales and sales of new homes, including Bank - currently in the Chattanooga area.
According to a real estate company called Neigborhoodscout.com, single-family homes are the most popular form of housing in Chattanooga, TN, and account for more than a third of all single-family homes in the Chattanooga area. People in Chattahoochee, Chattanooga, live in a number of different types of single-family homes, such as duplexes, townhouses and apartment buildings. Other types of apartments that are prevalent in Nashville and Chattanooga include homes that have been converted into apartments and other small apartment buildings.
Median household income in Chattanooga, TN, was $179.9 K in the first quarter of 2016, an increase of $177.5 K over the same period last year, and a 12.5% year-over-year increase. The average monthly income for a single-family home in Chattahoochee, Tennessee, is $140, higher than the Chattanooga metro average of $131.
Home sales are forecast to rise 5.2% this year compared with the same period last year and 4.5% year-on-year. Tennessee has the lowest tax burden of any state in the South, and has one of the highest median household incomes and the highest median home prices. Those who want to invest in the real estate market in Chattanooga will appreciate the low cost of living, high quality of life, and low interest rates. Days are getting shorter on the market, suggesting strong demand for single-family homes in Chattahoochee, TN and the Chattanooga metro area.
Chattanooga is also said to have the fastest Internet in the entire United States, which most home buyers are now considering because we live in a high-digital age. Life in downtown Chatt is very exciting, with many restaurants, bars, shops and entertainment options, not to mention the Riverfront, home to many of Tennessee's most popular attractions, such as the Tennessee Museum of Natural History and the Chattahoochee Riverwalk.