How the 2019 Housing Market Ended in Chattanooga
The 2019 housing market in the Chattanooga area ended with a bang. Closed sales were up by 29% in December. The Walldorfs just sold a $900,000 home in December. It is more common to have a slow down in sales in December than a surge in sale. Pending home sales were up 11.6%, meaning that a bunch of homes are closing in January. The median sale price was up 10.3%. Lower mortgage rates offset price gains to keep home buying more affordable. We finished 2019 with only 2.6 months of inventory, which is really low. A balanced real estate market has 5 months of inventory. The Greater Chattanooga Realtors reported, "Buyer demand continues to be strong but with tepid seller activity still in many locations, total sales are lower than they would be in a more balanced market." We need your homes on the market if you are thinking about selling. Call the Walldorfs so we can help you sell your home. 423-544-7700. We have professionals lined up to help you get your home ready to sell.