.png){kind=logo}
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 percent to 1,214. Pending Sales increased 2.5 percent to 788. Inventory increased 34.5 percent to 2,743.
Median Sales Price increased 3.1 percent from $319,950 to $330,000. Days on Market increased 24.4 percent to 56. Months Supply of Inventory increased 33.3 percent to 3.2.
According to NAR, 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