The Chattanooga market continued to shift this October, and if you’re a homeowner trying to understand what all these numbers really mean, don’t worry — I’m going to break it down in a way that’s simple and stress-free.

Even though the national market picked up a little thanks to lower mortgage rates, Chattanooga had its own story this month: more homes coming onto the market, prices cooling a bit, and buyers taking their time instead of rushing in. Let’s walk through what’s happening and how it may affect your plans.

More Homes Are Coming on the Market

This October, 1,333 homes were listed, which is a 2.3% increase from last year. Year-to-date listings are also up 5.8%.

This basically means one thing: Sellers have more competition. Buyers have more options.

If you’re thinking about selling, this is the kind of market where pricing and presentation matter. Homes aren’t getting snapped up instantly like they were a couple years ago.

Buyers Are Still Active — Just More Selective

We saw 881 homes go under contract, up 3.3% from last October. So the demand is there, but buyers aren’t rushing. They’re comparing, thinking, and choosing carefully.

This is normal in a market that’s balancing out.

Closed Sales Are Up a Bit, But the Year Overall Is Still Catching Up

865 homes closed in October, a small 2.2% bump over last year. But for the year as a whole, closed sales are down about 1.1%.

This tells us the market isn’t hot or cold — it’s leveling out.

Homes Are Taking Longer to Sell

The average home sat 50 days before going under contract. Last year it was 46 days. That’s an 8.7% increase.

Gone are the days where a home hit the market on Friday and was sold by Sunday. Today’s buyers are taking a little more time, and that’s okay — it’s just part of the shift.

Prices Eased Up a Little This Month

Here’s the part most people want to know:

The median price dropped from $350,000 to $330,000, a 5.7% decrease compared to last October. But looking at the year as a whole? Prices are still up 2.2% year-to-date.

So no, the bottom isn’t falling out. But sellers should expect prices to stabilize rather than keep climbing nonstop.

Average Prices Dipped Too

The average sales price for October was $395,366, down 4.8% from last year.
Year-to-date, though, we’re up 2.7%.

Again — softening, not crashing.

Sellers Are Still Getting Strong Offers

On average, sellers received 95.4% of their original list price, nearly identical to last year.

So while the pace of the market has slowed, buyers aren’t coming in with insultingly low offers either.

Affordability Actually Improved

The Housing Affordability Index rose to 92, up 9.5% from last year.

Lower mortgage rates and the slight price dip made it a bit easier for buyers to make the math work.

Inventory Has Grown Significantly

This is the biggest story of the month.

Inventory jumped from 2,979 to 3,657 homes, up 22.8%. That’s a major increase.

More inventory = more choices = less pressure on buyers.

For sellers, it simply means: The house needs to be priced right and marketed well.

Months of Supply Continues to Increase

We’re now sitting at 4.2 months of inventory, up 20% from last year.
A balanced market is 4–6 months, and we’re moving right into that zone.

This confirms what we’re already feeling:

This is no longer a “sellers rule everything” market. It’s a fair market — and for many people, that’s actually a good thing.

What This Means for Chattanooga Homeowners

If you’re thinking about selling in the coming months:

Homes are still selling — just not overnight.
Prices are holding steady overall, but not surging.
Buyers are thoughtful, not frantic.
You’ll want a clear plan, whether that means listing, exploring a cash offer, or comparing your options.

And if you’re dealing with a tough situation — foreclosure concerns, inherited property, major repairs — the good news is:
You’re not stuck. You have options.

I’ll happily walk you through what your situation looks like in today’s market and help you figure out the best move — no pressure, no pushy sales pitch.

Final Thoughts

October showed us exactly where Chattanooga’s market is heading: more balanced, more predictable, and giving both buyers and sellers a fair shot.

If you’d like a breakdown of what these numbers mean for your home, I’d be happy to help you compare all your options — listing, cash offer, or investor-based solutions.

Just let me know, and we’ll figure out the best path together.