Chattanooga’s real estate market continues to evolve in 2024, presenting both opportunities and challenges for investors. Here are key trends to watch:
- Steady Price Growth: While not as explosive as in recent years, home prices are still on an upward trajectory, particularly in desirable neighborhoods like North Shore and St. Elmo.
- Increased Demand for Affordable Housing: With rising costs, there’s growing interest in more affordable options, creating opportunities in areas like East Chattanooga and Alton Park.
- Tech-Driven Development: The city’s growing tech sector is driving demand for modern, amenity-rich properties, especially in the Innovation District.
- Short-Term Rental Market Saturation: While still profitable, the short-term rental market is showing signs of saturation. Investors should carefully consider location and target audience.
- Sustainable Building Practices: There’s increasing demand for energy-efficient and environmentally friendly properties, presenting opportunities for green investments.
- Suburban Revival: As remote work continues, suburbs like Ooltewah and Soddy-Daisy are seeing renewed interest from buyers seeking more space.
- Multi-Family Properties on the Rise: With housing affordability concerns, multi-family properties and apartments are becoming more attractive to both investors and renters.
Investors should conduct thorough research and consider consulting local experts to navigate Chattanooga’s dynamic real estate landscape in 2024.
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Grace Frank is a seasoned real estate professional with over 25 years of experience in listing properties, negotiating challenging situations and working with buyers. Our expertise is New Construction, Relocation, Existing Home Sales, Farm and Land Sales, Investment Listings, Investor Purchases up to $25M and Commercial Listings and Sales. For more information, contact the Grace Frank Group at (423) 355-1538 or email grace@gracefrankgroup.com.
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