When is the best time to buy a house in Cleveland, TN? For homebuyers around Cleveland, Chattanooga and the Southeast TN area, timing could mean everything when buying a home in 2024.
If you’ve been on the hunt looking for that perfect home, then the best time to buy is fast approaching says a recent study from realtor.com.
Market conditions converge during the week of Sept. 29 – Oct. 5 that give buyers some advantages unlikely to be matched at any other time this year. It could save you thousands of dollars and provide more options, whether it’s a house in Cleveland or a home in Chattanooga.
Why this week matters to buyers in Cleveland and Chattanooga
Home prices and high mortgage rates this season have kept buyer demand in check and made the 2024 homebuying season slower than usual. However, fall is expected to offer much better conditions. In particular, the week of Sept. 29 – Oct. 5 will be the sweet spot for buyers in both Cleveland and Chattanooga.
Nationally, market experts predict –
More Listings: There could be as many as 37% more active listings compared to the beginning of the year. That means buyers will have more homes to choose from, whether you’re searching for houses in Cleveland or homes in Chattanooga.
Lower Prices: Compared to peak summer, buyers can save upwards of $14,000 on a median-priced home of $445,000. For the person looking to buy in Cleveland or Chattanooga, this price drop makes a big difference.
Better Mortgage Rates: While the better part of 2024 is dominated by high mortgage rates, the fall is likely to bring in a little relief. In this regard, it may make homes more accessible to buyers- be it that cozy home in Cleveland, TN, or the modern house in Chattanooga, TN.
The first week of October is crucial
When buying a house in East TN, one should look into the first week of October. Buying in this window yields a balanced market that slightly favors buyers with more listings to choose from and possible savings because of lower prices and improved mortgage rates. Still, while the first week of October is perfect, the following two weeks are encouraging for homebuyers. If you are able to wait, you might find an even better deal, but you would miss some of the freshest listings that come your way somewhere in the beginning.
Why are Cleveland and Chattanooga, TN hot markets for homebuyers in 2024?
Both Cleveland and Chattanooga offer a great mix of urban and suburban living with proximity to outdoor recreation, good schools, and expanding economies. Here are some reasons why their names should be on your radar:
Houses in Cleveland, TN
Cleveland, TN boasts a range of historic charm mixed with modern amenities. It has everything from quaint historic homes to new home builds in burgeoning neighborhoods. Cleveland housing tends to be more affordable compared to larger cities, which can make the town very attractive for first-time buyers or growing families.
Homes in Chattanooga, TN
The scenery and vibrant downtown Chattanooga have been a rising star in real estate for a while now. The different neighborhoods and the strong job market have made it attractive to a wide array of buyers, from young professionals to retirees. From condos in Downtown to suburban mansions, Chattanooga has something for everyone.
By fall, Cleveland and Chattanooga homebuyers should be ready to move. The week of Sept. 29th – Oct. 5th, 2024 they will have an even better chance of finding a home with better pricing, more inventory, and possibly a lower mortgage rate. Be it homes in Cleveland or houses in Chattanooga, it is the time to get yourselves familiarized with the market, pinpoint your priorities, and gear up for making your move.
You want a top-ranked realtor when buying or selling your home! Cleveland Chattanooga Homes is ranked #14 out of 3000 realtors in Cleveland & Chattanooga, 2024
Ranked #12 in 2023 for listings & sales volume, Greater Chattanooga MLS
Ranked #7 realtor in 2024 by US News & World Report
Rated #3 in years of experience and #7 in transaction volume by homelight
Rated #5 Team for relocation by zillow
Ranked #11 for sales in area by homes.com
With 30 years of local hometown experience, and 28 days on the market, we get it sold! We’d love to help you buy a home during this time period or sell your home at the best possible time. Call, text or DM at (423) 503-2945
