At the present time relatively few U.S real estate markets are hotter than the Chattanooga real estate market.
Over the course of the past few years the numbers of building permits, real estate closings, and new listings throughout this city have all increased from year to year.
Why is Chattanooga Real Estate So Desirable?
Improved economic conditions, in particular, the falling unemployment number, are partly responsible for the recent boom in Chattanooga real estate. Of course, these sales are also being driven by the many benefits that the Chattanooga lifestyle offers.
Indeed, Chattanooga is a lovely place in which to live and work. Home to more than 528,000 people, this city in southeastern Tennessee features fine restaurants, upscale shops, museums, and first-class performing arts venues. Many of its public and private schools are renowned for their excellence as well.
Natural Beauty and Ease of Living
People who live in Chattanooga can delight in nature’s wonders at any time; the city’s official nickname isn’t “Scenic City” for nothing. It’s nestled amid the Appalachian Mountains, the Tennessee River, and two stunning lakes: Chickamauga and Nickajack.
Positioned in and around Chattanooga are spectacular caves, hiking trails, parks, arboretums, waterfalls, and ideal spots for canoeing and kayaking. It’s a terrific city for couples as well, a place where you and your significant other could regularly enjoy romantic river cruises and strolls by the lake.
Chattanooga real estate is especially sought-after due to the quality of life that the city provides. For instance, getting around this metropolis is surprisingly convenient. Parking spaces tend to be plentiful, and the public transportation options ― including an innovative electric shuttle service ― are reliable.
You can also take advantage of an extensive bicycle-sharing program, one that incorporates about 300 bikes. In addition, it’s a great city for walking. Many of its wide, attractive streets appear to have been tailor-made for pedestrians, and the city’s extensive River Walk is popular with people of all ages.
Statistics Tell the Story
Given all of the benefits described above, it is understandable that the current Chattanooga real estate statistics are so impressive. For example, as of December 2014, the average listing price for a home was slightly more than $226,000, and the median home price stands at a healthy $143,000.
And, to put those figures into perspective, the median sales price for a Chattanooga home was 6.9 percent higher in December 2014 than it was in December 2013. What’s more, the average price of a Chattanooga residence in December 2014 amounted to $114 for every square foot, a number that was 7.5 percent higher than it had been 12 months earlier.
Commercial Property in the Scenic City
If launching a small business or finding a new job is of primary concern to you, know that Chattanooga is home to a wide variety of industries and commercial establishments, including three major hospital systems, numerous manufacturers, and several energy companies.
Furthermore, tourism is hugely important to the city’s economy. Chattanooga is among the most popular places for vacationers in the Southeastern United States, and it offers its visitors many exciting attractions and beautiful hotels.
Commercial real estate throughout this city is therefore thriving. In fact, starting in 2012, the commercial real estate sector has been experiencing record growth in various parts of Tennessee, and Chattanooga is one of them. Today, offices, industrial parks, retail spaces, warehouses, and other buildings for doing business and making products are in demand.
Why Not Give Chattanooga a Look?
In short, considering the high demand and the range of options that are obtainable, Chattanooga real estate represents a uniquely robust investment opportunity, one that could ultimately lead to prosperity and happiness!
Follow this link for more information about the Chattanooga real estate market at Wikipedia.com.
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Joe Pleva, Director
202 Manufacturers Road
Chattanooga, TN 37405