Lakesite Housing Market Report December 2024•Hamilton County, Tennessee

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Housing Prices in Lakesite, TN

How much do homes in Lakesite, TN cost?

Housing Market Conditions

Is Lakesite, TN a buyer’s or seller’s market?

Housing Market Conditions

This is the supply and demand for houses in an area based on home prices and trends.

Buyer’s Market

A buyer’s market occurs when the number of available properties for sale exceeds the number of buyers looking to purchase. In a buyer’s market, the supply exceeds the demand.

Neutral Market

A neutral market occurs when the number of buyers looking to purchase properties meets the number of available properties for sale. In a balanced market, there are enough homes to meet the demand.

Seller’s Market

A seller’s market occurs when there are more buyers looking to purchase properties than there are available homes on the market. In a seller’s market, the demand exceeds the supply.

Seller'sMarket

Buyer'sMarket

Lakesite is a Seller's Market

Difference Since December 2023

Since last year, Lakesite has remained a Seller's Market.

Insight

Lakesite is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Median Sold Price

Median Sold Price
This is the middle price for which all homes in the area were sold. Half of all the homes sold were below this price, and half were above.
$400,000$171/SqFt
+$2,750
+0.7%

Based on all homes sold in the last 12 months

Insight

Homes in Lakesite have sold for 0.7% more than they did a year ago.

Summary: The median home sold price in Lakesite was $400,000 in December 2024, up 0.7% from last year, and the median price per square foot was $171.

Median Sold Price By Bedrooms

Median Sold Price By Bedrooms
This is the middle price for all homes actively listed in an area broken out by the number of bedrooms. Half of the homes are listed below this price, and half are above.
BedsDec 2023Dec 2024Change YoY
1--
N/A
2$400K$345K
-13.8%
3$383K$342.5K
-10.6%
4$459K$470K
+2.4%
5$443.7K$368.8K
-16.9%

Summary: Lakesite housing price by bedroom type for December 2024, compared to the previous year. The home price for 1 bedroom homes did not change. The home price for 2 bedroom homes decreased by -13.8%. The home price for 3 bedroom homes decreased by -10.6%. The home price for 4 bedroom homes increased by +2.4%. The home price for 5 bedroom homes decreased by -16.9%.

Housing supply in Lakesite, TN

How many homes are available in Lakesite, TN?

Number of Homes For Sale

Number of Homes For Sale
This is the total number of homes actively listed in an area.
Last Month2 months agoChange MoM
10Last MonthDec 2024
152 months agoNov 2024
-33.3 %
Change MoMNov – Dec

Summary: The Lakesite real estate market had 10 homes for sale in Dec 2024, a 33.3 % decrease compared to Nov 2024.

Number of Homes Sold

Number of Homes Sold
This is the total number of both homes sold and pending in an area.
Last Month2 months agoChange MoM
6Last MonthDec 2024
52 months agoNov 2024
+20.0 %
Change MoMNov – Dec

Homes For Sale By Bedroom Count

Homes For Sale By Bedroom Count
This is the total number of homes actively listed in an area by number of bedrooms.
BedsNov 2024Dec 2024Change MoM
100
0.0%
220
-100.0%
375
-28.6%
443
-25.0%
522
0.0%

Summary: Lakesite housing inventory by bedroom type for December 2024, compared to the previous month. The inventory for 1 bedroom homes remained the same. The inventory for 2 bedroom homes decreased by -100.0%. The inventory for 3 bedroom homes decreased by -28.6%. The inventory for 4 bedroom homes decreased by -25.0%. The inventory for 5 bedroom homes remained the same.

Asking Price vs. Sold Price

How much do homes in Lakesite, TN cost?

Asking Price vs. Sold Price

The asking price is how much a home is listed for. The selling price is how much the home actually sold for.

Under Asking

Homes that sold for less than the asking price

At Asking

Homes that sold at their asking price

Over Asking

Homes that sold above the asking price

Over Asking Price2 Homes

At Asking Price0 Home

Under Asking Price4 Homes

Insight

If you're buying a home in Lakesite, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Lakesite in December 2024, up by 20.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and and 33% were sold over asking.

Days on Market for Lakesite, TN

How long does it take to sell a home in Lakesite, TN?

Breakdown of Home Sale Times

Under 30 Days1 Home

30 – 90 Days1 Home

Over 90 Days1 Home

Insight

Many homes in Lakesite are selling fast, if you're buying plan to act quickly.

Summary: During December 2024, 6 homes were sold in Lakesite; 17% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.

Average Sale Time

Average Sale Time
This is the average number of days homes take to sell in an area.
This Year1 year agoChange YoY
54 DaysThis YearDec 2024
0 Days1 year agoDec 2023
0.0 %
Change YoYDec 2023 – Dec 2024

Summary: Homes in Lakesite had an average listing age of 54 days in Dec 2024, down by .0% compared to the previous year.

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Newest Listings in Lakesite, TN

What homes are available in Lakesite, TN?

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MLS Disclaimers and Copyright

Based on information from Chattanooga MLS / Multiple Listing Service of Chattanooga Inc., and RealTracs Middle Tennessee Regional MLS for the period 01/01/2023 - 01/01/2025

IDX The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2025 Greater Chattanooga Association of REALTORS®.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/23/2025, 11:50:55 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.
IDX Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.

All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.

IDX© 2025 of the REALTRACS MLS. All rights Reserved.

The data relating to this real estate for sale on this websites comes in part courtesy of the IDX program of the REALTRACS MLS. Real estate listings held by brokerage firms other than this broker are marked with the REALTRACS IDX Logo. REALTRACS and this broker deem all information reliable but not guaranteed, and should be independently verified. REALTRACS and this broker assume no responsibility for typographical errors, misprints or misinformation.

REALTRACS, this broker and their affiliates provide the MLS and all content therein “AS IS” and without any warranty, express or implied. The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
Data displayed may be a portion of, and not a complete set of all listings published in the MLS.
Last updated on: 1/23/2025, 11:48:49 PM Eastern. If you have any questions regarding the accuracy of this data, please contact us at help@rockethomes.com.