I posed a question in a poll yesterday on Facebook. I asked if homeowners located in the town of Signal Moutnain thought that their house was worth more than the same house located in the Town of Walden. The results were somewhat predictable with the majority of the people saying that yes, they did. The Signal Mountain housing market is a strange market. On Signal Mountain you have the Town of Signal Mountain, The Town of Walden and Unincorporated Hamilton and Sequatchie Counties.
Signal Mountain housing market by the numbers
First off let me say that in the MLS there is no way to search for Town of Signal Mountain, Town Of Walden or just Hamilton County on Signal Mountain. I had to draw a few maps so they may not be 100% correct but they are very close. These are for CLOSED properties from 1-1-2017 to 9-21-2018. The thing you will notice is that there are more SOLDS in the Town Of Signal Mountain than Walden. This is because that there are more homes in the Town of Signal Mountain.
Appraisers do not care that the house is located in either the Town of Signal Mountian or Walden or Hamilton County. They are looking for the closest comps that fit the house that they are appraising and do not care that it may be located in another town. Usually when buyers are looking for a home on Signal they do not specify that they are looking in Walden or the Town. Usually buyers want to see any home that is either zoned for a particular school or that fits their needs and wants.
Walden By The Numbers –
There were 49 SOLD properties with an average sales price of $421,202 with an average Days On The Market of 58.65. At this time there are 17 Active properties with an average list price of $720,923 with an average DOM of 134.
Signal By The Numbers –
There were 277 SOLD properties with an average sales price of $571,656. The average Days On The Market of 69.5 days. There are 59 Active listings in the Town Of Signal Mountain at this time with an average List price of $537,689 with an average DOM of 103.
If you have any questions about the Signal Mountain real estate market or any other part of Chattanooga Contact Us Here.