Chattanooga Real Estate

Chattanooga is one of the five largest cities within the state of Tennessee; unlike the other cities in Tennessee, Chattanooga's economy is a mixture of services companies and manufacturing industries. Many of the other cities have long since gotten rid of their manufacturing companies, and have turned completely service-commercial.

The services that can be found in Chattanooga are cell phone companies, bakeries, food facilities, transportation, financial companies and various others. As for manufacturing, they have manufacturing and distribution of Altoid mints, soda productions, distribution of petroleum product through Colonial Pipeline, and various other companies.

Chattanooga is also home to the University of Chattanooga, which brings in the aspect of students and staffing requirements. This brings us to the Chattanooga real estate field; real estate in Chattanooga is a tough area right now, but it is that way throughout the United States, because of the tightened economy. There are numerous houses on the market, but not enough credit to lend, to help many people purchase houses.

However, fair portion of the current Chattanooga real estate has been under foreclosure; these houses are significantly cheaper in pricing. A good amount of the Chattanooga real estate that is on the market consists of single-family houses. The prices of the foreclosed houses have been anywhere in between $50,000 to $100,000. When it comes to Chattanooga real estate, the asking price has been around $228,000. However, even though there is wide price bracket of houses, which can go high into the hundred thousands, the median sales for Chattanooga real estate are only a little over $100,000.