Lookout Mountain's real estate market is experiencing a price correction, with values down 9.6% from last year. Home prices have increased 236.2% in the past month alone. With only 2 active listings, inventory is 67% lower than typical for this time of year. Homes are taking about 160 days to sell, which is -62 days longer than this time last year. The majority of homes (100.0%) sold above asking price, a clear sign of competitive bidding. Affordability remains a significant challenge in the Lookout Mountain market with the affordability index at 1212.9. Market projections suggest continued price appreciation in the coming months as demand outpaces supply.
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