Home Sales In Chattanooga Decrease Slightly In 3rd Quarter

Thursday, November 08, 2012

The Multiple Listing Service (MLS) of the Greater Chattanooga Association of Realtors released statistical data covering the third quarter of 2012 on Thursday, with comparison figures for the previous quarter, and the same period of last year.

Unit sales in the third quarter showed a slight decrease of 2.4% from the second quarter of this year, but an encouraging 11.5% increase over the third quarter of 2011.

The Median Price indicator has shown a steady increase from the third quarter of 2011 of 1.8%, and a rise of .9% from last quarter. Average Days-On-Market is steadily decreasing, by 5.8% year-over-year, and 1.5% from the second quarter of 2012.

Foreclosure sales have also steadily declined within the Greater Chattanooga marketplace to a post-recession low point of 24.9%, a stark contrast from the 1-in-3 ratio prevalent during the worst of the recession.


Home Prices And Sales Rise In July

Although low supply and tight credit standards are still hurdles to recovery, prices continue to rise in most local areas. Job growth has strengthened lately, but wage growth has not kept pace with the price gains we have seen.   Buoyed by stable and continuously lower interest rates, affordability is still historically high yet below its all-time peak. Rising inventory ... (click for more)

John Shearer: Covering The Derek Dooley House Auction

On Saturday, as part of my freelance journalism work I do, I had an opportunity to cover the scheduled auction of former Tennessee football coach Derek Dooley’s home in West Knoxville. He has, of course, moved on to Dallas with his family as receivers coach of the Cowboys of the NFL, but his large and historic home bought within his first year at Tennessee for more than $2 million ... (click for more)

Detectives Investigating Death Of 3-Year-Old Boy At Soddy Daisy

Detectives are investigating the death of a three-year-old child, who was rushed to the hospital on Wednesday and later died. The Hamilton County Sheriff’s Office was dispatched to 10710 Jenkins Circle, Soddy Daisy, on Wednesday on a report of a boy having drowned in the bathtub.  Deputies arrived on the scene and immediately took over CPR until Hamilton County Emergency ... (click for more)

Shooting Of 15-Year-Old Began As Argument Between Teens

According to police, the Tuesday night shooting of a juvenile on Taylor Street started as an argument between the two young men. Terry Marshell Smith Jr., 19, was arrested the following day. Police said the former Hixson High School student shot the juvenile in the shoulder after their argument and then fled the scene.  According to police, Smith admitted to the shooting. ... (click for more)

Better Plan For Walnut Street Hotel

Mitch Patel and his Vision Hospitality Group have unveiled a revised plan for a hotel on Walnut Street. It is much better than the one proposed two years ago. By having no curb cuts on Walnut Street, it makes that special block near the bridge more inviting and safer for pedestrians. Deliveries would be off Riverfront Parkway and hotel access (valet parking) would be off Aquarium ... (click for more)

Thanks For Making The Southern Brewers Festival A Success

Now that the dust has settled I'd like to thank Chattanooga for supporting the Southern Brewers Festival and making it yet another very successful event.    For those who do not know - the SBF benefits the Chattanooga chapter of Kids on the Block and the Chattanooga Community Kitchen.  As a partner helping the SBF with volunteers, sponsorships and the overall production ... (click for more)