Home Sales Up To 8.4 Percent In March

Monday, April 22, 2013

Home sales were up in March, according to officials with the Greater Chattanooga Association of Realtors.

Officials said, "First, tightened inventory levels combined with strong demand are fueling price gains in many areas. Second, consumer demand is shifting from distressed properties to conventional homes. Third, record-low mortgage rates and rising rents are supporting housing recovery." 

Closed Sales marched forward to the tune of 8.4% ending with 593 Residential Units sold. New Listings in the Chattanooga region were up 5.2% to 1,083. Inventory shrank 9.0% to 4,707 units. 

Prices were stable, as the Median Sales Price remained flat at $130,000. Days on Market decreased 4.5% to 128 days, the 11th consecutive month of year-over-year declines. Months Supply of Inventory was down 19.2% to 8.4 months, indicating that demand increased relative to supply. 

GCAR President Mark Blazek said, “On the economic front, things inched forward. We saw a minor but important upward revision to Q4-2012 GDP growth that put us back in positive territory. In the political arena, key debates over the deficit, marriage, gun law, and immigration reform and tax policy rage onward. The squeaky wheel gets the grease, and with this emerging housing recovery, there are no imminent housing-related bills. Perhaps that's a good thing.”


Real Estate Transfers For April 13-19

NOTICE: The Hamilton County Register’s Office did not publish this data. All information in the Register’s Office is public information as set out in T.C.A. 10-7-503. For questions regarding this report, please call Chattanoogan.com at 423 266-2325. GI numbers, listed when street addresses are not available, refer to the location of transactions (book number and page number) ... (click for more)

Large Condo In The Southside To Be Sold At Auction April 20

One of the largest condominiums in Downtown Chattanooga's Southside will be sold at auction on Thursday, April 20, at 6 p.m., at the condo.  The property, located on the second floor of 1401 Chestnut St., is a modern, up-scale urban loft style condominium that was fully remodeled in 2009. It includes living, entertaining and working areas, as well as two bedrooms which can ... (click for more)

Erlanger Has Surge In Revenue; Admissions Up Over 12%

Erlanger Health System reported substantial growth in revenue and effective cost management for the third quarter. Net income from operations of $8.5 million exceeded prior year by $7 million and also exceeded budget by $1.3 million.    The health system had an 8.8 percent increase in total net revenue. Officials said the quarter generated strong EBITDA (e arnings ... (click for more)

Former County Jailer Pleads "No Contest" In Cancer Faking Case

A former Hamilton County corrections officer pleaded no contest on Monday to charges that he got time off from work and donations from co-workers after he faked having cancer. Dale Daniel was granted diversion through an agreement with the district attorney's office. The charges will go off his record if he does not get into any further trouble for a year. Daniel will have ... (click for more)

Don't Clog Up The Last Remaining Semi-Unobstructed Route Into Town From North Of The River

The proposal to turn Hixson Pike in Riverview into a more pedestrian friendly street is more than absurd.   Let's be honest. This is the last semi-unobstructed route into town from north of the river, due to I-27 construction and the bike lane/parking lot that is North Market Street.  So, now the businesses in Riverview would like parking on this main artery? ... (click for more)

Roy Exum: New Orleans Slaps History

It was balmy and relatively quiet on Sunday afternoon in New Orleans. The flowers of spring were in full flush on Canal Street and, as darkness began to cloak the city, no one was aware that a cadre of police snipers was quietly setting up in a hotel parking garage across from the Liberty Place monument. Shortly after 1 a.m. yesterday morning, a number of large trucks rumbled past ... (click for more)