Chattanooga Home Sales Increase By 15.4 Percent In April

Wednesday, May 22, 2013

The S&P/Case-Shiller Home Price Index showed that home prices in 20 major metropolitan areas had increased at the strongest pace since the bubble years. Major national indices are telling the story that local MLS data users have known for months or even years. The housing market is recovering. The recovery varies by geography and market segment, but things are certainly better than they have been and are showing no signs of letting up.

Closed Sales in Chattanooga rose an astounding 15.4%, closing with 645 residential units. New Listings in the Chattanooga region were up 9.8 percent to 1,180. Inventory shrank 8.2 percent to 4,826 units. Prices moved higher as the Median Sales Price was up 3.8 percent to $135,000.

Days on Market decreased 8.0 percent to 126 days, the twelfth consecutive month of year-over-year declines. Months Supply of Inventory was down 18.3 percent to 8.5 months, indicating that demand increased relative to supply.

GCAR President Mark Blazek said, “The prickliest thorns in our collective side are still lack of inventory and subdued listing activity. In some neighborhoods, consumers have 50 or 60 percent fewer options from which to choose than they did a few years ago. That's causing bidding wars in popular areas. Despite the competitive landscape for buyers, housing remains one of the brightest lights in an otherwise subdued economic recovery.”


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The Bi-Lo shopping center at 6951 Lee Hwy . has been sold for $8,943,471. The sale is to Spirit Master Funding Ix Llc from Bi Chattanooga Portfolio Lp. The center, which is anchored by a Bi-Lo grocery, is at the corner of Shallowford Road.  (click for more)

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2 People Shot Saturday Night On Carousel Road

Two people were shot Saturday evening on Carousel Road. At  9:11 p.m. , Chattanooga Police responded to 1406 Carousel Road on a call of a person shot. One victim on the scene suffered minor injuries.  Another victim was transported by personal vehicle to a local hospital. The s econd victim suffered non-life-threatening injuries.  The suspect ... (click for more)

Teenager Killed In ATV Accident Thursday Night

Damon Lee Jones, 15, was killed Thursday night in an ATV accident in Walker County. It was reported he was riding with a 17-year old, when they tried to enter a church parking lot, but ran into a cable barrier. The accident happened on Dunwoody Road in LaFayette. The other rider, identified as Timothy J. Wallin, was not injured.   (click for more)

Tom Dugan Was A Good Man

Tom was my boss for most of my 36 years at Carta.  At the ceremony where I was awarded my 30-year service award, Tom said, "Don disagrees with 85% of my decisions, but I wish I had 80 more employees just like him." This kind of indicates our relationship. When I asked him to help with my plans for a reunion for the group of Veterans that I served with in Vietnam, he quickly ... (click for more)

Roy Exum: More Sunday Funnies

On the last Sunday before Daylight Savings Time disappears next week, let’s go to my jokes back for some grins and giggles: * * * An old gentleman was on the operating table awaiting surgery and he insisted that his son-in-law, a renowned surgeon, perform the operation.  As he was about to get the anesthesia, he asked to speak to his son-in-law. “Yes, Dad, what is ... (click for more)