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.”


Real Estate Transfers For Nov. 6-12

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)

Neighbors Want Signed Covenant On Restrictions For Issa Project On East Brainerd Road

Neighbors said they want a signed covenant on agreed restrictions for a $25 million development by Bassam Issa on a large tract at East Brainerd Road and Ooltewah-Ringgold Road. Mark West, a neighbor leader, said the agreement was hammered out after 16 meetings between the developer and the group. However, he said many of the restrictions were not included in the resolution ... (click for more)

Bradley County Police Investigating Shooting

The Bradley County Sheriff’s Office is investigating a shooting that occurred in the area of Georgetown Road.  A BCSO officer was waved down at the intersection of 25 th Street and Peerless Road by the driver of a vehicle who told the officer a gunshot victim was inside. The officer followed the car to SkyRidge Medical Center. Several people soon arrived at the ... (click for more)

Police Investigating An Armed Robbery On Friday Night At UTC

UTC Police are investigating with the Chattanooga City Police an armed robbery in Lot 4 near Boling Apartments on Friday night. The suspects are described as two black men.  One was six feet tall, wearing a navy jacket, with medium skin tone and short hair.  The other suspect was reported to be 5’ 7”, wearing blue jeans and a long white T-shirt. The second suspect ... (click for more)

Don't Allow Us To Be Overrun By People Who Do Not Belong Here - And Response (6)

Thank you, Senator Corker, for your clear, concise evaluation of the president's attempt to bypass Congress and personally and independently establish national policy that violates our current immigration laws.   Our long-standing failure to enforce our laws to control illegal immigration across our southern border has made this country less safe and ... (click for more)

Roy Exum: Our Tubman Goat-Roping

Every spring there comes a bright day on the ranch when the straw-boss decrees a goat-roping should take place. What really happens is the veteran cowboys arm the greenhorns with some lariats late in the afternoon and take them to the pen that holds some Billy goats. This is before they get into bigger beasts -- horses and cattle – yet what appears to be easy most certainly is not. ... (click for more)