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 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)

Woman Gets Workhouse Time, Lengthy Supervised Probation In Hit-And-Run Death Of Man On Moped

A Trenton, Ga. woman was given a four-year sentence following a lengthy hearing in the December 2012 hit-and-run death of a man in St. Elmo. Betty Mundy will serve 11 months and 29 days of the sentence in the workhouse and then be under a lengthy supervised probation, Judge Barry Steelman said.  She was charged in the death of 56-year-old David Joe Bruce. She pleaded ... (click for more)

Angela Faye Shepherd, 50, Arrested In Stabbing On Glass Street

Angela Faye Shepherd (formerly Parker), 50, was arrested early Sunday morning after stabbing another female. Chattanooga Police responded to 2302 Glass Street at 12:15 a.m. to an assault. The victim, Dionne Parker, and Ms. Shepherd were both patrons of the Pay-Pay Lounge. Ms. Shepherd was formerly married to the current husband of Ms. Parker.   The victim advised that ... (click for more)

No Tax-Supported Entity Should Get Secrecy In Spending

A shadowy situation has emerged in Chattanooga with an organization that manages millions of taxpayer dollars with no transparency and such a surprising disregard for accountability that one wonders what it would take to wake up elected officials who are supposedly in charge. Welcome to the Chattanooga Area Convention and Visitors Bureau, whose lawyer threatened to sue the ... (click for more)

Roy Exum: A Genius Comes This Way

They claim that about 50 years ago there was this special night at the Tivoli Theater. The “Jewel of the South” had been sold out for weeks and about 45 minutes before Louis Armstrong, or whoever, was to appear, incomparable John Robere had pulled out all the stops on “The Mighty Wurlitzer” and the excitement was keen. This tuxedoed dandy – he was even wearing spats – escorted his ... (click for more)