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.”


Realtors See Some Positives In June Sales Figures

Officials of the Chattanooga Association of Realtors said they see some positives in June sales figures. Officials said, "Upon first review of our June residential market statistics, housing seemed to have had a slow start in the spring selling season. But don’t let appearances deceive. As you dig into that spring soil, you begin to unearth differences in individual areas and ... (click for more)

Real Estate Transfers For July 10-16

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)

Black Creek Developers Say They "Followed The Rules" On $9 Million TIF: To Continue Project

The developers of the Black Creek project at Aetna Mountain said Thursday they "complied precisely by the rules when we applied for and received approval of the TIF district." Doug Stein said the group plans to continue on with the project, which he said earlier would include the creation of a small town on a huge undeveloped tract on the mountain above Black Creek (formerly ... (click for more)

WTCI Says Fleischmann Ad Included Unauthorized Use Of Logo

Officials of WTCI TV said a Chuck Fleischmann TV ad contained an unauthorized use of the public TV station's logo. Officials stated in a letter to WTCI viewers: "We understand that members of our community may have received a printed communication from the Chuck Fleischmann for Congress Committee featuring the headline "Weston Wamp Supports Amnesty for Illegal Immigration." ... (click for more)

Cell Phones And Roundabouts

I read the article written by Chris Morgan about the use of cell phones in vehicles and the Chattanooga Roundabouts. Cell phone use in vehicles especially in crisis intersection situations is extremely dangerous. I also agree with his assessment about the roundabouts. One problem I see with roundabouts is that on the two-lane roundabouts where they are coming in from ... (click for more)

Roy Exum: Two Wrongs Not Right

Scottie Mayfield is a delightful friend of mine but he’s the last guy in the world who should be aiming at anybody’s character. He’s always had class but today Scottie is the “star” of a shameful political commercial in which he assails challenger Weston Wamp on behalf of a panicked Chuck Fleischmann. Mayfield, you’ll remember, ran against the two in the last race for the District ... (click for more)