December Caps Off "Stellar Year" Of Homes Sales

Thursday, January 23, 2014 - by Robert Nodes

For the Greater Chattanooga real estate community, 2013 exceeded the average of the record numbers of 2012. Home sales and prices were higher across the nation, while foreclosure loads, the number of homes for sale and the number of days it took to sell a home were all much lower. Multiple-offer situations became commonplace again and prices in many areas rallied to multi-year highs. Depending on where you lived in Greater Chattanooga, your neighborhood has undergone some changes in ownership. 

Closed sales rose 8.2 percent to 552 residential units sold. For the year, closed sales were up 8.4 percent, finishing strong with 7,247 homes. New listings in the Chattanooga region increased 3.4 percent to 602. Inventory levels shrank 4.0 percent to 4,673 units.

Prices softened somewhat. The median sales price decreased 3.2 percent to $138,000. Days on market were up 0.8 percent to 134 days. Absorption rates improved as months supply of inventory was down 7.0 percent to 8.0 months.

In her first market report of her 2014 term, incoming GCAR President Vicki Trapp added, “Housing is fortified by confident consumers and good jobs. A slowly improving labor market stunted by political gridlock marked the year of 2013, and the Federal Reserve's long-awaited taper announcement was not surprising.”  

Saying farewell to his fellow GCAR Members, outgoing 2013 President Mark Blazek concluded, “Interest rates remain low, prices are still affordable, the employment picture looks decent and the stock market is up nearly 30.0 percent from this time last year. It's no wonder that buyers were active in 2013. Here's to more of the same in 2014.”



Center For Sports Medicine And Orthopaedics Is First Tenant For New 20-Acre Ringgold Development

Armour Commercial Real Estate and the Catoosa County Development Authority announced the first tenant for a 20-acre site being jointly developed as part of a public/private partnership and located just off of Georgia Highway 2-A in Ringgold, Ga. The Center for Sports Medicine and Orthopaedics will open a satellite location at the site located on Hwy 2-A across from Battlefield Imaging. ... (click for more)

Widows Harvest Hosts Ribbon Cutting For Home Harvest

Two years ago, Wells Fargo donated a historic and condemnable St. Elmo home at 5316 St Elmo Ave. to local nonprofit, Widows Harvest. For the past 24 months, Widows Harvest has worked with a team of contractors and interior designers to restore, remodel, and resuscitate this historic 2800-square foot home named Home Harvest. This gem is now ready to be placed on the market ... (click for more)

Robert Driver Jr. Shot At Bar Near Hamilton Place On Sunday Night

A man was shot at a bar near Hamilton Place Mall on Sunday night. At approximately  9:51 p.m.,  Chattanooga Police officers responded to the report of a person shot in the parking lot of Bar Louie located at 2100 Hamilton Place Blvd.   Responding officers located 34-year-old Robert Driver Jr. suffering from a gunshot wound. He was transported to a local ... (click for more)

1 Person Killed In 3-Car Accident In Dalton On Saturday

There was a fatal three-vehicle crash on the South Bypass in Dalton just south of Sawgrass Drive  on Saturday  at approximately  4:30 pm . The crash happened when the driver of a black Ford Mustang traveling southbound on the bypass for some reason left its lane of travel and crossed over the center line and hit a 2004 Chevy Silverado truck head on. ... (click for more)

Slaxxon Regret - And Response

Back in the seventies my three oldest brothers had a buddy named Steve Slack. “Slack” was a star soccer player at Baylor and he grew up on Lookout Mountain, which is where I grew up. He and Jimmy, Henry and Bill went to the University of Virginia where they were roommates in an old, beat up house that was painted pink. Naturally, the place became known as the “Pink Palace” but lest ... (click for more)

Roy Exum: This Library Comes Alive

I am pretty positive that I haven’t stepped foot in a library in the last 50 years. Between the ever-widening Internet, with all of its search engines and infinite resources, I have got about as much use for a library as I would if I read a book about a transgender person. I have neither the time or inclination. Be like trying to teach a pig to sing – the pig always get bored. ... (click for more)