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.”



Historic Graysville, Ga., Mill House With 24 Acres For Sale

The historic Graysville, Ga., mill house, with 24 acres, is for sale. Asking price is $898,000. The property along South Chickamauga Creek is part of the village set up by the Gray family near where the Western and Atlantic Railroad passed. A home was later built on the base of the old mill. The location is still a popular swimming hole, and the old highway bridge is nearby. (click for more)

Home Prices Rise In September

In 12 month’s time, local real estate prices have climbed higher, showing signs that that nation’s recovery is holding steady, for the time being. First time homebuyers are in the driver’s seat as a consistent inventory of homes for sale and reasonable interest rates for borrowers continue to encourage new purchases, according to the  Greater Chattanooga Association of Realtors. ... (click for more)

Mayor Berke, Chattanooga Police Department, And Community Members Reach Out To Group Members To End Violence

The city of Chattanooga held a call-in on Thursday night, as part of the Violence Reduction Initiative. Dozens of law enforcement officials, community members, social service providers and clergy gathered to deliver a message to over 20 members of violent groups in Chattanooga. Family members of the probationers watched the call-in from another building. Although the call-in was ... (click for more)

Man Airlifted To Erlanger After Early Morning Crash In Bradley County

Bradley County EMS responded to an early morning crash Thursday at 7 a.m. at the intersection of Lauderdale Memorial Highway and Walker Valley Road in Charleston. Three ambulances and an EMS supervisor responded to the scene. There were three vehicles involved and one car left the roadway.   One adult man suffered serious injuries and it was determined that he needed ... (click for more)

Chairs Cost How Much?

Many times while growing up, I would go to the store with my parents. More often than not, I would see something I wanted, and ask my parents to buy it for me. More often than not, they said no. “Why?” I asked. “Son, money doesn’t grow on trees.” That’s a phrase I’m sure many of us have heard more than once over the course of our lives. However, I have since learned that they were ... (click for more)

Roy Exum: My Dear Friend Luther

One sunny morning in June years ago, the renowned radio icon Luther Masingill was on his way back to the WDEF studios on South Broad Street when he stopped for a red light and noticed a young couple in a car idling next to his familiar light blue Ford pickup. “What caught my eye was a buck-toothed boy eating a banana in the back seat,” he explained in an aside to that day’s lunchtime ... (click for more)