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.”



Robinson Team Of Keller Williams Realty Ranked Number 1 In Southeast Region

Jay Robinson and the local Robinson Team were ranked as the Top Group in the Southeastern Region of Keller Williams Realty for the month of June.  The local office outpaced groups from Atlanta, Nashville, Savannah that also made it to the Top Ten list.  Mr. Robinson noted that the ranking is one shared by his entire team.  “We have such an amazing group of professionals ... (click for more)

Nation's Largest Tiny House Event Coming To Chattanooga

The United Tiny House Association, organizer of the for-charity Tiny House Festivals and the Nation’s largest tiny house event held in Florida, is bringing its for-charity Tiny House Festival to Chattanooga. The 2017 Tennessee Tiny House Festival is coming to Audubon Acres Sept. 8-10. The United Tiny House Association will be bringing dozens of tiny houses and micro ... (click for more)

Cleveland City Council Votes 4-2 To Pass A 46-Cent Property Tax Increase

The Cleveland City Council, with scant public notice, voted 4-2 on first reading on Monday afternoon to approve one of the largest property tax increases in the city's history. Richard Banks, Bill Estes, Tom Cassada and Vice Mayor Avery Johnson voted for a 46-cent property tax boost. Opposed were Charlie McKenzie and David May. Dale Hughes and Mayor Tom Rowland were absent ... (click for more)

Police Find Large Cache Of Meth, $23,134 Cash On Hensley At Motel Near Hamilton Place; Police Say He Was Supplier To Rossville Man Who Died In June 29 Overdose

Chattanooga Police said they found Michael Wade Hensley with a large cache of meth, a loaded handgun and $23,134 cash after being summoned to a motel near Hamilton Place Mall last Wednesday. Police said they believe that Hensley, 41, was the supplier for a 36-year-old Rossville man who died of an overdose on June 29. Hensley is now facing federal charges of possession of meth ... (click for more)

Do Something To Protect Our Children

It is unconscionable in this day and age that these children had to exist in such deplorable conditions and that an innocent baby suffered and died alone in a locked car.  Yes, there is blame and accountability considering this family had child neglect charges filed a few years ago (that were apparently dropped and expunged) and a large part of the responsibility should ... (click for more)

Roy Exum: Not Many Know This

The best story of the summer – by far – came out of Panama City over the Fourth of July weekend when over 80 total strangers on a Panama City beach responded to screams. Two boys, ages 14 and 11, were caught in a rip tide and all of these “angels” quickly formed a human chain -- over 80 people with their arms locked -- to stretch out in the water, reach those kids and tug them out ... (click for more)