Median Sales Price Blossoms In May

Monday, June 23, 2014

While some have noted a slight pause this year in the housing recovery, the American dream of homeownership is alive and well, according to the Greater Chattanooga Association of Realtors.

Officials said, "We must still contend with market fluctuations. If buyers are expected to buy homes, they need homes for sale. Also, buyers need reliable financing, better jobs and stronger wage growth. The opportunities are out there, and it is important for people take advantage of them."

Home sales decreased by 9.7% in the month of May, closing with 635 residential homes sold. For buyers out there looking, it’s encouraging that in May, New Listings in the Chattanooga region increased 6.4 percent to 1,227. Despite a slight shrink in inventory levels shrank by 0.6 percent to 5,215 units. Also absorption rates slowed as Month’s Supply of Inventory was up 4.5 percent to 9.3 months. Days-on-Market increased 8.1 percent to 133 days.

The Median Sales Price increased 6.7 percent to $154,450.  The Average Sales Price increased to $185,145, which reflects a 5.4 percent increase from April’s numbers. Even better news regarding prices is that both the median and average sales price are up nearly 8 percent from a year ago.

Vicki Trapp, president of the Greater Chattanooga Association of Realtors said, “We’ve had a mixed bag of economic news lately. As expected, national GDP contracted slightly during Q1-2014, which most economists attribute to impermanent factors like the harsh winter. We’ve now had more than four straight years of monthly private sector job growth. It hasn’t been extraordinary growth, but it sure beats mass layoffs. Buoyed by an improving sales mix, home prices continue their ascent despite erratic demand indicators.More inventory, more high-skilled job growth, and less economic and political uncertainty are still top priorities.”


Tim Morrison Joins Crye-Leike Office In Ooltewah

Crye-Leike, REALTORS welcomed affiliate broker Tim Morrison to its office in Ooltewah. Mr. Morrison comes to Crye-Leike from Wendy Dickerson Realty after being there for 9 years.   “I am very happy with the move,” said Mr. Morrison. “Crye-Leike offers so much support and training.” Mr. Morrison assists buyers and sellers in Hamilton, Rhea and Bradley counties. He is ... (click for more)

Real Estate Transfers For Aug. 20-26

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)

Hutcheson Medical Center Seeking Court Approval To Sell Trenton Family Practice For $350,000

Hutcheson Medical Center, continuing to make cost-cutting measures, is seeking court approval to sell the Trenton Family Practice at Trenton, Ga., for $350,000. Ted Rumley, county executive for Dade County, said the medical center is so important for the county that officials have arranged for the Dade County Industrial Development Authority to buy it. He said arrangements ... (click for more)

Sheriff Hammond Says Chattanooga Shooting Was Illustration Of "Islam Terrorism"

"Communism with a god.” That’s how Hamilton County Sheriff Jim Hammond sees Islam.   He also said Muslims are aiming to overtake Tennessee. He said, "They want Tennessee. They are building mosques as fast as they can."    In an address to the Pachyderm Club on Monday, Sheriff Hammond spoke again to the community on the effects of radical ... (click for more)

Sheriff Hammond Is Right On The Muslim Threat

Sheriff Hammond is exactly correct on the Muslims in Tennessee.  He sees with clear eyes the problem with the Muslims in our state and country.  They do want to take over Tennessee.  Our politicians are selling us down the river and allowing the trouble makers to dig in like tics and suck out the life's blood of our Constitution and take us over.  They ... (click for more)

Roy Exum: UT’s Gender-Neutral Dopes

With due apology to Smokey, the University of Tennessee’s famed blue-tick hound, the tail is wagging the dog at UT-Knoxville. Donna Braquet, the director of the university’s Pride Center, wants to suck 99.9 percent of the 28,000 students into a ridiculous scheme that will make the campus “welcoming and inclusive for all” … .01 percent. Her idea is to do away with binary gender ... (click for more)