GCAR Announces A Good Beginning In Sales In 2017

Thursday, March 23, 2017

According to the Greater Chattanooga Association of Realtors, the start of the year ushered in a wave of good news about a hot stock market, higher wages and an active home sales environment. At the same time, housing prices have continued to rise, and the low inventory situation and affordability crunch has been particularly hard on first-time buyers struggling to get into the market. Nevertheless, buyer activity is easily outpacing seller activity in much of the country, culminating in relatively quick sales and low supply. Demand definitely remained strong this month.

New Listings in the Chattanooga region decreased 15.1 percent to 968.

Pending Sales were up 2.4 percent to 847. Inventory levels shrank 23.4 percent to 2,967 units.

Prices continued to gain traction. The Median Sales Price increased 6.7 percent to $163,000. Days on Market was down 3.9 percent to 74 days. Sellers were encouraged as Months Supply of Inventory was down 29.4 percent to 3.6 months.

Unemployment has reached pre-recession levels, and Americans remain optimistic about finding quality employment. This matters because job growth and higher paychecks fuel home purchases. Unfortunately, that won't matter for potential buyers if price appreciation outpaces income growth and if mortgage rates continue their upward trend. Sellers are getting a generous number of offers in this market. The worry for sellers then becomes that there will not be a generous number of homes to choose from when they become buyers.


RE/MAX Mountain Properties Raises Over $26,000 For Children’s Hospital At Erlanger

Decision On Controversial Single-Family Home Project Near Pineville Road Delayed Until Dec. 11

Planning Commission Recommends Approval For Multi-Family On North Chattanooga Hillside


RE/MAX Mountain Properties in Murphy, N.C. has raised over $26,000 for Children’s Hospital at Erlanger this year through the Miracle Home and Miracle Property programs. RE/MAX Mountain ... (click for more)

A controversial project involving the construction of 61 single-family homes on Stringer's Ridge above Pineville Road has been delayed. A number of nearby residents protested the project ... (click for more)

The Planning Commission on Monday recommended approval for six multi-family homes on a North Chattanooga hillside, replacing three existing Craftsman style homes. Glen Craig of Craig Design, ... (click for more)


Real Estate

RE/MAX Mountain Properties Raises Over $26,000 For Children’s Hospital At Erlanger

RE/MAX Mountain Properties in Murphy, N.C. has raised over $26,000 for Children’s Hospital at Erlanger this year through the Miracle Home and Miracle Property programs. RE/MAX Mountain Properties Associates make a donation to Children’s Miracle Network Hospitals (CMN) after each residential and commercial transaction. These agents have donated $25 from each transaction to ... (click for more)

Decision On Controversial Single-Family Home Project Near Pineville Road Delayed Until Dec. 11

A controversial project involving the construction of 61 single-family homes on Stringer's Ridge above Pineville Road has been delayed. A number of nearby residents protested the project by William Wilson of Beason View Land Company at a meeting of the City Council. Donna Shepherd, representing the developer, asked for a 30-day deferral to hold a community meeting and ... (click for more)

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Attorneys Ask Lifting Of Home Confinement For Hazelwood After Higher Court Allows Him To Stay Out During Appeal; Government Is Opposed

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Tyner Man Arrested When Woman Finds Him With Items From Home Of Her Deceased Parents

A Tyner man has been arrested after police said a woman found him at the home of her deceased parents. J.C. Donaldson, 32, of 7239 Tyner Road, is charged with aggravated burglary. The woman said she found a white Buick in her parents' driveway. She said she called her sister to ask if it was her, but she said it was not. She ran into Donaldson, who told her that someone ... (click for more)

Opinion

Bring Jeff Styles Back Now That His Case Was Dismissed

Now that prosecutors have dropped charges against Jeff Styles — and he's not been found guilty by a jury of his peers — I hope Bill Lockhart and WGOW will return him to the station. I'm believe his listeners will welcome him back with open arms. After one has been through a ringer like this, I'm not sure how you get your life back unless a good guy like Mr. Lockhart steps up ... (click for more)

Roy Exum: The 2018 Turkey Edition

We are less than a week away from Thanksgiving so today we are going to take a tiny turn away from regular Saturday Funnies to give way to our 2018 Turkey Edition Special. The idea is for this year’s Turkey edition to help you be the first invited for “seconds” in honor and recognition of your marvelous wit. Actually, this setup is remarkably easy. Early next week you next begin ... (click for more)