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.


Real Estate Transfers For Nov. 18-24

Robert Backer: October Local Housing Market Statistics

Chattanooga's Million Dollar Homes


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 ... (click for more)

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National ... (click for more)

Chattanooga's Million Dollar homes, reflected in recent transactions, include: 8069 Jonathan Drive 5 bedrooms, 6 baths, 7,324 square feet on 1.0 acre lot. The sale was to Vpi Taft Hwy ... (click for more)



Real Estate

Real Estate Transfers For Nov. 18-24

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) in ... (click for more)

Robert Backer: October Local Housing Market Statistics

As temperatures drop, existing home sales continue to be plentiful, buoyed by strong demand, low interest rates, and a slight uptick in new listings in recent months, according to the National Association of Realtors. With interest rates inching upward, and experts expecting further rate increases on the horizon, motivated buyers are hoping to lock in their home purchases to take ... (click for more)

Breaking News

Bradley County Sheriff's Office Seeking Man Who Pointed Gun During Road Rage Incident

The Bradley County Sheriff's Office is attempting to locate a white male who pointed a gun at another driver during a road rage incident on Nov. 18. Authorities said, "At approximately 2:15 p.m., the Bradley County Sheriff’s Office responded to a road rage incident on Harrison Pike/I-75 overpass where a white male driving a blue/purple Kia pointed a handgun at a black Toyota ... (click for more)

Mobile Home Destroyed By Fire And 3 Cats Perish In Sale Creek Sunday Morning

A mobile home in Sale Creek is destroyed by fire Sunday morning. At 11:28 a.m., a neighbor called 911 reporting heavy smoke coming from a mobile home. The Sale Creek Volunteer Fire Department responded to 385 Border Loop and arrived on the scene reporting heavy smoke coming from the eaves of the mobile home. One team of firefighters entered the home, conducted an initial search ... (click for more)

Opinion

End The UTC Sports Nightmare - And Response (2)

UT Chattanooga’s loss today to the College of Charleston was embarrassing. I believe Coach Paris has done great things since he has been there, and hopefully today's loss will wake them up. But no losses could wake up the football team that should have been 9 and 2. The women’s basketball team, I know they have several good players out, but the trend since the loss of Coach Foster ... (click for more)

Roy Exum: Georgia Picked By 6½

So help me, I can hear the legendary Bear Bryant telling his players: “Bingo, we got Georgia right where we want ‘em, They are cocky, fat and sassy … all we got to do is keep our wits about us and do the things we know we can do. I know we can do it. Now, let’s get ready to play Georgia the game of their lives …” The trouble is Coach Bryant died almost 40 years ago and this week, ... (click for more)