Kim Bass: September 2019 Market Statistics

Wednesday, October 16, 2019 - by Kim Bass, president, Greater Chattanooga Realtors

With the kids back in school and the weather cooling, the housing market begins its annual cooldown as well. Nationally, buyer and seller activity remained strong, buoyed by low mortgage rates and a strong economy. The market fundamentals suggest no significant changes from recent trends, other than the seasonally tempered pace we see this time of year. As we move into the final three months of 2019, buyers will find fewer homes coming on the market, but also less competition for those homes.

In Washington, there are discussions around a broad overhaul of the housing finance system, including the re-privatization of Fannie Mae and Freddie Mac and reforms to federal agencies involved with financing substantial portions of the mortgages made every year. Many of these policy conversations and eventual changes will take months or years to be implemented, and their impact is not yet clear. Halloween decorations are beginning to adorn homes around the country, but our real estate market this fall is looking far from scary.

New Listings in the Chattanooga region increased 7.0 percent to 1,126. This increase is typical after the usual summer slowdown.

Pending Sales were up 8.9 percent to 879. With the increase in Pending Sales outpacing New Listings, inventory levels shrank 10.9 percent to 2,816 units.  

Prices continued to gain traction. The Median Sales Price increased 10.8 percent to $209,190.  Days on Market was up 19.0 percent to 50 days. Sellers were encouraged as Months Supply of Inventory was down 15.8 percent to 3.2 months.

Markets may change, but Realtors’ commitment to serving our clients doesn’t. Navigating a market that can shift quickly is just one reason why consulting a Realtor is so important. We keep a watchful eye on trends locally and nationally that might affect our clients and community. That’s Who We R. 

 



Hannah Muller Named Volunteer Engagement Manager Of Habitat For Humanity Of Greater Chattanooga

Real Estate Transfers For July 2-8

Paula McDaniel Earns Internationally Recognized Designation For Performance In Luxury Real Estate


Hannah Muller has been named volunteer engagement manager of Habitat for Humanity. Ms. Muller relocated from Nashville where she served in a similar capacity. Officials said, "Her appointment ... (click for more)

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)

Paula McDaniel from Real Estate Partners Chattanooga LLC earned The Institute for Luxury Home Marketing’s Certified Luxury Home Marketing Specialist designation in recognition of experience, ... (click for more)



Real Estate

Hannah Muller Named Volunteer Engagement Manager Of Habitat For Humanity Of Greater Chattanooga

Hannah Muller has been named volunteer engagement manager of Habitat for Humanity. Ms. Muller relocated from Nashville where she served in a similar capacity. Officials said, "Her appointment comes at a time requiring an additional emphasis for the safety of volunteers as they support non-profit organizations." Habitat President and CEO David Butler noted that Ms. Muller ... (click for more)

Real Estate Transfers For July 2-8

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)

Breaking News

Rising Coronavirus Cases In Hamilton County Go Against Plan For Reopening All County Schools 5 Days A Week

With coronavirus cases increasing in Hamilton County, it is moving past the threshold the Hamilton County Schools set for reopening all schools five days a week. Officials said, " The most current data will determine which phase the district is in when we start school on Aug. 12 . The district will continue to track active case data provided by the Hamilton County Health Department ... (click for more)

Demand For Testing And COVID Numbers Rising In Hamilton County; County Has Highest Numbers, Hospitalizations Yet

Hamilton County health department administrator Becky Barnes on Tuesday reported a record-high 175 new COVID-19 cases in the county for a cumulative of 3,684. She said 1,408 of those cases are active. “We are seeing an increase in a demand for testing, but this is also an increase in positive cases. There has been a gradual increase in a demand for testing since early July, and ... (click for more)

Opinion

Warren Mackey: Why I Will Be Voting For County Commissioner Discretionary Spending - And Response

Because I am taking the lead on the County Commission in reinstating discretionary money, I take it that a Commissioner’s comments in the Chattanoogan.Com on July 13 where he asserts that giving discretionary money is a way of currying favor with voters in the next election was aimed at me. We haven’t had discretionary money for over five years now. In spite of not having the ... (click for more)

Roy Exum: No! To Selfishness

It was a ‘heavy lift’ some years ago when a “discretionary spending allowance” was lifted away from each of the nine Hamilton County commissioners. It was no more than a “vote for me” ruse in each district. One of the best examples of it is to walk into Orchard Knob Elementary and see this ornate stone bench at the entrance. The name of the commissioner who gave it to the school ... (click for more)