March Housing Market Statistics

Wednesday, April 17, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
Nationally, increasing housing prices and housing affordability remained a concern in many markets, but locally sales prices and inventory levels remained steady. One big takeaway from March is the sharp increase in people listing their property for sale.

New Listings in the Chattanooga region increased 8.2 percent to 1,282. Pending Sales were up 8 percent to 1,084. Inventory levels shrank 1.1 percent to 2,501 units. Prices were fairly stable. The Median Sales Price increased 0.7 percent to $190,000.
Days on Market remained flat at 54 days. Sellers were encouraged as Months Supply of Inventory was down 3.2 percent to 3 months.

The Federal Reserve recently announced that no further interest rate hikes are planned for 2019. Given the fact that the federal funds rate has increased nine times over the past three years, this was welcome news for U.S. consumers, which carry an approximate average of $6,000 in revolving credit card debt per household. Fed actions also tend to affect mortgage rates, so the pause in rate hikes was also welcome news to the residential real estate industry.

All of these factors are looking to make a hot spring buying and selling season. To prepare for this flurry of activity, the Greater Chattanooga Realtors will be hosting our annual Open House Weekend on April 27-28. This event will feature more than 100 Realtor-hosted Open Houses throughout southeast Tennessee and northwest Georgia. Potential buyers who visit open houses this weekend can register for a chance to win one of five $150 gift cards. Get details and preview scheduled open houses at www.gcar.net.

Chattanooga Neighborhood Enterprise Hosts Ice Cream Social

Real Estate Transfers For July 31-Aug. 7

Kim Bass: Federal Interest Rates Cut Will Have Little Effect On Housing


Chattanooga Neighborhood Enterprise will be hosting a free Homebuyer Ice Cream Social on Tuesday, Aug. 27 from 5-7 p.m. at The Camp House on MLK. The Homebuyer Ice Cream Social will be an opportunity ... (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)

The Federal Reserve on Wednesday cut interest rates for the first time since the Great Recession of 2008, but the National Association of Realtors® don’t think it will have a huge impact on residential ... (click for more)


Real Estate

Chattanooga Neighborhood Enterprise Hosts Ice Cream Social

Chattanooga Neighborhood Enterprise will be hosting a free Homebuyer Ice Cream Social on Tuesday, Aug. 27 from 5-7 p.m. at The Camp House on MLK. The Homebuyer Ice Cream Social will be an opportunity for those interested in buying their own home to ask questions and have discussion with CNE’s Mortgage Advisor and Homebuyer Counselors while enjoying a sweet treat. "The social ... (click for more)

Real Estate Transfers For July 31-Aug. 7

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

Thurman Says Administration Should Have Vetted "White Privilege" Presentation; Jones Says Talk Was "About The Life We Live"

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Man, 44, Stabbed To Death On East Main Street

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Opinion

Conversation On White Privilege Is Long Overdue - And Response

This opinion is being submitted in response to the many individuals who have communicated with me regarding the term white privilege. This term was included in a presentation by motivational speaker Robert Jackson at the professional development conference for teachers held Aug. 2 and has surprisingly stimulated significant controversy. First, let me commend Superintendent Bryan ... (click for more)

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