Kim Bass: April Housing Market Statistics

Wednesday, May 15, 2019 - by Kim Bass, president, Greater Chattanooga Realtors
The warm weather is here, and homebuyers are returning in force this spring. For well-priced homes in desirable locations, the competition can be fierce. For much of the country, the first quarter of 2019 experienced less foot traffic, which impacted potential home sales. In some areas of the country low affordability, higher prices, and lower inventory situation contributed to slower sales across real estate markets. 

Locally, New Listings in the Chattanooga region increased 18.4 percent to 1,428.
Pending Sales were up 13.8 percent to 1,072. Inventory levels grew 3.0 percent to 2,648 units. Prices continued to gain traction. The Median Sales Price increased 11.5 percent to $199,000. Days on Market was down 10.5 percent to 51 days.

Absorption rates were even with last year as Months Supply of Inventory remained flat at 3.1 months.
The national unemployment rate dropped to 3.6 percent during April 2019, the lowest level since 1969. A historically low unemployment rate can provide reassurance to wary consumers. But for sales to increase on a grand scale, buyers will need more spending power, or sellers will need to reduce
prices to land where buyers are most active. Neither situation is likely to occur in 2019, yet inventory is straining to keep pace in the most competitive price ranges.


Real Estate Transfers For May 14-20

CIVIQ: Creative Resiliency During COVID-19

ReStores Now Back Open


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)

Chattanooga Design Studio announces its next 2020 installment of CIVIQ: A Speaker Series Honoring Robert Taylor. CIVIQ is a free quarterly speaker series that showcases visionary practitioners ... (click for more)

Habitat’s ReStores opened their doors Tuesday to shoppers. Both stores will be open from 9 a.m.-5 p.m. Tuesdays through Fridays and from 9 a.m.-4 p.m. on Saturdays. Social distancing markers ... (click for more)



Real Estate

Real Estate Transfers For May 14-20

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)

CIVIQ: Creative Resiliency During COVID-19

Chattanooga Design Studio announces its next 2020 installment of CIVIQ: A Speaker Series Honoring Robert Taylor. CIVIQ is a free quarterly speaker series that showcases visionary practitioners in other cities to connect the Chattanooga community with national and international trends in urban design. COVID-19 has changed the way we interact, socialize, and learn from each other ... (click for more)

Breaking News

Hamilton County Adds Another 54 Coronavirus Cases; Tennessee Has 2 More Deaths

Hamilton County has added another 54 coronavirus cases, moving the total to 694, the local Health Department reported on Memorial Day. The county remains at 14 deaths. There have been seven confirmed cases at the Waddington North America Novolex plant on Quintus Loop in the Jersey Pike area. The plant, which had already planned to close for the Memorial Day weekend, conducted ... (click for more)

Summer Meal Locations At Schools To Open Tuesday

Summer meal pickup sites available at Hamilton County Schools will start food service on Tuesday. These sites will be open on Tuesdays and Friday each week from 11 a.m.-1 p.m. Each Tuesday, families will be able to pick up three meals for each person at the sites. On Friday, families will receive four meals for each person in the family. The sites will continue to follow CDC ... (click for more)

Opinion

Memorial Day Remembrance 2020

Perhaps the terrible toll that has engulfed the greater world community due to the black wave known as COVID 19 brings about an urgent sense of reflection and recollection on the true meaning of Memorial Day. One of the earliest commentaries was provided by Frederick Douglass at Arlington National Cemetery on Decoration Day 1871. He would extol to the crowd to never forget ... (click for more)

Roy Exum: For Grins & Giggles

We know from many previous experiences that “An Idle Mind Is The Devil’s Workshop.” We also know that not one person in our nation could have been better prepared than our leaders from both parties in this COVID-19 pandemic. Guffaw and cackle all you want but I promise not a person in our state would pick you over Governor Bill Lee. It is terribly disappointing that every day somebody ... (click for more)