Brandi Pearl Thomspon: January Housing Market Statistics

Wednesday, February 12, 2020 - by Brandi Pearl Thompson, president, Greater Chattanooga Realtors

We started off the year with continued low interest rates, low unemployment, and rising rents across the country. These factors should encourage healthy buyer demand and sets us up for a strong start to the 2020 housing market and a lot of optimism for the coming spring market.

For the rest of 2020, The National Association of Realtors Chief Economist Lawrence Yun sees good news for home prices. “National median home price growth is in no danger of falling due to inventory shortages and will rise by 4 percent,” Mr. Yun predicts. He is also expecting the new-home construction market sales to increase 10 percent. Mr. Yun and others would like to see home builders bring more affordable units to market to help ease shortages and slow price gains in that segment.

In Chattanooga, New Listings decreased 5.6 percent to 1,022. Pending Sales were up 19.5 percent to 890. Inventory levels shrank 21.0 percent to 2,257 units.

Prices continued to gain traction. The Median Sales Price increased 13.9 percent to $205,000. Days on Market was down 8.1 percent to 57 days. Sellers were encouraged as Months Supply of Inventory was down 29.4 percent to 2.4 months.

It’s worth noting that Closed Sales (number of homes sold) in January 2020 was 26.7 percent more than January 2019. That’s a difference between 555 and 703 homes. The weather might be cool (depending on Tennessee weather), but the housing market certainly is not.

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.


Brandi Pearl Thompson: Having A Plan In A Fast Market

Real Estate Transfers For Feb. 13-19

Brandi Pearl Thompson: Advocates For Our Community


Wow! It seems to me and my fellowrRealtors that the spring selling and buying season has started earlier than usual this year! With a historically low housing inventory, it’s more important than ... (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)

As a realtor, my job isn’t just putting “For Sale” and “Sold” signs in the ground. You might be surprised to know that as the 2020 president of Greater Chattanooga Realtors, much of my time is ... (click for more)




Real Estate

Brandi Pearl Thompson: Having A Plan In A Fast Market

Wow! It seems to me and my fellowrRealtors that the spring selling and buying season has started earlier than usual this year! With a historically low housing inventory, it’s more important than ever to have all your ducks in a row when it comes to buying or selling property. Here are a few thoughts if you’re looking at buying a home that will help you stay competitive and achieve ... (click for more)

Real Estate Transfers For Feb. 13-19

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)

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