October Produces A Strong Month Of Home Sales

Wednesday, November 21, 2012

Home sales increased in the Greater Chattanooga area, according to information released by the Multiple Listing Service of the Greater Chattanooga Association of Realtors.

Officials said, "It's been a giant year for the housing market, as we round out the remaining two months of the 2012. Most markets shed listings, resulting from strong sales and lessened seller activity." 

Closed sales for the month of October increased by 31.3% finishing at 562 homes sold. New listings coming to market in the Chattanooga region were up 17.8 percent to 892 for the month compared to the same period last year. However, overall inventory available for sale shrank 10.4 percent to 4,814 units. 

There has been a general easing of foreclosures and short sales, meaning distressed listings are dragging prices down less right now than in recent years. Prices turned higher as the Median Sales Price was up 12.3 percent to $144,601. Days on Market decreased 6.9 percent to 121 days. Months Supply of Inventory was down 21.2 percent to 8.9 months, indicating that demand increased relative to supply. 

GCAR President Mark Hite said, “The economy is growing, but not at the pace most of us desire and economic growth in 2013 is expected to outpace 2012 which is positive if it this prediction becomes a reality mortgage rates are expected to remain near historic lows through 2015, rents are expected to rise due to low vacancy.”

Real Estate Transfers For Oct. 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) ... (click for more)

Habitat For Humanity Of Greater Chattanooga Area Launches New Volunteer Initiative

Habitat for Humanity of Greater Chattanooga Area rely solely on volunteers to help them build decent, energy efficient, and affordable homes for working families enrolled in the nonprofit’s homeownership program, officials said. On any given weekend, one may find civic, corporate, student, or church groups volunteering on the Habitat for Humanity’s work sites. The most popular day ... (click for more)

1 Shot And Killed In St. Elmo; 2nd Person Taken To Hospital

One person was shot and killed in St. Elmo. Another person was taken to the hospital. The person transported was driving a Lincoln that was behind the church off of Virginia Avenue. A possible suspect was in the Lincoln. Neighbors said that car stayed where the crime scene is. More information to follow. (click for more)

6 People, Including 4 Children, Die In Mobile Home Fire In Trion, Ga.

Six people, including four children, died in a mobile home fire at Trion, Ga., on Sunday night. The fire broke out on Airport Road in Chattooga County. Sheriff Mark Schrader said, "It is with a heavy heart tonight that I report that a residential fire has claimed the lives of six people, two adults and four children. The fire occurred around 11:00 p.m. in the Airport subdivision, ... (click for more)

Where Is The Speed Control On Our Highways? - And Response (3)

I am teaching my 15-year-old to drive in the North Georgia and Chattanooga area. I have warned her of the dangers of exceeding the speed limit both as a hazard to herself and in terms of receiving a ticket. What a liar I am.  Have you driven on the local freeways and highways recently? I never see any highway patrolmen helping to reduce speeding or pulling over those who ... (click for more)

Roy Exum: The Testerman Forum

I badly misjudged how long it would take me to do my “early voting.” I was in-and-out in no time so I got to the Hamilton County School Board’s agenda meeting well enough beforehand to have an “educational forum” with board member David Testerman. If you haven’t noticed, forums and summits and “community enlightenment” groups are the new rage and, as my friend David laughed, “They ... (click for more)