Day 30 : April 2010 home sales in the Greater Chattanooga Area MLS

by Jeff

Was it the tax credit deadline or is the market in recovery?

Chattanooga Area April 2010 Units Sold

Chattanooga Area April 2010 Houses Sold

The recently posted April figures show “LOCAL HOME SALES REACH 33-MONTH HIGH”

The Chattanooga Area real estate market posted a sales that have not been seen in for 3 years, in terms of number of homes sold according to numbers released by the Multiple Listing Service (MLS) of the Chattanooga Association of REALTORS®.  In the month ending April 2010, Southeast Tennessee and the Northwest Georgia area saw the sale of 611 residential units, a 5.9% increase compared to the previous month’s sales, and a 49% increase over the same period of 2009.

Chattanooga Area April 2010 Median Home Price

Chattanooga Area April 2010 Median Home Price

In the month of April, the local median home price was $125,000. This represents an increase of 4.6% from the previous month of March, and flat again when compared to April 2009. This performance of the local market shows that the Chattanooga Area is a good investment when compared to other mid size markets.

Chattanooga Area Avg Days On Market April 2010

Chattanooga Area Avg Days On Market April 2010

During the same period, April 2010 the average days on market for property dropped 5 days to and average of 135 most likely a direct result of the first time home buyer tax credit deadline of April 30.

Chattanooga Area Home Sales Year To Date April 2010

Chattanooga Area Home Sales Year To Date April 2010

The trend so far in 2010 mirrors seasonal expectation in a normal market and again April posted the highest sales in 3 years.

Foreclosures (scroll down for listings by area) are still a drag on the real estate recovery that will depend heavily on job creation in the local market. The very positive news is mortgage interest rates today are below 5% for 30 year fixed rate loans that enable the home buyer to purchase more house!

Hamilton County Home Sales by Area April 2010

Hamilton County Home Sales by Area April 2010

Here is a chart showing average home price by area with the number of homes sold!

Have You Heard?

Have You Heard?

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