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Ooltewah Real Estate Market for December 2009

By
Real Estate Agent with Select Realty Professionals

These stats are pulled from the 37363 ZIP code. Click here to see what was goin' on last month.

All Ooltewah Residential Real Estate Sales through the Chattanooga MLS

All active listings as of 1/4/10: 330

Pending or contingent listings (under contract) as of 1/4/10: 58

Residential listings closed (sold) during December 2009: 39

Number of months to sell current actives at December's sales pace: 8.5

Under $200,000

Active, residential listings: 91

Pending or contingent listings: 29

Residential listings closed during December 2009: 16

Number of months to sell current actives at December's sales pace: 5.7

$200,000-400,000

Active, residential listings: 186

Pending or contingent listings: 24

Residential listings closed during December 2009: 20

Number of months to sell current actives at November's sales pace: 9.3

Over $400,000

Active, residential listings: 54

Pending or contingent listings: 5

Residential listings closed during December 2009: 3

Number of months to sell current actives at December's sales pace: 18

What does all of this mean? Not any big changes since last month's report which is actually pretty good news. I was expecting a drop off given the expiration of the first time buyer credit, not to mention the typical seasonal slow down. Even though the credit ended up being extended, lots of sales were being pushed through for the end of November supposedly leaving the 'pipeline' empty for December. Doesn't seem to have happened.

So I'll say exactly what I said last month: If you have a home to sell in Ooltewah for under $200k there's not much reason to wait around for the market to pick up. Even in the $200-400k range, there's still only an 9 month supply (not completely optimum for definitely within reason). The upper end of the real estate market fares better in Ooltewah than in the rest of Hamilton County with only an 18 month supply compared to 28.5 for Hamilton County as a whole. If you've got a lower to mid level home to sell in Ooltewah and want to move up to a bigger house nearby...get your selling shoes on. If you've lived in your house for 5 of the last 8 years you might even qualify for the new $6,500 tax credit.

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Julia Odom enjoys long walks on the beach, debating the renovation vs. restoration question and hanging out with home inspectors.

Visit Chattanooga Real Estate News to search homes for sale or view the rest of her blog

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