Everything you see here is reliable but not guaranteed. Here's another report, this one for our neighbors to the north, Soddy Daisy. These numbers cover all of the 37379 ZIP code as reported to the Chattanooga MLS.
Soddy Daisy Real Estate Sales (All prices)
All active homes for sale: 212
Pending or contingent listings (under contract): 24
Residential listings closed (sold) during the past month: 18
Number of months to sell current actives at last month's sales pace: 11.8
Under $100,000
Active homes for sale: 30
Pending or contingent listings: 8
Residential listings closed last month: 7
Number of months to sell current actives at last month's sales pace: 4.3
$100,000-200,000
Active homes for sale: 94
Pending or contingent listings: 8
Residential listings closed during the last month: 5
Number of months to sell current actives at last month's sales pace: 18.8
$200,000-400,000
Active homes for sale: 46
Pending or contingent listings: 6
Residential listings closed during the last month: 5
Number of months to sell current actives at last month's sales pace: 9.2
Over $400,000
Homes for sale: 42
Pending or contingent listings: 2
Residential listings closed during the last month: 1
Number of months to sell current actives at last month's sales pace: 42
Ouch! What a difference a month makes. Last month's Soddy Daisy real estate report was looking pretty darn good. This month, it's looking pretty painful. The $100-200k range makes up the bulk of this market and it saw only 5 little bitty closings last month. Ironically, the $200-400k range is looking better than a lot of places. It had the same number of sales (5) as the lower price point, but with half the inventory. As with some of the other smaller areas that I do these reports on, you have to consider the fact that just a couple of sales up or down causes some pretty wild fluctuations in the absorption rate (# of months to sell current homes for sale at last month's pace) and I think that's really what we're seeing here. I'm just not sure if the anomaly was last month, or this one...
Click to see current Soddy Daisy homes for sale.
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