Southside, MLK & Downtown Chattanooga Market Report for May 2010

The boundaries I'm using for this report are the river on the north and east, I-24 on the south & Central Avenue to the west.

All Downtown & Southside Chattanooga Real Estate Sales through the Chattanooga MLS

All active listings: 127

Pending or contingent listings (under contract): 10

Residential listings closed (sold) during the month: 10

Number of months to sell current actives at last month's sales pace: 12.7

Downtown & Southside Chattanooga Real Estate, Under $150,000

Active, residential listings: 10

Pending or contingent listings: 3

Residential listings closed last month: 3

Number of months to sell current actives at last month's sales pace: 3.3

Downtown & Southside Chattanooga Real Estate, $150,000-350,000

Active, residential listings: 79

Pending or contingent listings: 5

Residential listings closed during the last month: 6

Number of months to sell current actives at last month's sales pace: 13.2

Downtown & Southside Chattanooga Real Estate, $350,000-600,000

Active, residential listings: 24

Pending or contingent listings: 1

Residential listings closed during the last month: 0

Number of months to sell current actives at last month's sales pace: Infinity and beyond - I'm calling it, based on the pendings, about 24

Downtown & Southside Chattanooga Real Estate, $600,000+

Active, residential listings: 14

Pending or contingent listings: 1

Residential listings closed during the last month: 1

Number of months to sell current actives at last month's sales pace: 14

The chart below shows what is under contract now or sold in May

S=Status, either Contingent (AC), Pending (P) or Sold (S); TYP= Type of Home, either single family (RE), townhouse (TW) or condo (CO); DOM= Days on Market; Prices shown reflect list prices - not contract prices

This is a small, high-end inventory. Like North Chattanooga real estate, the nature of the sample size you're working with means that just a few extra sales in a month makes the picture look a whole lot rosier. Things are definitely looking up since my last downtown Chattanooga real estate report in December 2009

Think you might be interested in this up and coming area? Check out the downtown Chattanooga homes for sale right now.