One of the most common questions I hear as a Realtor is "How is Real Estate in Chattanooga?" This is an excellent question, since real estate is a LOCAL business that varies by market and even segments of a market. To answer that question today and going forward, I will publish portions of the press release of home sales from the Greater Chattanooga Association of Realtors.
- "December 22, 2010 - The local real estate market continued its year-end lackluster performance according to data released by the Multiple Listing Service (MLS) of the Greater Chattanooga Association of REALTORS®. In November of this year, Southeast Tennessee and the Northwest Georgia area saw the sale of 371 residential units, a 13.1% decrease compared to the previous month's sales, and a decline of 27.1% from the same period of last year." The article continues "Median price in the greater Chattanooga market declined 3.8% from the same period twelve months ago, and a saw a sharper drop of 8.6% from only a month before.
The news however is not all gloom for Chattanooga, as Year to Date sales are running 4.1% ahead of the same period for 2009.
So now you know, how are Real Estate Sales in Chattanooga!