St Elmo, located at the foot of Lookout Mountain and listed on the National Register of Historic Places, was founded in 1878. Although the neighborhood is celebrated nationwide for its historic homes, it is also extremely popular for its convenient location, stellar investment growth, and friendly, front-porch culture.
Most of the historic St Elmo homes built before 1915 are in the Victorian style. After that date, Carpenter Goth, Queen Anne, and Italianate styles became more frequent. Common architectural details include ornate mantels, tiled hearths, handsome pediments, heart pine floors, broad moldings, and tall ceilings.
Many contractors choose to renovate and sell historic St Elmo homes because of the reliable investment growth. Although St. Elmo was affected by the recession, crashing from 47 homes sold in 2006 to 27 in 2011 and dropping in average home values by almost 16%, it has recovered quickly. Home values are now greater than their pre-recession levels, up by 9%, while average days on market is 71, lower than in 2006 and much lower than this year’s Chattanooga area average at 131. This is a fast moving market that has emerged from the recession stronger than it was previously and trending towards growth and appreciation.
Historic St Elmo homes are also popular for their location within a vibrant community. CAHSE (Community Association of Historic St Elmo) is active in community improvement efforts such as neighborhood events like the annual Chili-con-CAHSE-o, applying for grants to beautify the area, hosting a yearly community-wide yard sale, and supporting its businesses. Many St Elmo residents volunteer at Calvin Donaldson Elementary and other schools. 100 volunteers gathered in 2007 and built a neighborhood playground right off of St Elmo avenue. There’s even a yearly Corgi parade in St Elmo’s commercial district.
For many, living in a historic St Elmo home is a way of life. It constitutes a commitment to preserving the beautiful, of engaging your community and serving it, of contributing to the welfare of Chattanooga, and of fostering a peaceful and serene place. It’s no wonder that historic St. Elmo homes stay on the market so briefly. Contact us if you’d like to learn more about this great community!
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