Chattanooga MLS Oct 2009 Stats
Posted in Chattanooga MLS Stats by Karen Rhodes on December 7th, 2009 November 23 , 2009 – The local real estate market recovered ground, with a modest uptick in October in both number of homes sold and median price, according to data released by the Multiple Listing Service (MLS) of the Chattanooga Association of REALTORS®. In October of this year, Southeast Tennessee and the Northwest Georgia area saw the sale of 533 residential units, a 4.1% increase compared to the previous month’s sales, and a 7.9% growth over the same period in 2008.
For the month of October, the local median home price was $127,000. That represents a decrease of 9.3% from the same period one year earlier and a small decrease of 2.2% from the median price reported the previous month. However, it continues to represent a continuing trend of real affordability, and the adjusted median price remains one of the more attractive for U.S. regions of this size.
In terms of the number of average days on the local market, October 2009 saw a negligible increase over figures from the same month in 2008, and a pronounced drop from the previous month of September, 2009. Many economists attribute this pattern to a continuingly slow easing of pressures in the financial markets, returning to their previous averages and are now confident of more consistency over the next few quarters.
Year to date number of homes sold and a three year comparison:
