February 2010 MLS Stats
Posted in Chattanooga MLS Stats by Karen Rhodes on April 6th, 2010 In February of this year, Southeast Tennessee and the Northwest Georgia area saw the sale of 406 residential units, a gratifying 35.8% increase compared to the previous month’s sales, and a 19.1% increase in sales over the same period last year.
The current projections for residential mortgage interest rates have shown little change within the past few home sales reporting periods.
For the month of February, the local median home price was $121,750. That represents a decrease of 3.0% from the same period one year earlier and a slight gain of 1.9% from the median price reported the previous month. 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, February 2010 saw a small increase over figures from the same month in 2009, but down somewhat from the previous month of January of 2010. Those swings do not seem to portend anything more extraordinary than the variety of factors that comprise the overall operational vagaries of a recovering market system.
A review of the historical sales activities during the month of February over the past ten years shows a remarkable consistency, with the often stated sole exception of the “boom” years of the past mid-decade.
