CHATTANOOGA, TN – February 11, 2010 – The local real estate market continues on its “road
to recovery”, according to data released by the Multiple Listing Service (MLS) of the
Chattanooga Association of REALTORS®. In the fourth three month period of the year just
ended, the Southeast Tennessee and Northwest Georgia area saw the sale of 1,527 residential
units, a 19.8% increase over the same quarter’s sales in 2008, but a drop of 6.5% over the July
through September sales of 2009. However REALTORS® are not greatly troubled by that
aspect, since the summer months are among the strongest sales periods for buyers.
Median price figures for the period witnessed a decrease to $128,500 – a drop of 4.8% from the
4th Quarter of 2008 and a statistically negligible decline of 1.2% from the previous quarter. While
a positive sign, in terms of affordability, the price drop is often interpreted by some authorities as
a sign of a continuing sluggish economic outlook. However, the index indicating the number of
days on the market has remained remarkably consistent – from 120 a year ago to 120 in the 4th
Quarter of 2009 – and only 5 days less than the 3rd Quarter. Ricky Haynes, Remax Properties. Homes for sale Chattanooga, TN. 423-635-7304