published Saturday, May 21st, 2011

Chattanooga-area home sales drop

• Market results: Chattanooga Realtors sold 484 single-family houses in April and 1,802 homes during the first four months of the year.

• Sales trend: Residential sales were down 4.9 percent from March and 21.9 percent below a year ago.

• Median prices: The median price, or midpoint of all sales prices, was $119,500 in April in the Chattanooga area, down 4.4 percent from a year ago.

• Average sales time: The typical home sold in April was on the market 136 days, up from 134 days a year ago.

• Foreclosure impact: Last month, 151 houses, or 31.2 percent of all Realtor sales, involved foreclosed properties.

• Why the change: Last year’s sales were inflated by homebuyer tax credits, which expired in mid-2010. “We knew at the time that the credit was boosting our sales figures, and now we’re able to quantify just how much,” Chattanooga Association of Realtors President Jennifer Grayson said.

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NoMyth said...

"Average sales time" is a meaningless statistic intended to purposefully deceive homebuying consumers. This 'stat' tells no one anything meaningful because it ignores all of the homes that have been on the market for eons and have not sold....it is only the days on the market for houses that sold! It's ridiculous propaganda from realtors...they are as bad as Enron and Madoff.

May 21, 2011 at 1:08 a.m.
frankcarter319 said...

After what seemed like a lifetime of thirty-Year adjustable-rate mortgages, with monthly mortgage payments going up all the time, The "Mortgage Refinance 123" helped me to lock in a great low fixed rate of 3.16%, helping me to guarantee myself the ability to always make my mortgage payment on time with money to spare.

May 21, 2011 at 2:11 a.m.
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