published Wednesday, November 9th, 2011

Chattanooga home prices rise as sales rebound

Buoyed by a 15 percent jump in third quarter home sales this year, the median price of existing homes sold this summer rose more in Chattanooga than any Mid-South market, according to a report today from the National Association of Realtors.

The typical existing single-family home in metropolitan Chattanooga sold in the third quarter for $128,700, or $13,200 more than in the same period a year ago.

The gain in Chattanooga home prices came despite a nationwide decline of 4.7 percent in the past year.

The median price of homes sold in the third quarter of this year was still 24 percent below the U.S. average of $169,500 for existing single-family homes, NAR figures show.

In a separate report released today, the Greater Chattanooga Association of Realtors said area Realtors sold 1,623 residential units during July, August and September this year, up 15 percent from the same quarter in 2010.

about Dave Flessner...

Dave Flessner is the business editor for the Times Free Press. A journalist for 35 years, Dave has been business editor and projects editor for the Chattanooga Times Free Press, city editor for The Chattanooga Times, business and county reporter for the Chattanooga Times, correspondent for the Lansing State Journal and Ingham County News in Michigan, staff writer for the Hastings Daily Tribune in Nebraska, and news director for WCBN-FM in Michigan. Dave, a native ...

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purplelaw said...

This is good news indeed. Now maybe it will be worth trying to save a home that is in foreclosure When the market and values were down many people were upside down in their homes, and keeping the house was just not worth the effort.

November 9, 2011 at 11:45 p.m.
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