The median price of homes sold this summer in Chattanooga fell by 6.5 percent from a year ago, the National Association of Realtors reported today.
The decline in prices in metropolitan Chattanooga was only about half as much as the 11.5 percent dip in the median price of homes sold across the entire United States, according to the Realtors report.
In the July-September period, the median price of a home sold in Chattanooga was $124,100, or $8,600 less than in the same period a year ago.
Nationwide, median home prices averaged $177,900 in the third quarter, or $22,500 less than a year ago, according to the National Association of Realtors.
Not a very reflective number, not a very useful one either as nothing concrete can be extrapolated.
The only way to make the number meaningful is to show all homes listed and what shift the Median listing prices came in at as well as looking at the individual homes to see if they were listed lower than they had been valued previously.
Just sayin....
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