published Tuesday, April 23rd, 2013

Business Briefs: Local home sales rise in March

Local home sales rise in March

Chattanooga Realtors sold 593 residential properties last month, 8.4 percent more than a year ago.

The Greater Chattanooga Association of Realtors said Monday that the number of new properties listed with the local Realtors' multiple listing service grew by 5.2 percent in March. But the overall inventory of homes on the market was still down and prices remained stable with a median home price last month in Chattanooga of $130,000.

The typical home was on the market for 128 days, 4.5 percent fewer than a year ago.

Mark Blazek, president of the Chattanooga Realtors group, said the economy last month "inched forward."

CBL starts on Daytona eateries

CBL & Associates Properties Inc. has announced that construction has started on a restaurant district at Volusia Mall in Daytona Beach, Fla.

The 28,000-square-foot district will hold such eateries as Bahama Breeze, Olive Garden and IHOP. The grand openings are anticipated in late 2013.

"With its prime location across from the Daytona Speedway, the addition of these outstanding national restaurants is sure to be well received and satisfies a demand in the market for additional dining choices," said Stephen Lebovitz, chief executive of Chattanooga-based CBL.

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