Home sales climb from a year ago

Home sales climb from a year ago

June 23rd, 2010 by Ellis Smith in Business Around the Region

Chattanooga-area home sales crept upward to 628 in May, a 2.8 percent gain from 611 in April and a 29 percent rise from May 2009, according to data from the Chattanooga Association of Realtors.

CAR President Randy Durham said that despite some expectations that sales would take a dive following the expiration of the homebuyer's tax credit at the end of April, he is glad to see that not only did sales continue to climb, but that median prices rose in May as well.

Median home prices in May increased 4.4 percent to $140,500 from April of this year, and 2 percent from May 2009. Average days on market fell to 126 in May from 135 in April, and remained above the May 2009 level of 133 days on market.

Hottest areas for home sales

Number of sales

1. North Hamilton County - 54

2. Brainerd/East Brinerd - 53

3. Downtown - 44

4. North Chattanooga - 42

5. East Brainerd/Ooltewah - 33

Source: Chattanooga Association of Realtors

Median sales price:

1. Lookout Mountain - $430,000

2. Signal Mountain - $268,700

3. Collegedale/Apison - $235,735

4. Ooltewah/Snow Hill - $231,450

5. East Brainerd/Ooltewah - $210,000

Source: Chattanooga Association of Realtors