Chattanooga home sales rise last month despite nationwide drop

The number of homes for sale in the Chattanooga area has dropped 26 percent in the past year as sales have outpaced the inventory of homes on the market. The number of homes for sale in the Chattanooga area has dropped 26 percent in the past year as sales have outpaced the inventory of homes on the market.

By Staff and Wire Reports December 23, 2015 4 min read

Chattanooga home prices and sales edged higher again last month despite a drop in sales nationwide.

The Greater Chattanooga Association of Realtors said Tuesday that November home sales through its multiple listing service rose 2 percent from a year ago to 575 homes.

By the numbers

› 8,003: Number of homes sold in the first 11 months of 2015, up 11.2 percent from a year ago. › $176,432: Median sales price of homes sold last month in Chattanooga, up 5.3 percent from a year ago › $220,300: Median sales price of homs sold nationwide, up 6.3 percent from a year ago Sources: Greater Chattanooga Assocation of Realtors, National Association of Realtors

The median sales price of homes sold rose even more, climbing to $152,750 in the Chattanooga region.

Such gains are helping make 2015 the best year for home sales in Chattanooga since before the 2008-2010 recession with more than 8,000 homes sold already this year in Chattanooga.