First-quarter house sales in the area increased 28.4 percent over the same period of last year. In the most recent quarter, 1,293 dwellings were sold as compared to 1,007 homes during the same period in 2009, according to the Chattanooga Association of Realtors. However, sales were down 15.7 percent from the 1,534 houses sold in the fourth quarter of 2009, a fact Randy Durham, president of CAR, attributes to poor weather in January and uncertainty about the economy.
“While I continue to believe that the worst of the recession is behind us, I continue to be concerned about unemployment and difficulties in the lending market,” Mr. Durham said. “To be sure, the signs are all there, but when you factor in a multiple set of variables, such as the current debate on national financial reform, and a growing uncertainty about taxes from every level — federal, state and local — it’s nearly impossible to feel a high degree of certainty about this year.”
Number of Sales
1. North Hamilton County — 122
2. Brainerd/East Brainerd — 112
3. Downtown Chattanooga — 92
4. North Chattanooga — 77
5. East Brainerd/Ooltewah — 56
Median Selling Price
1. Signal Mountain — $289,500
2. Lookout Mountain — $246,650
3. Ooltewah/Snow Hill — $204,950
4. Collegedale — $198,750
5. East Brainerd/Ooltewah — $185,950