Home Sales Rise, Prices Drop in Chattanooga Area

There was an interesting chart in the Chattanooga Times Free Press Business section this morning regarding Chattanooga home sales and prices from January and February.

According to the Chattanooga Association of Realtors , home sales rose by 38 homes in February, up 12.4% from January.  While the number of homes sold rose to 344 homes, the median prices of those homes sold declined by 2.7 percent, from $129,300 to $125,750.

Whether you are an optimist or pessimist, these numbers could be good or bad.  I personally think it’s good that home inventory is being sold.  A 2.7 percent decline in price is significant, but not drastic.  If prices can begin to level out while sales rise around 12 percent per month, the Chattanooga housing market could be well on its way to recovery!

For more information, visit the Chattanooga Association of Realtors.