This one is for Gerald (Hi, Gerald! who knew someone was actually enjoying reading my market reports?) and covers all of Hamilton County, not just homes for sale in Chattanooga. Everything you see here is reliable but not guaranteed. I figure all these myself and I am, after all, only human.
All Hamilton County Residential Real Estate Sales through the Chattanooga MLS
All active listings as of 5/1/10: 2825
Pending or contingent listings (under contract) as of 5/1/10: 711 (!)
Residential listings closed (sold) during April 2010: 336
Number of months to sell current actives at last month’s sales pace: 8.4
Hamilton County, under $100,000
Active, residential listings: 581
Pending or contingent listings: 192
Residential listings closed during April 2010: 79
Number of months to sell current actives at last month’s sales pace: 7.4
Hamilton County, $100,000-200,000
Active, residential listings: 1038
Pending or contingent listings: 315
Residential listings closed during April 2010: 169
Number of months to sell current actives at last month’s sales pace: 6.1
Hamilton County, $200,000-400,000
Active, residential listings: 791
Pending or contingent listings: 167
Residential listings closed during April 2010: 71
Number of months to sell current actives at last month’s sales pace: 11.1
Hamilton County, over $400,000
Active, residential listings: 415
Pending or contingent listings: 37
Residential listings closed during April 2010: 17
Number of months to sell current actives at last month’s sales pace: 24.4
So, what random conclusions am I going to draw this month? I feel quite certain that a lot of the activity we saw was directly related to the looming expiration of the tax credit. All those fence sitters hopefully saw the writing on the wall and realized they needed to step up to the plate (I just love a good metaphor mash-up). That resulted in a significant increase in pending sales that can’t be explained by selling season alone. I fully expect to see a big drop in pending sales after the end of June. Cross your fingers that I’m wrong!
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