I *just* got through writing up the Chattanooga real estate report for March 2012 and, quite frankly, I couldn’t get it posted fast enough because it was rather anti-climactic knowing what I already knew about April (it’s rather heartening). Note to self: finish last month’s report before this month is over.
Anyhoo, let’s get on to the good stuff. As always, the second number in the # of sales column is the quantity for the same month last year (i.e. April 2011), just to give some perspective.
| Area | # of Sales | Total $ Sales | Average Price | Median Price |
|---|---|---|---|---|
| Tiftonia, Lookout Valley & Elder Mountain Homes Sold | 9 (4) | $2,867,199 | $318,577 | $249,500 |
| Downtown, St. Elmo, Missionary Ridge, & Highland Park Homes Sold | 23 (30) | $1,674,311 | $72,796 | $49,000 |
| City of East Ridge Homes Sold | 28 (14) | $2,581,400 | $92,192 | $84,250 |
| Brainerd & East Brainerd Homes Sold (within the city limits) | 35 (24) | $4,920,397 | $140,582 | $125,000 |
| Hwy 58 area including Eastdale, Dalewood, & Tyner Homes Sold | 18 (16) | $2,056,400 | $114,244 | $81,000 |
| North Chattanooga Homes Sold, includes Mountain Creek, Riverview & Rivermont | 37 (33) | $10,468,232 | $282,925 | $212,000 |
| Red Bank Homes Sold | 8 (16) | $535,400 | $66,925 | $70,950 |
| Hixson Homes Sold (within city limits) | 22 (24) | $3,914,607 | $177,936 | $125,875 |
| Signal Mountain Homes Sold, including Walden & Suck Creek | 15 (19) | $4,403,200 | $293,546 | $292,000 |
| Lookout Mountain Homes Sold | 6 (4) | $2,441,140 | $406,856 | $262,070 |
| Harrison & Georgetown Homes Sold | 23 (17) | $5,801,050 | $252,219 | $127,500 |
| North Hamilton & Soddy Daisy Homes Sold, includes Middle Valley, Bakewell & Sale Creek | 51 (44) | $10,224,088 | $200,472 | $164,500 |
| Homes Sold between Volunteer Site & Hunter Rd | 7 (4) | $1,143,900 | $163,414 | $173,000 |
| East Brainerd (outside city limits) & Ooltewah Homes Sold | 31 (25) | $7,651,080 | $246,809 | $220,000 |
| Ooltewah, Snow Hill Area Homes Sold | 17 (15) | $4,410,800 | $259,458 | $194,900 |
| Collegedale & Apison Homes Sold | 10 (7) | $2,282,500 | $228,250 | $209,750 |
| Total $ales for April 2012 | $67,375,704 | Total $ales for April 2011 | $52,346,059 | +28.71% |
| Total # Sales for April 2012 | 340 | Total # Sales for April 2011 | 296 | +14.87% |
I would like to point out, with glee, the numbers found in those last two rows, the ones that indicate stratospheric jumps compared to 2011. I would also like to point out that the percentage increases in the two measurements are pretty much the reverse of what they were last month (i.e. the $ volume was up by about twice as much as the # volume – last month it was the opposite). The point of all this pointing is to say that this is unequivocally good news. Nothing bad about it.
To recap 2012 so far:
January – up 2% [interpretation: meh, statistically insignificant]
February – up 36% [interpretation: whoa! cautious optimism but that could just be something weird with some typical March sales being pulled in a little early]
March – up 9% [interpretation: hey! even though February was phenomenal, March didn't go into the crapper! Optimism cautiously confirmed]
April – up 29% [interpretation: holy @&$! Caution is hereby thrown to the wind where optimism is concerned]
May – sharp intake of breath while waiting to see the numbers…
Perhaps most importantly of all, for the first four months of 2012, we’re at total sales of about $217M compared to $183M for 2011. That’s a jump of more than 18%. Excuse me while I go out to dance my jig.
