According to statistics available from the Chattanooga Association of Realtors, year-to-date sales of homes declined from 2006, a record-breaking year, but still beat 2005, the record year until 2006. Thus, despite the decline, 2007 is on track to be have the second highest unit volume in history. The 2007 median home price, year-to-date, is $140,000, up $2,500 from 2006 and up $10,000 from 2005. Owners are having to wait a little more than a week longer to get that increased price. The average "Days on Market" figure went up to 113, just 8 days over the 2006 number of 105, which was 7 days over the 2005 number of 98.
Opinion: The Parties agree that the market is leveling, and that means the market is softening some, but the local media hype every negative number possible in wannabe fashion to join their major market and national market counterparts in "us, too" reporting of gloom and doom. Better, balanced analysis of the numbers is possible. Local media should aspire to it.
Year - Volume through July - Median Price - Days on Market - Sale/List %
2005 4,440 $130,000 98 97.29%
2006 4,930 $137,250 105 97.38%
2007 4,535 $140,000 113 97.04%
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