Chattanooga MLS Market Trend March 2014

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Information about Chattanooga MLS Market Trend March 2014
Real Estate

Published on April 23, 2014

Author: marketingrmx



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MEDIAN SALES PRICE CHATTANOOGA MLS The Median Price for all homes sold in March was $134,950, which is 6% lower than the median price in February and 4% higher than the price in March 2013. MARCH 2014 MARCH 2013 $134,950 $130,000 4% MARCH 2014 $134,950 $115,000 $120,000 $125,000 $130,000 $135,000 $140,000 $145,000 $150,000 $155,000

CLOSED TRANSACTIONS CHATTANOOGA MLS The Market Trend Report for March showed a 36% increase in the number of Closed Transactions over February and a 6% decrease over sales in March 2013. 572 607 6% MARCH 2014 MARCH 2013 MARCH 2014 572 0 100 200 300 400 500 600 700 800

DAYS ON THE MARKET CHATTANOOGA MLS The average Days on the Market for all homes sold in March was 140. This is 5 days less than the average in February and 1 day more than the average in March 2013. 1% 140 139 MARCH 2014 MARCH 2013 MARCH 2014 140 0 20 40 60 80 100 120 140 160

MONTHS SUPPLY OF INVENTORY CHATTANOOGA MLS The number of Months Supply of Inventory at the end of March was 6.5 which is a 13% decrease over February and an 8% decrease from March 2013. 6.5 7.1 8% MARCH 2014 MARCH 2013 MARCH 2014 6.5 0.0 2.0 4.0 6.0 8.0 10.0 12.0

Description The Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local Chattanooga Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report. Definitions Median Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).

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