Residential Real Estate Update for the week of May 30th

Residential Real Estate Update for the week of May 30th

As we get closer to the official calendar launch of summer, residential real estate is taking off. The market may seem slower than in past spring/summer sprints, but numbers are by no means dismal. Whether the buyer category is dominated by Millennial, Generation X or move-up buyers from previous generations is no matter; activity is happening.

In the Chattanooga region, for the week ending May 30th

• New Listings increased 17.6% to 280

• Pending Sales increased 9.8% to 201

• Inventory decreased 29.8% to 4,331

For The Month Of May

• Median Sales Price increased 3.2% to $153,500
• Days on Market decreased 13.6% to 70
• Percent of Original List Price Received increased 1.2% to 95.0% • Months Supply of Inventory decreased 39.8% to 5.9

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