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
