Leaders with the Greater Chattanooga Association of Realtors released third-quarter data comparisons Thursday, and although the numbers show a decrease in home sales from the second quarter of this year, there has been an increase from the third quarter of 2011.
Chattanooga-area home sales in the third quarter of this year decreased by 2.4 percent compared to the second quarter of this year, officials said.
But data shows an “encouraging” 11.5 percent increase in home sales from last year’s third quarter.
The median price of homes has increased from 2011’s third quarter, and the average number of days on the market show a year-over-year decrease.
The number of foreclosures is also declining, officials said.
The latest available monthly data showed that area home sales increased in September, according to Nooga.com archives.
New listings in the area increased 11.7 percent to 877, and pending sales decreased 8.8 percent to 393 in September.
Inventory shrank by 11.7 percent to 4,920 units.
Median sales prices increased 1.5 percent to $139,000. And days on market dropped 14 percent to 123.