Crye-Leike, REALTORS Chattanooga Sees Its Home Sales Spike In July

CHATTANOOGA, TN – Crye-Leike, REALTORS saw it’s sales volume spike in July 2009 – up 25% compared to the same period in 2008 based on Chattanooga MLS Data.  The data also shows an increase in the average sales price and Crye-Leike selling one out of every five houses in the region during the month of July.

 

“These numbers are proof that Chattanoogans are confident in the stability of our city,” said Rob Hatchett, Crye-Leike, REALTORS Regional Vice President.  “We have been feeling the market pick up over the past couple of months but having cold hard facts that the company experienced a spike in sales of 25% is a great feeling.”

 

Based on the MLS data from July 2009, Crye-Leike sold 228 homes with an average sales price of $160-thousand compared to selling just 193 during the same month in 2008 at an average price of $150-thousand.  The company’s total sales volume made a dramatic spike – moving up from $29-million in July 2008 to more than $36-million in July 2009. Hatchett points to several factors coming into play to explain the increase.

 

“The first time homebuyers tax credit deadline is looming so more first timers are making sure they get the free money,” said Hatchett.  “Secondly many buyers have been waiting for the market to bottom out before buying and with many reports saying the bottom has come buyers are ready to buy before prices start going back up.”

 

Several nationwide indexes have indicated many U.S. metropolitan areas experienced a spike in home sales during the month of July.  Hatchett is hopeful the news will bring further confidence to buyers and sellers to get off the sidelines and into the market to list a property or make a purchase.

 

“With the stock market gains in the past few months – coupled with what’s going on in the housing sector – confidence is slowing returning,” said Hatchett.  “What we’d love to see is more buyers and investors who are realizing gains in the equity and bond markets to put some of those gains back into real estate.”

 

For further information and analysis please contact Crye-Leike, REALTORS Regional Vice President Rob Hatchett directly by phone at 423-756-0771 and you can email him at rob.hatchett@crye-leike.com.

 

Harold Crye and Dick Leike established Crye-Leike, REALTORS in 1977.  Today, Crye-Leike?, the nations 6th largest real estate company, has a network of more than 3,000 licensed sales associates based out of more than 120 corporate and franchise offices located through-out the eight-state southern region of Tennessee, Alabama, Arkansas, Florida, Georgia, Kentucky, Mississippi and North Carolina.

 

Crye-Leike is a full-service real estate company offering buyers and sellers services in: residential sales, mortgage, title, insurance, business brokerage and investments, property management, development and construction, builder resources, REO bank-owned properties, relocation, auctions, and home services.  In 2008, Crye-Leike attained a sales volume in excess of $4.2 billion with 25,871 homes sold.