Brian R Kelly

Tag: Hamilton County TN Real Estate Market

  • Top 5 Home Selling Neighborhoods Hamilton County TN 2013

    Top 5 Home Selling Neighborhoods in Hamilton County TN 2013
    Top 5 Home Selling Neighborhoods

    Top 5 Home Selling Neighborhoods Hamilton County TN 2013.  The time period of sales is first 8 months of 2013.  I am writing this September 4, 2013.   The top 5 in number of homes (no age or price involved) sold are as follows:

    1. Hamilton on Hunter  58  (25 of those are Hamilton on Hunter North)

    2. One North Shore  34  (this is a condominium complex)

    3. Black Creek  23

    4. Stonewall Farms  22

    5.  Windstone 20 (10 are Windstone at Whisper Creek)

     

    Bell Development has two of the Top 5 Home Selling Neighborhoods Hamilton County TN 2013

    The number one winner is Bell Development’s Hamilton on Hunter.  Hamilton on Hunter is located off Hunter Road in Ooltewah.  The neighborhood is 26 years old and covers roughly 640 acres.  The newer Hamilton on Hunter North is approximately 275 acres.  The 58 home sales in 2013 range from $75,000 – $241,500.  The price per square foot ranged from $44 – $120.  Hamilton on Hunter North is zoned for Wallace A. Smith Elementary School, Hunter Middle, and Central High School.  Hamilton on Hunter enjoys newer construction and proximity to jobs at Volkswagen and Amazon.

    The number two winner is a great story for Chattanooga.  It is a condominium complex.  There are 34 condo sales so far this year at One North Shore.  The 2013 sales saw a low of $149,500 and a high of $374,000.The average price per square foot is $217.  I shared a few insights in this former article about One North Shore.  I was really impressed with the level of services and amenities One North Shore offers its owners.  One North Shore enjoys location near downtown and it’s adjacent to parks, retail and grocery.

    The third place finisher is Black Creek Mountain.  Black Creek Mountain is a golf course community in Lookout Valley.  Lookout Valley is less than 10 minutes from downtown Chattanooga.  New homes are under construction as a new developer makes their way up Aetna Mountain.  The neighborhood is 13 years old and is home to Black Creek Golf.  Club house expansion, varied price points and styles, combined with location near downtown are all continued draws to this community.  The 2013 price range is from $114,000 condo to $655,000 single family home.

    Fourth place goes to Stonewall Farms.  Stonewall Farms is another Bell Development.  It is located in Hixson.  Stonewall Farms is a more traditional neighborhood with home prices from $179,900 to $334,000 for 2013 sales.   Stonewall Farms is 10 years old.  Half of the home sales in 2013 were new home sales.  New homes in Stonewall Farms are selling on average at $119 per square foot.

    Fifth place goes to Windstone.  Windstone is a golf course community located in Ooltewah. (Important Note: Windstone is also in Catoosa County, GA or Ringgold , GA.  If we included all of Windstone there would be 30 sales year to date.  But this story is about Hamilton County only).  I wrote this article about homes at Whisper Creek in Windstone.   The 2013 sales ranged in price from $200,000 to $422,000.  Newer construction in Whisper Creek is averaging $140 per square foot.

    In summary, all of the Top 5 Home Selling Neighborhoods Hamilton County TN 2013 enjoy a decent amount of newer construction.  There are new homes being built in 4 of them.  One North Shore is only 5 years old and it is enjoying growth of downtown living with a strong dose of amenities and an excellent marketing campaign.  Top 5 Home Selling Neighborhoods Hamilton County TN 2013 list was compiled using the Multiple Listing System (MLS of Chattanooga Association of Realtors).  Only Realtor assisted sales were considered in the data.

     

  • How is the Home Sales Market in Chattanooga TN for 2013?

    Home For SaleHow is the Home Sales Market in Chattanooga TN for 2013? How is the Chattanooga, TN housing market? Are homes selling? These are questions that a Realtor gets frequently. The answer is homes are selling in Hamilton County, TN. Especially homes selling for more than $200,000. The number of homes selling above $200,000 is up 24% over the 2012. The number of homes under $100,000 are selling less. This reflects a national trend. Another trend is that the re-finance market for home mortgages is slowing.

    It appears this is simply the wash of all the foreclosure activity of the last several years. The unwounded that have good credit have re-financed and/or making purchases. The wounded are renting and sitting on the sidelines.

    Let’s look at home sales above $200,000. The two areas that experienced the greatest increases (and that have decent numbers) are (Area 2 – Downtown, St. Elmo), and (Area 18 – Colledgedale). They combined brought 62 additional home sales (when comparing year to date January 1 – August 15, 2012 versus 2013). Popular neighborhoods in Area 2 include Missionary Ridge (8), Museum Bluffs (7), Jefferson Heights (6), and Waterhaven (7). The more popular spots in Colledgedale are a new subdivision Prairie Pass (14) and established Bentwood Cove (11).

    Soddy Daisy has been a popular area for years. Neighborhoods like Stonewall Farms have newer inventory and year to date has 21 sales in the neighborhood. Soddy Daisy is experiencing the overall market 22% increase. Other popular neighborhoods include Sedman Hills had 10 sales, Hidden Harbor had 7, The Canyons had 5.

    Ooltewah/Snow Hill area or MLS Area 17 reflected a stout 31% increase with the most popular subdivisions being McKenzie Farms (15 sales), Belleau Ridge (12), Meadow Stream (12), Seven Lakes (11), Hamilton on Hunter North (10), Hampton Cove (8), Hampton Creek (7).

    North Chattanooga and Mountain Creek (MLS area 6) continues to be strong but lags the average with 15% growth. The flagship of this area was One North Shore selling 22 homes above $200,000 so far this year. Other popular spots include Heritage Landing (10), The Enclave (9), Horse Creek Farms (9).

    Signal Mountain, North Chattanooga, Hixson, Catoosa County, Walker County, Bradley County, Brainerd, experienced decent growth in home sales above $200,000 in 2013. Lookout Valley, or (Tiftonia to many older locals) saw a dramatic percentage growth of 65% which reflects the marketing and new home construction of Black Creek Mountain. Black Creek Mountain, (plus former Cummings Cove) saw 20 home sales greater than $200,000.

    An area with large numbers of sales but no increase is East Brainerd County or MLS Area 16. There were 134 sales which is off pace from last year. The popular neighborhoods in this area include: Mountain Shadows (17 sales), Windstone Whisper Creek (10), Greenbriar Cove (9), Hidden Lakes (9), The Lakes At Standifer (7).

    The other variables such as time on the market varies from 127 days on Signal Mountain to 330 days Downtown. The average price per foot of the sales above $200,000 was $91 in Catoosa County, GA and $158 in North Chattanooga (Mostly condo sales).

    New construction seems to be selling from $100 to $155 per foot depending on amenities and price range.

    Overall, the home market above $200,000 in the region seems to favor three things. The 3 are younger age homes (rebirth of new construction), close to downtown Chattanooga, and close to job growth. The job growth is Volkswagen, and Amazon affecting Ooltewah and Colledgedale and Wacker in Bradley county.

    How is the Chattanooga, TN real estate market? Are homes selling? Yes, they are. Especially if you want to buy or sell a home valued above $200,000!