Inman News,
in a report released yesterday, highlights 10 metro areas that
data suggest are set to outshine many other markets in real estate
performance this year.
The markets, which stretch from New York to Texas and include metros
with populations above 150,000, were selected and ranked based on a
range of demographic, economic and real estate market data, including
real estate sales volume and median sales price appreciation.
And look who made the list!
Located between Nashville, Tenn., and Atlanta, the Chattanooga metro
area enjoys a low unemployment rate, high affordability, and the
highest rate of out-of-state in-migration among the 10 markets.
The area's median sales price rose 7.3 percent between in the year
through third-quarter 2011, to $128,700. The vast majority of homes in
the area, 81.3 percent, were affordable to median-income households
during that quarter.
"One of Chattanooga's largest resident communities, (which)
historically had enjoyed 3 to 3.7 percent on an average differential
between list and sales price ... increased (to a) 4 to 4.9 percent
differential from 2010 to 2011," said Linda Brock, an affiliate broker
at Prudential RealtyCenter.com in Chattanooga.
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