Sunday, February 18, 2018 12:47 AM


Rising home prices The median price of homes sold in 2017 rose in most Mid-South markets more than the national average, although housing prices in the South remained below the U.S. median. * Nashville, $241,700, up 8.3 percent * Atlanta, $198,500, up 8.7 percent * Birmingham, Ala., $197,00, up 5.3 percent * Huntsville, Ala., $189,800, up 3.4 percent * Chattanooga, $176,100, up 7.2 percent * Knoxville, $175,900, up 6.3 percent * Memphis, $166,900, up 6.5 percent * U.S. average, $248,800, up 5.3 percent Source: National Association of Realtors Chattanooga home prices continued to rise faster than incomes last year and increased again in 2017 at a faster pace than the U.S. as a whole, according to the National Association of Realtors. The median price of single-family houses sold by local Realtors rose by $11,500 during 2017 to a record high of $176,100. But the typical home sold by a Chattanooga Realtor last year was still valued at nearly 30 percent less than the U.S. average price of $248,800 and was also cheaper than the median price in the nearby metro markets of Atlanta, Nashville, Birmingham, and Huntsville, Ala. In its year-end report for last year released last week, NAR's chief ...

News source: Times Free Press

See also: Grace Frank Group