March 25, 2023 at 12:00 p.m. | Updated March 25, 2023 at 1:28 p.m.
by Dave Flessner
Buoyed by two of the biggest residential sales ever in Chattanooga last year, Realtor Jay Robinson and his team were once again the top-selling real estate group in Chattanooga during 2022.
Robinson, who has sold more than $1.5 billion of residential and commercial properties across more than 35 years in the industry, was the agent in 277 residential property sales or purchases last year. The total value of the home sales last year reached nearly $191 million, or an average of $688,888.
Other top agents with more than $100 million of home sales last year included the teams of Grace Edrington at Berkshire Hathaway HomeServices, Jake Kellerhals of Keller Williams Realty and Mark Hite of Real Estate Partners. The top-selling individual agent again last year was Linda Brock of Real Estate Partners.
“The first part of the year was driven by the mania in the market and low interest rates,” Robinson said in a telephone interview. “The second half of 2022 was driven by continued low inventory but also the stability of the Chattanooga market. We’re very blessed to be in such a stable Southern market.”
Overall, the 11,564 completed home sales by Chattanooga Realtors last year was down 10.2% from the record high reached in 2021, according to figures compiled by the Greater Chattanooga Association of Realtors. But the median price of the homes that sold last year in the Chattanooga area was up a stronger 15.1% to a record high of $305,000, boosting overall sales volumes for residential sales to a record high in 2022.
Robinson’s sales volume for all of 2022 also reached a new record high, up nearly 13% from the previous record high of $169.2 million of home sales in 2021. Combined with non-residential property sales, Robinson’s team topped $200 million in total sales in 2022.
The 59-year-old Realtor, who heads the Robinson team for Keller Williams Realty in Chattanooga, recorded two of the three highest-priced home sales ever in Chattanooga last year when he twice sold a home atop Elder Mountain. Robinson initially sold the mansion built on Elder Mountain by the late Sharon Mills for $4.6 million in May and later sold the same house to another buyer for $4.9 million.
The only other bigger home sale in 2022 came in Lookout Valley off of Browns Ferry Road, where a Montana investor bought a riverfront home in October that was previously owned by David and Kim Duplissey for $8.7 million.
“That particular home is truly a piece of art that required a buyer who would appreciate the beauty and intricate design of the house as well as the surrounding grounds and gardens,” Robinson said. “We were committed to finding the right family for the property who would appreciate the story behind the design.”
Robinson sold the property in 13 days for 98% of the list price. Another example of Robinson’s expertise was in the sale of another luxury property on East Brow Road that sold in one day for 100% of the asking price.
Robinson said his success comes in part from generational transactions among his clients, noting he often represents third and even fourth generations of clients.
While higher mortgage rates are cooling the real estate market, Robinson said he remains optimistic about Chattanooga.
“People continue to discover our city and all of the amenities that make this such a special place,” he said. “For someone like me, the Chattanooga experience sells itself and frankly, there’s just no other place I’d choose to raise my family and encourage others to do the same.”
Chattanooga’s top real estate agents
The real estate agents in Chattanooga who represented either the home buyer or the home seller with the highest total dollar value of residential property sales in 2022 were:
1. Jay Robinson of Keller Williams, 277 sides for a total of $190.8 million in home sales.
2. Grace Edrington of Berkshire Hathaway HomeServices for J Douglas Properties, 448 sides for a total of $155.9 million in home sales.
3. Jake Kellerhals of Keller Williams Realty, 356 sides for a total of $139.6 million in home sales.
4. Linda Brock of Real Estate Partners, 138.5 sides for a total of $122 million in home sales.
5. Mark Hite of Real Estate Partners, 444 sides for a total of $116.9 million in home sales.
Source: Greater Chattanooga Association of Realtors multiple listing service
Contact Dave Flessner at email@example.com or 423-757-6340.
Copyright © 2023, Chattanooga Times Free Press, Inc.
All rights reserved.
This document may not be reprinted without the express written permission of Chattanooga Times Free Press, Inc.
Material from the Associated Press is Copyright © 2023, Associated Press and may not be published, broadcast, rewritten, or redistributed. Associated Press text, photo, graphic, audio and/or video material shall not be published, broadcast, rewritten for broadcast or publication or redistributed directly or indirectly in any medium. Neither these AP materials nor any portion thereof may be stored in a computer except for personal and noncommercial use. The AP will not be held liable for any delays, inaccuracies, errors or omissions therefrom or in the transmission or delivery of all or any part thereof or for any damages arising from any of the foregoing. All rights reserved.