The February 2008 sales report for Knoxville area homes sold is now available here.

It shows the volume is down a little with 158 fewer Knoxville & Farragut homes & condos sold in February of 2008 compared to the same time period in 2007.

However with interest rate remaining in the sub 6% range it is still an excellent time to buy a home.

Knoxville sellers and builders of new homes are offering incentives to attract and influence buyers to buy their home over competing ones.

Some of the incentives I’ve seen were $5,000 towards closings costs on several new home subdivisions, home warranties, sellers offering upgrades and replacement allowances, and other creative methods to attract a buyer.

Although the volume is down the median price is up a few thousand dollars which demonstates the underlying strength and stability of Knoxville’s real estate market.

My flagship website, Knoxville Home Center.com is a great place to find a new home and lots of other good information about the greater Knoxville % Farragut Tennessee areas.