It’s the week before Thanksgiving, lets see if the Knoxville area real estate market has any real estate thanks to give.

The Knox County Register of Deeds reports 117 closed transactions in the past week. That about 30 less than average. However the Knoxville Area Association of Realtor’s October sales figures show a 14.5% in October 2009 versus October 2008, go figure.

Here’s the past week’s stats broken down by price points.

Knox County Real Estate transactions recorded

Knox County Real Estate transactions recorded

The lower price points are still dominant, there are just less of them.

The chart below tracks the past 5 years sales volume through October 2009, the latest available data.

Knoxville area sales

Knoxville area real estate sales

So far this year sales are bucking the seasonal downturn and remaining steady. This is almost certainly driven, at least in part, by the $8,000 tax credit for new homebuyers. Now that it’s been extended to sellers who then buy, it will be interesting to see if it drives more sales in the upper price points.

Below is a comparison of Knoxville area sales for the 3rd quarters (July, August, Sept.) broken down by bedrooms; 2 or fewer, 3, and 4 or more.

11 year comparison of average sales prices by bedroom size

11 year comparison of average sales prices by bedroom size

For buyers financing remains a high hurdle. Lenders are demanding more documentation than ever before in addition to squeaky clean credit. Credit markets are in a very volatile state right now; some lenders have even raised their credit score requirements after approving loans based on the former good scores.

However, don’t let any negative talk discourage you from buying if now is the right time for you to buy. There are mortgage loans available at very attractive interest rates and sellers are more flexible than they were last year.

www.KnoxvilleHomeCenter.com is the place to look at all of the Knoxville area real estate listings for sale.

Please feel free to ask any real estate questions you have or call me to go see some homes for sale.

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