Knoxville Tennessee Real Estate Blog

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Currently in Knox County, Tennessee there are 3.461 single family homes listed for sale along with 987 condos. Year to date in 2010 360 of those single family homes have been placed in “Sale Pending” status which means sold but not yet closed; and 55 condos. Most listings that make it to sale pending status end up closing although not all, due to home inspection issues, buyer financing, and other reasons.

The chart below is the sold listings year to date versus actives as of February 15th, 2010.

It appears, based on these figures, that single family homes are selling close to 10% of listings while condos are around 5%.

The first monthly figures are available now from the Knoxville Area Association of Realtors so we can see how this just past January stacks up to sales in previous Januarys.

January 2010 compared to past Januarys

January 2010 closed sales beat January 2009 by 90 units but even that number is still way below previous January’s. It appears from these numbers that our volume is back to where it was in Januarys 2001 & 2002.

According to some figures from Trulia.com the average listing price is down somewhat which means there are more lower priced homes coming on the market now than upper price range ones

So far this year we’ve seen a very modest improvement in sales numbers but still quite a bit below previous years. Prices remain weak too with discounts being the order of the day in homes that sell and close.

Average days on market (time to sell) was 118 days in January 2010 compared to 110 in January 2009 and 105 for January 2008.

So that’s where Knoxville real estate is currently, subscribe to my blog to receive the latest updates and Knoxville area real estate news.

Search all Knoxville area homes at www.KnoxvilleHomeSearcher.com with multiple photos, maps, and much more.

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• Crystal ball gazings for the Knoxville, Tenenssee real estate market. (knoxvilletennesseerealestateblog.com)
• Knoxville, TN real estate transfers for the week of January 31st (knoxvilletennesseerealestateblog.com)
• Knox County Register of Deeds Real Estate Transfers for the week of January 17th (knoxvilletennesseerealestateblog.com)

The closed sales from the Knox County Register of Deeds is out today so let’s see what happened in the first week of February, 2010.

Knox County real estate transfers

We’re up to 116 this week. Still short of the 150 we were averaging in 2009 but a little better than the 108 we had last week.

It’s still a bit early in the year to begin saying things are getting better but some number and trends are encouraging.

As the graph above illustrates a slight uptick in our median sales price.

While the average price per square feet is fairly flat.