Knoxville, Tennessee
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For the week of September 27th the Knox County Registers of Deeds office is reporting 165 closed transactions. That’s a few more than our usual 150 average but still nothing to write home about.

Knoxville, TN weekly closed real estate sales report

Knoxville, TN weekly closed real estate sales report

  • Last week, September 20th, we had 131 closed transactions
  • September 13th had a whopping 269 for some still unknown reason
  • September 6th reported 156
  • And 136 for the week of August 30th

All this goes to show the average number of weekly transactions is around 150. It also shows the lower end homes are still dominating the market.

Here’s the percentages of the market for each category:

  • Over 1 million dollars: 0%
  • $500,000 to 1 million: 1.82%
  • $300,000 to $500,000: 7.27%
  • $200,000 to $300,000: 13.91%
  • $150,000 to $200,000: 14.55%
  • $100,000 to $150,000: 32.73%
  • $50,000 to $100,000: 18.79%
  • Under $50,000: 10.91%

The $100,000 to $150,000 price range was 32.73% of our total market this past week; that’s twice as many as any other two categories combined!

So what does that mean? It means that low end homes, typically bought by 1st time timers with about 35% of that number relying on the $8,000 federal tax credit for some or all of their down payment and closing cost money, are buying the highest numbers of homes.

You would think with lower end homes selling that the former owners of these home would be moving up into a bigger, more expensive home but that doesn’t seem to be happening.

Here’s where we are year to date compared to the past 4 years.

Year to date sales through August compared to the past 4 years.

Year to date sales through August compared to the past 4 years.

Please feel free to comment or ask questions.

Also please feel free to visit KnoxvilleHomeCenter.com for lots more current information about the Knoxville, Tennessee real estate market.

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