January 2009 Knoxville Home Sales Report
Being busy in my line of work is a good thing – a very, very good thing – but it also means that sometimes things completely slip my mind. Things like blogging about the Knoxville Home Sales Report, for example. Whoops.
So, without further ado, here’s the skinny on Knoxville area home sales in January, broken down for you , as always, AAKT style. Enjoy!
And yes, there’s actually some good news this month -
Median sales price for 4+ BR homes is up.
Jan ’08 – $218,000
Jan ’09 – $227,50
Average condo sales price is (slightly) up.
Jan ’08 – $173,300
Jan ’09 – $175,900
And, of course, there’s the not-so-good news -
Average sales price for 2 or less BR homes is down.
Jan ’08 – $86,400
Jan ’09 – $76,100
Median sales price for 2 or less BR homes is (slightly) down.
Jan ’08 – $66,000
Jan ’09 – $64,000
Jan ’08 – $161,800
Jan ’09 – $152,800
Jan ’08 – $144,000
Jan ’09 – $138,000
Jan ’08 – $285,800
Jan ’09 – $268,900
Jan ’08 – $149,900
Jan ’09 – $139,000
Jan ’09 – 498
Jan ’08 – 99
Jan ’09 – 39
Jan ’08 – 105
Jan ’09 – 110
Conventional loans were once again way down…
Jan ’08 – 531
Jan ’09 – 253
…while FHA loans were way up.
Jan ’09 – 97
And here’s the “Everybody’s waiting to sell” news-
The number of new residential listings was down...
Jan ’08 – 3,054
Jan ’09 – 2,251
…and the number of new condo listings was down.
Jan ’08 – 508
Jan ’09 – 282
Finally there’s the “condos owners get it, but home owners don’t” news -
Jan ’08 – $240,900
Jan ’09 – $198,400
Jan ’08 – $244,400
Jan ’09 – $251,200
- Knoxville residential and condo sales are still soft as an overripe melon.*
- Home buyers are still loving – or being forced to love – the FHA loan.
- Knoxville home owners – unlike Knoxville condo owners – are stubbornly refusing to read the writing on the wall, and are still pricing their homes higher than what the market is willing to pay for them. Yes, Virginia, price really does conquer all.
- Not only are folks waiting to buy, it also looks like a lot of them are waiting to sell, too.
- I’m still saying it’s a buyer’s market. If you have the means and the wherewithal, get out there and slam some doors!
If you’re interested in looking at both reports yourself, here is ‘08 and here is ’09. Enjoy and please feel free to share your thoughts and observations.
Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
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