June 2009 Knoxville Home Sales Report
It’s everybody’s favorite time of the month – Home Sales Report time! And there’s actually GOOD news this month! And no, it’s not great news, but it’s not bad, and I’m just not that picky any more.
This month was a flurry of activity as I worked with first time home buyers who were scurrying to find a house and get their $8,000 check from Uncle Sam. And it seems those first time home buyers and their home sales helped bump up smaller home sales prices last month from the same time last year. Those sales may also have been what gave us a teensy, tiny increase in sales from last month to this month. Yep, the kids love the first time home buyer tax credit, and I know a lot of agents – this one included – who will be mighty sad when it’s gone in just four short months.
But you didn’t come here for my philosophical waxing. You came here for the numbers. So without further ado, it’s time to break down the April home sale numbers the only way that I know how — AAKT style. Aw, yeah.
First let’s start with our 3 whopping pieces of good news -
Average sales price for 2 or less BR homes is up.
June ‘08 – $85,500
June ‘09 – $96,500
Median sales price for 2 or less BR homes is up.
June ‘08 – $78,200
June ‘09 – $82,000
Average sales price for 3 BR homes is up.
June ‘08 – $162,900
June ‘09 – $180,400
Median sales price for 3 BR homes is down.
June ‘08 – $145,000
June ‘09 – $140,000
June ‘08 – $303,100
June ‘09 – $268,800
Median sales price for 4+ BR homes is down.
June ‘08 – $254,000
June ‘09 – $230,000
Average condo sales price is down.
June ‘08 – $166,100
June ‘09 – $159,200
Median condo sales price is down.
June ‘08 – $147,000
June ‘09 – $139,500
June ‘09 – 998
June ‘09 – 116
June ‘08 – 95
June ‘09 – 113
Conventional loans were once again way down…
June ‘08 – 722
June ‘09 – 459
…while FHA loans were up.
June ‘08 – 193
June ‘09 – 234
And here’s the “You can’t keep condo owners down” news-
The number of new residential listings was down quite a bit...
June ‘08 – 2,853
June ‘09 – 2,689
…but the number of new condo listings was only down by one.
June ‘08 – 349
June ‘09 – 348
Finally there’s the “Seriously, people, let’s get on the same page with this pricing thing!” news-
June ‘08 – $236,500
June ‘09 – $231,300
June ‘08 – $195,700
June ‘09 – $219,700
- Knoxville residential and condo sales are still soft as a wee baby’s bum.*
- Larger home prices took a beating after rallying last month. Your guess is as good as mine on this one.
- Smaller home prices rallied once again, due, I’m betting, to that nifty $8,000 first time home buyer tax credit.
- Although home owners made a move in the right direction, high listing prices are still contributing to still high inventory.
- Your conventional loan is soooo 2007.
- If you have good credit, a down payment, and no home to sell, you are the King or Queen of the current market. Get out there and rule!
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.




Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
One response to "June 2009 Knoxville Home Sales Report"
Your K town sounds a great deal like the ‘Boro. Keep blogging girl!!! You Rock!!!! I would expect nothing less from a fellow Coldwell Banker professional
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