Knoxville Foreclosure Watch 10/1/08
Welcome back, brave Watchers. Some people might have their heads buried in the sand this week as the markets took a turn for the worse, but we have a duty to keep our eye on these foreclosures. So, let’s get to it.
This week active listings are up a good bit, pendings are down below 100 for the first time since July, and closings are slightly up, with average days on market down. Incidentally, the number of active listings has gone steadily up over the past month, starting with 142 at the end of August and ending with the current 171. Interesting, no?
In new listing news, 37914 and 37917 were tied for the most new listings with 4 each, and yes, 37917 is still the leader of the pack with 46. Other zips that contributed more than one new listings this week were 37912, 37918, and 37919. And 37919 joined the double digit club with 10 new foreclosure listings so far.
In closed listing news, 37917 had the most with 3, while 37918 and 37921 tied for second place with 2 each.
Now for the breakdown:
Knox County Foreclosure Property Statistics as of 10/01/08 *
Current On-Market Listings - 171
Average Asking Price: $130,271
Median Asking Price: $90,000
Most Expensive New Listing: $354,500 (4 BR, 4 BA, 4000+ sq ft on 2+ acres on Tazewell Pike)
Least Expensive New Listing: $19,900 (3 BR, 1 1/2 BA, 1400+ sq ft on Washington Ave)
Notable New Listings:
North: $69,900 (3 BR, 2 BA 1300+ sq ft on Washington Pike)
South: $107,900 (3 BR, 2 BA, 1900+ sq ft off of John Sevier)
East: $37,500 (2 BR, 1 BA, 800 + sq ft off of Holston Dr)
West: $105,000 (2 BR, 3 BA, 1700+ sq ft fixer upper off of Wright’s Ferry)
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Current Pending Sales -99
Average Asking Price – $87,455
Median Asking Price – $64,900
Closed Sales September 24, 2008-September 30, 2008 - 13
Average Asking Price – $71,019
Average Sales Price – $67,665
Median Sales Price – $66,000
Average Days on Market -41
*Data taken from KAARMLS on 10/01/08 for Knox County single family residential properties only, and does not include condos or PUDS.
As always, if you need more information on any of these properties, just drop me a line.
If you’d like to receive new foreclosure listings automatically, send me an email with “Foreclosure List” in the subject line, and I’ll do the rest. If you trust me to watch your foreclosures, you can trust me not to spam you.
Why take the chance of ever missing out on Foreclosure Watch? Make sure you get all your foreclosure goodness every week by subscribing to All Around K-Town today, either by RSS or email!
Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
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