Knoxville Foreclosure Watch: 1st Anniversary Edition
Happy Tax Day, Watchers! This week Foreclosure Watch celebrates its 1 year anniversary and oh what a year it’s been!
To give you an idea of how the foreclosure market how grown in the past 365 days, here are the stats from this week last year vs this year:
Active Foreclosure Listings
April 16, 2008: 158
April 15, 2009: 209
Pending Foreclosure Listings
April 16, 2008: 91
April 15, 2009: 130
Closed Foreclosure Listings
April 16, 2008: 7
April 15, 2009: 12
I’d say that’s a pretty big jump for both active and pending listings: about 32% & 43% respectively. And yes, those active foreclosure and pending foreclosure numbers for this week are, indeed, new FW highs. What a way to celebrate a birthday.
You can see from the ol’ FW chart that active foreclosure listings have been going up and up and up since about last September, while the pending listings didn’t really start picking up steam until October or November. And although it’s hard to tell on this chart, closed listings just started edging up ever so slightly around mid to late February.
Keep in mind that all of this is completely unscientific – remember, I was a liberal arts major. But, if I do say so myself, it’s been a fun way to gauge what’s going on in a not so fun housing market. Thanks for playing along!
Now, back to what we’re here for-
There were 27 new foreclosure listings last week and 37914 was the clear winner with 6. Other zips with more than one new listing included 37917, 37920, 37921, 37924, 37934, and 37938. 37917 is still in first place for the most new foreclosure listings this year with a grand total of 55.
There were only 7 closed listings this week: 2 in 37918 and 1 each in 37909, 37912, 37914, 37922, and 37934.
Now for the breakdown -
Knox County Foreclosure Property Statistics as of 4/15/09 *
Current On-Market Listings - 209
Average Asking Price: $119,980
Median Asking Price: $79,900
Most Expensive New Listing: $489,000 (3 BR, 3.5 BA, 3000+ sq ft new const. in Farragut)
Least Expensive New Listing: $14,900 (2 BR, 1 BA, 600+ sq ft in North Knox)
Notable New Listings:
North: $249,900 (3 BR, 2 .5 BA, 2700+ sq ft in Powell)
South: $83,500 (3 BR, 1 BA, 1200 sq ft off Alcoa Hwy)
East: $79,900 (3 BR, 1 BA, 1300+ sq ft on Parkview)
West: $164,900 (3 BR, 2 Full BA, 2 Half BA, 2300+ sq ft in Lovell Woods)
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Current Pending Sales -130
Average Asking Price – $106,141
Median Asking Price – $93,950
Closed Sales April 08, 2009- April 14, 2009 - 7
Average Asking Price – $178,400
Average Sales Price – $168,159
Median Sales Price – $130,000
Average Days on Market – 50
*Data taken from KAARMLS on 04/15/09 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. Spam free since 2008.
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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