Knoxville Foreclosure Watch April 22, 2008
Well, hey there, Watchers! Glad you could make it back. This week on Knoxville Foreclosure Watch, active foreclosure listings were down, closed foreclosure listings stayed the same and pending foreclosure listings were up. Way up. In fact they were the highest they’ve ever been since I started watching them about a year ago.
So what’s the deal, you ask? My guess is that super low rates + good sized foreclosure inventory + a nice big tax credit = a pretty darn good deal for buyers. And I could be wrong, but I don’t think it’s just investors out there. I think regular old home buyers are looking to foreclosed properties to get what they think will be the best possible deal in an already hoppin’ buyers market. But that’s just me guessin’.
Moving on…
In new foreclosure news, 37923 was the winner for most new listings with 4. Other zips with more than one new foreclosure listings included 37914, 37917, 37921, 37922, and 37938. Care to guess which zip is still in the lead with 57 new foreclosure listings so far this year? If you guessed 37917, give yourself a hand.
In closed listing news, only one zip had more than one and that was 37914. Other zips with closed listings this week included 37849, 37915, 37917, 37918, and 37920. And 37917 and 37918 are still tied for first place with 21 closed foreclosure listings each so far this year.
And yes, those are different charts than the ones you normally see here. At the suggestion of a longtime FW fan, I’m experimenting with different ways to chart this information that will make it easier to read and digest. Let me know what you think in the comments. Also, if you have any suggestions for better ways to display FW stats, I would love to hear them. Remember, I didn’t learn a lot about chart makin’ when I got that liberal arts degree.
Now for the breakdown -
Knox County Foreclosure Property Statistics as of 4/22/09 *
Current On-Market Listings - 201
Average Asking Price: $118,527
Median Asking Price: $79,900
Most Expensive New Listing: $299,900 (5 BR, 2 full BA, 3 half BA, 3100+ sq ft off Northshore)
Least Expensive New Listing: $22,900 (3 BR, 1 BA, 1200+ sq ft off Asheville Hwy)
Notable New Listings:
North: $45,000 (3 BR, 1 BA, 1200+ sq ft near St. Mary’s)
South: $124,900 (4 BR, 3.5 BA, 2500+ sq ft off Chapman Hwy)
East: $109,900 (3 BR, 2 BA, 1200+ sq ft in Carter)
West: $156,000 (3 BR, 2.5 BA, 2600+ sq ft in Gulf Park)
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Current Pending Sales -144
Average Asking Price – $110,844
Median Asking Price – $95,450
Closed Sales April 15, 2009- April 21, 2009 - 7
Average Asking Price – $49,329
Average Sales Price – $48,400
Median Sales Price – $41,501
Average Days on Market – 52
*Data taken from KAARMLS on 04/22/09 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. This is an anti-spam zone.
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Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
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