Knoxville Foreclosure Watch: August 19, 2009
Welcome back, Watchers! In this week’s edition of Knoxville Foreclosure Watch, pending foreclosures were down, while closed foreclosures were up.
What about active foreclosures, you say? Well, they were up. In fact, they were up higher than they have ever been since I started this foreclosure watchin’ business about 16 months ago. As I write this, there are 214 active foreclosure listings in Knox County in the Knoxville MLS. And while that’s nothing compared to very hard hit areas in California, Michigan, and it’s only 5 higher than the last record high I recorded here back in April, that’s still quite a bit higher than where we started out in April of ’08, when actives held steady in the 150 to 160 range for several months.
Is it the end of the world as we know it? Nope. Is it a sign of the times? Most definitely. Will I still be here watching to let you know what happens as we go into the fall months? You betcha.
In new listing news, 37917 was out in front last week with 5 new foreclosure listings. Other zips with more than one new listing included 37849, 37914, 37918, 37920, 37921, 37922, 37924, and 37934.
There were 12 closed foreclosure listings last week: 3 in 37918 and 1 each in 37806, 37909, 37912, 37914, 37915, 37919, 37931, 37932, and 37934.
Now for the breakdown -
Knox County Foreclosure Property Statistics as of 8/19/09 *
Current On-Market Listings - 214
Average Asking Price: $127,715
Median Asking Price: $79,900
Most Expensive New Listing: $399,900 ( 5 BR, 3.5 BA, 4300+ sq ft in Farragut)
Least Expensive New Listing: $12,000 (No BR & BA info, 1400 sq ft on MLK Blvd)
Notable New Listings:
North: $150,000 (3 BR, 2.5 BA, 1700+ sq ft in Powell)
South: $43,900 (3 BR, 1 BA, 1000+ sq ft off Martin Mill Pike)
East: $97,500 (2 BR, 2 BA, 1200+ sq ft in Carter)
West: $147,900 (4 BR, 2.5 BA, 2300+ sq ft in Bexhill)
Current Pending Sales -122
Average Asking Price – $86,154
Median Asking Price – $79,550
Closed Sales August 12, 2009- August 18, 2009 - 12
Average Asking Price – $113,141
Average Sales Price – $112,415
Median Sales Price – $102,500
Average Days on Market – 62
*Data taken from KAARMLS on 08/19/09 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. Friends don’t let friends send spam.
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Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
[...] there are a bunch of foreclosed properties lurking about. The good news is that these same properties often are great deals for the right [...]