Knoxville Foreclosure Watch: February 25, 2009
Howdy Ho, Watchers! This week on Foreclosure Watch, active listings were down while pending and closed listings were both up. Have the investors finally come out to play in this buyer’s market? Only time will tell.
In new listing news, there were 26 new listings last week. 37914 led the pack with 5 new listings, while 37917 and 37921 tied for second place with 4 each. Other zips with more than one new listing last week – 37918, 37922, and 37938. And, of course, 37917 is still the king of new foreclosure listings in 2009 with 32 so far.
There were 12 closed foreclosure listings last week with 2 each in 37914 and 37917. 37917 is winning in this category as well, with 10 closed foreclosure listings so far this year.
Now for the breakdown -
Knox County Foreclosure Property Statistics as of 2/25/08 *
Current On-Market Listings - 184
Average Asking Price: $114,962
Median Asking Price: $81,200
Most Expensive New Listing: $199,900 (5 BR, 3 BA, 3800+ sq ft on 15+ acres in Mascot)
Least Expensive New Listing: $18,500 (2 BR, 1 BA, 500+ sq ft off Western Ave)
Notable New Listings:
North: $99,900 (3 BR, 1 BA, 1000+ sq ft in Fountain City)
East: $49,900 (5 BR, 2 BA, 2000+ sq ft off Magnolia)
West: $135,000 (3 BR, 2.5 BA, 1900 sq ft in Lakeshire)
Downtown: $75,000 (4 BR, 1 BA, 1700+ sq ft in Mechanicsville)
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Current Pending Sales -124
Average Asking Price – $100,568
Median Asking Price – $79,900
Closed Sales February 18, 2009- February 24, 2009 - 12
Average Asking Price – $119,383
Average Sales Price – $117,531
Median Sales Price – $136,750
Average Days on Market – 75
*Data taken from KAARMLS on 2/25/09 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 is so 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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