Charting the Knoxville Real Estate Market: 2004-2008
Early this week, I started a post about the 2008 year end Home Sales Report. It was going to be a chart extravaganza comparing 2007 to 2008. But then I started getting curious about how 2007 and 2008 compared to previous years, and the next thing you know, you have the charts below, showing Knoxville real estate sales and market statistics from 2004-2008.
Most of this is not new news, but I still think it helps put some perspective on where we currently are in all of this.
In this first one, you can see that in terms of sales, the market actually started its decline in 2007 -
But in the next one, you see that prices didn’t start their decline until 2008-
This next one proves I’m not exaggerating when I say that FHA loans ruled in 2008 -
Here you see that average days on market actually began its climb back in 2006-
Finally, you see a steady increase in new residential and condo listings until it finally fell (along with number of sales) in 2008.
So, that’s it. No scientific or unscientific analysis. Just the charts.
As always, I’d love to hear your thoughts, comments and other general harangues.
All information in the above charts was taken from KAARMLS and the KAARMLS year end Home Sales Reports for 2004, 2005, 2006, 2007, and 2008.
Author: Suzy
Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.
Your graphs aren’t tracking the same data, but it’s interesting comparing the trends to the S&P/Case-Shiller Home Price Indices over the same period.