January 2010 Knoxville Home Sales Report
I have some good news and some bad news. The good news is that 2010 has started out with quite a bang — I honestly can’t say that I’ve ever been this busy in the first quarter. And I love being busy, trust me. The (not so) bad news is that I’m a little late in getting you the January 2010 Home Sales Report numbers from the Knoxville Area Association of Realtors. To make up for it, I’m putting together a special chart post that will (hopefully) be coming up later this week. Stay tuned!
There’s also some good news and bad news to report on the national and local home sales. The bad news is that nationally, sales of previously owned homes were down 7.2% in January. Boo. The good news is that national sales were still up 11% this January from January ‘09. And the even better news is that 0verall Knoxville home sales were up 18% last month over January ‘09. Can I get an amen?
While this might not signal the bottom of this roller coaster ride we’ve been on for well over two years, it’s certainly not a bad way to start off 2010.
So, what else happened in Knoxville home sales last month? Well, here’s the skinny on Knoxville area home sales in January, broken down for you , as always, AAKT style. Enjoy!
I love, love, love me some good news! Here’s a lot of it -
Median sales price for 4+ BR homes is (slightly) up.
Jan ‘09 – $227,500
Jan ‘10 – $229,000
Average sales price for 2 or less BR homes is (slightly) up.
Jan ‘09 – $76,100
Jan ‘10 – $77,300
Median sales price for 2 or less BR homes is (slightly) up.
Jan ‘09 – $64,000
Jan ‘10 – $66,500
Jan ‘10 – 588
Total number of condo units sold is (slightly) up.
Jan ‘09 – 39
Jan ‘10 – 46
And then there’s that not-so-good news. I gotta break that down too -
Jan ‘09 – $152,800
Jan ‘10 – $140,000
Jan ‘09 – $138,000
Jan ‘10 – $133,200
Jan ‘09 – $268,900
Jan ‘10 – $252,600
Jan ‘09 – $175,900
Jan ‘10 – $145,800
J————
Jan ‘09 – $139,000
Jan ‘10 – $135,000—
Jan ‘09 – 110
Jan ‘10 – 119
Conventional loans were once again down…
Jan ‘09 – 253
Jan ‘10 – 242
…while FHA loans were once again up.
Jan ‘09 – 97
Jan ‘10 – 127
And here’s the “Let’s get this thing on the market before those tax credits expire!” news-
The number of new residential listings was up...
Jan ‘09 – 2,251
Jan ‘10 – 2,363
…and so was the number of new condo listings.
Jan ‘09 – 282
Jan ‘09 – 335
Finally there’s the “And let’s get this thing priced right before those tax credits expire” news -
Jan ‘09 – $198,400
Jan ‘10 – $191,300
Jan ‘09 – $251,200
Jan ‘10 – $240,600
- Knoxville residential and condo sales are out of ICU and are now accepting visitors.*
- Home buyer tax credits seem to be breathing some life into overall sales.
- Those same credits may be helping to slightly boost sales prices for smaller homes, but they don’t seem to be doing a dang thing for much over $100K.
- Home sellers seem to be taking advantage of the tax credit window to not only get their homes on the market, but to get them priced to sell.
- Seriously, where would we be right now without FHA loans?
- That sound you hear is agents all over Knoxville breathing a collective sigh of relief that 2009 is over. Ahhhh.
If you’re interested in looking at both reports yourself, here is ‘09 and ‘10. Enjoy and please feel free to share your thoughts and observations.





Hard working Knoxville real estate agent by day. Intrepid Knoxville real estate blogger by night.