Neighborhood of the Week: Lake Forest

This week we're going down South across the Henley Street bridge to a lovely little neighborhood called Lake Forest.

Lake Forest is a pretty well-kept secret as far as established Knoxville neighborhoods go and chances are you've driven right by it on your way down Chapman Highway and didn't even know it. Located just northeast of Chapman Highway, the neighborhood is bounded by May Apple to the north, Red Bud Road the the west, and Lindy Road to the east. In other words, if you've passed Kay's Ice Cream, you've gone too far.

Much of Lake Forest is included in the Chapman Highway Dogwood Trail (see map below). Add reasonable home prices, convenience to downtown and campus, and picture perfect views to that selling point, and you see why Lake Forest a very desirable place to call home.

Online information regarding the history of this neighborhood is scarce, so I would appreciate anything anybody can add in the comments. Thanks!



[original map from dogwoodarts.com]

Here's Lake Forest by the numbers -

Lake Forest*

Current On-Market Listings - 7
Average Asking Price: $142,871
Median Asking Price: $134,900
Most Expensive: $204,000 (4 BR, 2 BA, approx 2200 sq ft basement ranch)
Least Expensive: $107,900 (4 BR, 1 1/2 BA, 1400+ sq ft foreclosure)

Current Pending Sales -3
Average Asking Price: $141,600
Median Asking Price: $129,900

Closed Sales - Q1 2007 - 0
Average Asking Price - NA
Average Sales Price - NA
Median Sales Price - NA
Average Days on Market - NA

Closed Sales - Q1 2008 - 1
Average Asking Price - $144,900
Average Sales Price - $144,704
Median Sales Price - NA
Average Days on Market - 171

*Data taken from KAARMLS on 5/19/08 does not include adjacent subdivisions, condos, PUDS, or multi-family units.

As always, if you want any more information about any of these properties just give me a shout.

Know of a neighborhood you think is especially NOTW worthy? Don't keep it to yourself - let me know about it in the comments.