Knoxville Foreclosure Watch

What's up Watchers? This week Knoxville's on-market foreclosure listings and sales are down, while pending sales are up. And although closings are down this week, I have a feeling that as the weather gets warmer, we may be seeing more and more pendings and closings as banks finally get willing to take less money for these properties that are only weighing them down. What do you think?

But enough about the future. Here's the current breakdown -

Knox County Foreclosure Property Statistics as of 6/04/08 *

Current On-Market Listings - 148 ▼
Average Asking Price: $137,784 ▲
Median Asking Price: $89,450 ▬
Most Expensive New Listing: $520,000 (New 5 BR, 3 1/2, 4200 sq ft home off of Northshore)
Least Expensive New Listing: $34,900 (2 BR, 1 BA home in Mechanicsville)

Notable New Listings:
North: 4 BR, 2 1/2 BA, 2400+ sq ft home in Halls
South: 3 BR, 1 1/2 BA, 1700+ sq ft in Colonial Village
East: 4 BR, 2 BA, 1400+ sq ft 85 yr. old brick home off of Magnolia
West: 3 BR, 2 1/2 BA, 2500+ sq ft in Cambridge

Current Pending Sales -100 ▲
Average Asking Price - $80,611 ▼
Median Asking Price - $67,400 ▬

Closed Sales May 28, 2008-June 03, 2008 - 10▼
Average Asking Price - $111,320▼
Average Sales Price - $106,671 ▼
Median Sales Price - $73,950 ▲
Average Days on Market - 65 ▲




*Data taken from KAARMLS on 6/04/08 for Knox County single family residential properties only, and does not include condos or PUDS.

As always, if you have any questions about any of these properties, feel free to drop me a line.

If you'd like to receive new foreclosure listings automatically, just send me an email with "Foreclosure List" in the subject line, and I'll do the rest.

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