Knoxville Foreclosure Watch

Konichiwa, Watchers. This week on Foreclosure Watch, the on-market listings are up, closed prices are down, and days on market is way down. DOM dropped so much, I decided to go back and take a look to see how it's been fluctuating over the last few months. Here's a nifty chart:


















It looks like this week's drop is the biggest since early May. Several of the properties that closed this week were on the market less than 2 weeks. I'm going to watch this over the next few weeks to see if it's a trend or just a fluke. Any thoughts?

On a technical note: I'm linking to new property info sheets this week. Let me know what you think and which one, old or new, you like better. Thanks!

Now for the breakdown:

Knox County Foreclosure Property Statistics as of 6/18/08 *

Current On-Market Listings - 160 ▲
Average Asking Price: $127,971 ▼
Median Asking Price: $86,700 ▼
Most Expensive New Listing: $314,900 (5 BR, 3 1/2 BA, 4700+ sq ft in Concord Hills )
Least Expensive New Listing: $17,500 (2 BR, 1 BA, 1000+ sq ft in East Knoxville)

Notable New Listings:
North: 3 BR, 1 1/2 BA, 1900+ sq ft on Emoriland
South: 4 BR, 2 BA, 1300+ sq ft brick rancher off of Sevier
East: 3 BR, 1 1/2 BA, 1100+ sq ft in Holston Heights
West: 3 BR, 2 1/2 BA, 1600+ sq ft in Farmington

Current Pending Sales -107 ▲
Average Asking Price - $87,062 ▲
Median Asking Price - $74,900 ▲

Closed Sales June 11, 2008-June 17, 2008 - 10 ▲
Average Asking Price - $77,090▼
Average Sales Price - $70,800 ▼
Median Sales Price - $69,501 ▼
Average Days on Market - 37 ▼






Sorry! Due to some technical difficulties and lack of patience, no average sales price chart this week!

*Data taken from KAARMLS on 6/18/08 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. No yucky spam is involved, I swear.

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