Knoxville Foreclosure Watch

Whatcha doin' Watchers? This week on Foreclosure Watch, active and pending listings, as well as closed sales, are all slightly down. As for our strange data blips from last week, the average sales price is on its way back down after last week's unexpected spike, but new active listings continue their downward trend with only 15 new foreclosure listings this week vs 26 last week. Again, it's too early to call this a trend, but I'm still going to be keeping my eye on it.

In other news, 37917 overtook 37914 as the zip code with the most new foreclosure listings since I started keeping count and 37909 made it's very first showing with 1 new foreclosure listing this week. Should I make up prize ribbons?

Now for the breakdown:

Knox County Foreclosure Property Statistics as of 8/06/08 *

Current On-Market Listings - 146 ▼
Average Asking Price: $139,817 ▲
Median Asking Price: $89,900 ▲
Most Expensive New Listing: $585,500 (4 BR, 3 1/2 BA, approx 4000 sq ft on 5+ acres in Powell)
Least Expensive New Listing: $29,900 (2 BR, 1 BA, 800+ sq ft off of Campbell Station Rd.)

Notable New Listings:
North: $94,900 (3 BR, 2 BA, 1900+ sq ft in Fairmont Park)
South: $90,000 (4 BR, 3 BA, 2000+ sq ft in Lake Forest)
East: $33,000 (2 BR, 1 BA, 1000+ sq ft off of Chestnut)
West: $379,000 (5 BR, 4 BA, approx 4500 sq ft in Cavet Station)

Current Pending Sales -103 ▼
Average Asking Price - $87,916▲
Median Asking Price - $74,900 ▬

Closed Sales July 30, 2008-August 5, 2008 - 11 ▼
Average Asking Price - $108,118 ▼
Average Sales Price - $99,450 ▼
Median Sales Price - $88,500 ▼
Average Days on Market - 76 ▲

*Data taken from KAARMLS on 8/06/08 for Knox County single family residential properties only, and does not include condos or PUDS.













As always, if you need more information on any of these properties, just drop me a line.

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