Knoxville TN Real Estate Blog

Powell TN Real Estate Market Report- January- June 2009

The Powell TN subarea is located in the North Western portion of Homes for sale in Powell with swimming poolsKnox County and is best known for its suburban small town feel (with a bit ruralness) but within minutes to Downtown Knoxville.  The Powell subarea are runs adjacent to the Karns subarea and is located just West of Halls.  The Powell area has been growing quite rapildy over the past couple of years and has all the conviences of West Knoxville, but not as much traffic.  One major reason people are flocking to the Powell area is because you can tend to get a lot more house for your money.  If you are thinking of Selling or Buying a home in the Powell area you may be interested in these recent market report.

Please note that these stats that I will be showing below are taken from the Knoxville Association of Realtors® and include only single family residence homes that are/or have been listed in the Knoxville MLS.  Also, for comparison purposes I am only using data taken from January 1, 2009 to June 30, 2009.

Active Listings

273

Closed Listings (1/1/09-6/30/09)

119

Absorption Rate
(1/1/09-6/30/09)

13.77

 


So what does this all mean?  What this shows is that the Powell  TN subarea as a whole (all subarea and all prices) has an average of 13.77 months of inventory.  The absorption rate will vary by price range and specific properties (i.e. # of bedrooms, # of bathrooms, and square footage).  If you are thinking of Selling a home in the Powell area contact us and we will glady provide you with a custom report.

Interested in purchasing a home in the Powell TN area then contact us to set up a listing notifier to be the first to see the hottest listings.  There are some spectacular homes for sale right now and many home owners who can't afford to have their home sit on the market for 7+ months are pricing their homes to sell.  Sign up for a Powell TN Listing Notifier today

As you can see from the chart below the Powell TN subarea has seen an increase in the number of closed sales in the past month, compared to the past 6 month average.  As a result there is currently about 9.41 months of inventory on the market.  This shows that currently the in Powell subarea, while it is still a Buyers Market, the inventory is decreasing and homes priced right are still selling.  The average closed price during June 2009 was $160,589 and sellers were able to get 95.8% of their list price.    

Current Active Listings

273

Closed Listings
(6/1/09-6/30/09)

29

Absorption Rate
(6/1/09-6/30/09)

9.41

 

Interested in purchasing a home in the Powell TN area then contact us to set up a listing notifier to be the first to see the hottest listings.  There are some spectacular homes for sale right now and many home owners who can't afford to have their home sit on the market for 7+ months are pricing their homes to sell.  Sign up for a Powell Listing Notifier today.   For example, check out this amazing all brick one level home with a private backyard paradise and amazing pasture views:- priced to sell at just $183,500.

 

Keep in mind real estate is and always has been all about location, location, location.  There are some areas and price ranges within Powell that have improved significantly while others have not changed too much.  Please click on the designated subareas below for data specific to each Knox County TN subarea.

 

Knox County Subareas (click on a subarea to view Market area stats specific to each subarea)

If you are considering Selling your Knoxville area home Christine McInerney and Jennifer Halinkowski with Keller Williams Realty Knoxville TN will gladly provide you with a Free Comparative Market Analysis (CMA) as well as subdivision and area specific market data.  Contact us by phone at (865)237-5289 or via e-mail at info@HomesForSaleKnoxville.com.

 

Visit Christine McInerney and Jennifer Halinkowski with Keller Williams Realty on-line at:
www.HomesForSaleKnoxville.com and www.KnoxvilleReal-Estate.com

Office: (865) 694-5904
Christine (865) 237-5289 and Jennifer (865) 621-3658
Mail to: McIn-Kowski@HomesForSaleKnoxville.com

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Please visit us at www.HomesForSaleKnoxville.com and www.SearchKnoxvilleRealEstate.com for additional information about the Knoxville TN area, Knoxville Relocation, and Selling and Buying Knoxville Real Estate.

 



0 commentsChristine McInerney • July 08 2009 09:41PM
Powell TN Real Estate Market Report- January- June 2009
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The Powell TN subarea is located in the North Western portion of Knox County and is best known for its suburban small town feel (with a bit ruralness) but within minutes to Downtown Knoxville. The Powell subarea are runs adjacent to the Karns… more