As a full time Knoxville REALTOR® I have seen the Knoxville real estate market pick up quite a bit lately. The large dark bags under my eyes tell the story of 12-18 hour work days 5 out of the 7 days last week. Am I complaining, absolutely not! The Knoxville real estate market is starting to make a rebound and in several areas it is actually now a Sellers Market.
So what defines a Sellers Market? A big indicator in the type of market is the absorption rate- this lets you know how long it would take to absorb the amount of inventory that is currently on the market based on past sales. Read my article on absorption rates to learn more about what they are and how they can affect those buying a home in Knoxville TN and those selling a home in Knoxville TN.
Here is a break down to explain market conditions:
Seller's Market- 5 or less months of inventory
Healthy Market- 6 months of inventory
Buyers Market- over 7 months of inventory
Seller’s Markets in Knoxville TN as of August 2009
- Northshore/Choto- $225,000 and under
- Farragut- $150,000 and under
- Hardin Valley- $225,000 and under
- Karns- $225,000 and under
- Powell- $150,000 and under
- Halls- under $150,000
If you have a home in this area- now is the time to sell! Inventory is low and Buyers are buying in this area. Sell high and then buy low in an over saturated area. CLICK HERE to see where some of Knoxville's most saturated market areas are.
Contact us today for your FREE Market Analysis and start packing!
Instantly search all properties for sale in the Knoxville TN and surrounding areas now! Visit Christine McInerney and Jennifer Halinkowski with Keller Williams Realty on-line at: Instantly Search For All Knoxville, TN Homes , Condos , and land For Sale!!
www.MyKnoxvilleHomeSearch.com
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
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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Wow, this is good to hear! Pass it on! lol Things are actually picking up here as well, just not seller owned homes.
AWESOME! Y'all are sounding like us now! This is crazy with the show, write, submit cycle. And the buyers are writing HIGH!