If you are looking to buy Real Estate in Knoxville TN, like most buyers out there you are probably looking for a “good deal”. Often times the “best deals” can be found in areas in which the market is saturated.
So why would you want to buy in an area that is not selling? The answer is two fold 1) There are many more choice and 2) Sellers that are selling in this market have to make sure their home is competitive and there are two ways to do this- decrease the price and invest in upgrades that would make their home more appealing.
This means potentially great deals for those interested in purchasing Knoxville Real Estate and you can often get a better home for less money. As a Knoxville REALTOR® I am in houses day in and day out and am amazed about what money can buy in some of these areas.
For example, check out this great deal in Mallard Bay, a Knoxville lakeside community. The Sellers purchased this fine home in 2006 for $575,000 and it is offered for only $489,000- www.12641Bayview.com
Real Estate has historically been one of the best long term investments out there.
What makes a market a Buyers’ Market? A Buyers Market is a market that has over 7 months of inventory.
| Area | Price Range | Months Supply of Inventory |
| Farragut | $151K-$226K $226K-$300K $301K-$375K $376K-$450K $451K-$550K $551K-$650K |
15.7 8.3 13.7 8.1 27.4 28.5 |
| Northshore / Choto | $301K-$375K $376K-$450K $451K-$550K $551K-$650K |
7.8 96.0 30.0 19.5 |
| Concord / Bluegrass | $301K-$375K $376K-$450K $451K-$550K $551K-$650K |
9.7 9.3 22.0 27.0 |
| Cedar Bluff | Under $150K $151K-$226K $226K-$300K $301K-$375K $376K-$450K $451K-$550K |
8.3 9.1 12.7 8.0 27.0 0 Sales |
| Westmoreland, Sequoyah Hills West HIlls |
$151K-$226K $226K-$300K $376K-$450K $451K-$550K $551K-$650K |
10.5 22.0 9.4 13.8 0 Sales |
| Lovell Rd / Campbell Station | Under $150K $151K-$226K $226K-$300K $301K-$375K $376K-$450K |
12.0 12.8 9.8 27.0 18.0 |
| Hardin Valley | $226K-$300K $301K-$375K $376K-$450K $451K-$550K $551K-$650K |
11.0 10.8 25.5 0 Sales 0 Sales |
| Karns | $226K-$300K $301K-$375K $376K-$450K |
10.3 0 Sales 15.0 |
| Powell | $151K-$226K $226K-$300K $301K-$375K |
10.2 22.7 25.5 |
| Pleasant Ridge / Norwood | Under $150 $151K-$226K $226K-$300K |
7.4 12.8 0 Sales |
| Fountain City | Under $150K $151K-$226K $226K-$300K $376K-$450K |
10.0 14.8 11.0 8.0 |
| Halls | $151K-$226K $226K-$300K $301K-$375K $376K-$450K |
10.0 15.0 0 Sales 0 Sales |
**These stats and figures are taken from the Knoxville MLS for single family homes during 4/1/09- 6/30/2009 and are broken down to general areas. As real estate is all about location, location, and location some neighborhoods in these areas may be selling well.
In the Knoxville area there are some areas and price ranges that have well over 2 years of inventory. This means that if home owners want to sell they need to be aggressive in their advertising, marketing, price, and condition. Buyers have tons to choose and if your home is not in top condition or overpriced you are wasting your time.
If you are looking to buy in Knoxville TN in one of the areas or price range above there has never been a better time to buy!
Contact us today for your FREE Market Analysis !
Instantly search all properties for sale in the Knoxville TN and surrounding areas now!
www.MyKnoxvilleHomeSearch.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
Instantly Search For All Knoxville, TN Homes , Condos , and land For Sale!!
Christine McInerney and Jennifer Halinkowski - Knoxville TN Real Estate - Keller Williams Realty Knoxville Copyright © 2009
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