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Spotlight on December in Hamblen County Real Estate

By
Real Estate Agent with Village Real Estate Services 271657

Opening Doors

 

In the month of December, there were 153 New Residential Single Family Home listings submitted to the Lakeway Area Association of Realtors.  That's less new homes on the market as in November.  The total number of Hamblen County Homes for sale on the market in November was nearly 850, but in December that number dropped to 682 total. 

Of those 682 homes on the market, 90 Sold in the month of December.  That's 13.2% Absorption rate for homes on the market.  This is up from the last three months where only 10% of homes on the market were sold.  Still, that's only 13 of every 100 homes are selling leaving 87 of every 100 still on the market.  At this rate, if no more homes were placed on the market, Hamblen County would have enough homes available for buyers for the next 7.5 months. 

Some price ranges are fairing better than others.  

In November, houses between 100K and 120K were fairing well at 20% absorption rate.   In December, 11 homes sold between 100K and 120K with only 54 on the market holding the absorption rate to 20% for this price range. 

Continued Improvements were seen in the range between 200K and 250K with 44 on the market, 7 sold.  Even though that's only 15% per month, that's nearly twice as many as last month when only 4 sold.

Between 300 and 350K with 16 on the market, only 1 sold.  That's an absorption rate of 6.25 for this range (last month was 7%). 

Overall, there is not a really significant change in the percentage of homes sold in any range, but the number of homes on the market has dropped as well as the number of buyers.

With numbers like these, it's clear that it is still a good time to buy, and still a challenging time to sell in Hamblen County.

The data used to compile these figures was gathered from the listing and sales data provided to Realtors and Members of the Lakeway Area Association of Realtors in Morristown Tennessee.

Posted by

Dena Helms My Condo Connection

Village Real Estate

Comments (1)

Karen Kruschka
RE/MAX Executives - Woodbridge, VA
- "My Experience Isn't Expensive - It's PRICELESS"

Dena  Being in Virginia I can't comment on your statistics, but your post on Hamblen County is very well done and the work of a local professional

Jan 14, 2011 12:44 AM