The Knoxville Real Estate Market has no doubt seen better times and the past few years, while they have been a bit rocky, are not nearly as bad as one would think. Homes indeed are still selling, and Buyers in Knox County TN are still paying an average of 95% of list price for real estate in Knox County.
In July 2011 361 single family homes sold in Knoxville TN that were located in Knox County. The average listed home price that sold during July 2011 was $215,679 and the average closed price was $204,874, showing that homes are selling at 95% of list price.
The Knox County TN Condo/Planned Unit Development Market had 57 sales in July 2011. The average condo/PUD was listed for $176,605 and closed for $167,409, selling for 95% of sales price.
So how did this past July compare to July 2010?
In July 2010- 323 single family homes sold (sales for single family homes were up 11.76% when comparing July 2010 to July 2011) 83 Condos/Planned Unit Development homes sold (sales of Condos/PUDs were down 45% July 2011 compared to July 2010).
In summary, while sales may still not be where we would all like them to be the Knoxville TN real estate market is still healthy and in regards to single family home sales this year was better than last.
If you are thinking of buying or selling a home in the greater Knoxville TN area contact us and we will gladly supply you with a detailed market analysis for your specific area and price range.
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