Farragut TN Real Estate Market Report January-June 2009

The Farragut TN area is located in the Western most portion of Knox County and is best known for its upscale homes, plethra of shopping areas (including Turkey Creek), greenways, easy lake access, and good schools.  The Farragut area is also lumped into the broad term of West Knoxville.  If you are thinking of Selling or Buying a home in Farragut area you may be interested in the 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.

So what does this all mean?  What this shows is that the Farragut TN subarea as a whole (all subarea and all prices) has an average of 10.91 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 Farragut TN contact us and we will glady provide you with a custom report.  

Interested in purchasing a home in the Farragut 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 Farragut Listing Notifier today. 

As you can see from the chart below the Farragut TN 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 7.33 months of inventory on the market.  This shows that currently the in Farragut, 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 $311,010 and sellers were able to get 96% of their list price.    

Keep in mind real estate is and always has been all about location, location, location.  There are some areas and price ranges within Farragut 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)

• Knox County- Market Overview
• North Knoxville
• East Knoxville
• Holston Hills / Chilhowee Park
• South Knoxville
• Norwood / Cumberland Estates / Pleasant Ridge
• Fountain City
• Halls
• Gibbs
• Carter
• South Doyle
• Westmoreland / West Hills / Riverbend / Sequoyah Hills
• Concord / Bluegrass
• Cedar Bluff
• Northshore / Choto
• Farragut City
• Lovell Road / Campbell Station 
• Hardin Valley
• Karns 
• Powell

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.

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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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