Knoxville Area Multiple Listing Home Sales 2009 Compared to 2008

Knoxville Area Home Sales

using statistics from the Knoxville Area Association of Realtors®

Provided by Cathy Glass, Realtor®

Realty Executives Associates, 865-693-3232

Average Price and Number of Homes Sold (does not include condos)

	Average Price	Number of Homes Sold
1st Quarter 2008	212,807	2399
4th Quarter 2008	170,662	2037
1st Quarter 2009	166,844	1700

As you can see, in the first quarter of this year, the price of a home in the Knoxville area dropped 21% from the first quarter 2008 and is 2.2% lower than the fourth quarter of 2008. The number of home sales in the first quarter of 2009 was 29% less than the number in the same time period in 2008. It was also 16.5% lower than sales in the fourth quarter of 2008.

Average Price and Number of Homes Sold, including condos

	Average Price	Number of Homes Sold
1st Quarter 2008	207,730	2736
4th Quarter 2008	180,956	2237
1st Quarter 2009	166,651	1857

If condos are included, the average sale price of a house or condo was 20% less in the first quarter of 2009 than it was in the first quarter of 2008. It also represents an 8% drop from the fourth quarter of 2008. The number of sales in the first quarter of 2009 were down 32% from the first quarter in 2008 and 17% from the fourth quarter of 2008.