Holston Hills/Chilhowee Area Market Snapshot- Knoxville TN Real Estate

Holston Hills/Chilhowee, TN Market Snapshot- January 1, 2009- July 31, 2009

 These statistics show homes located in the Holston Hills/Chilhowee subarea that had a list price of $100,000-$140,000.

Closed Listings- 5 ($120, 920 Avg. List Price / $116,220 Avg. closed price: Avg. Sq feet= 1642, and 1.15 acre lots) = Avg. price/sq foot = $77 / square foot

Closed Price/List Price- $= Sellers are selling at 96.11% of list price (closing costs may be rolled in)

Current Active Listings- 6

Current Pending Listings- 3

Expired or Withdrawn (did not sell during listing period) - 10

 Absorption Rate:

 The absorption rate is a statistical estimate based on the number of properties actively on the market verses the number of closed properties. This number shows the rate at which the inventories of homes for sale are being sold.  The absorption rate helps determine, based on market trends, how many months it will take to absorb (aka- for homes to sell and close) what is currently on the market.

 

Absorption Rate for last 6 months = 8.5 months worth of inventory

 

Absorption Rate based on last month of sales

• 1 Closed properties last month
• 6 Active Listings

 

Absorption Rate = 6 months worth of inventory

Analysis:

• The housing market in the Chilhowee/Holston Hills area is slightly improving as the absorption rate has decreased some this past month.
• Knoxville, TN historically experiences cyclical season-based selling cycles, with the months of June-September having the highest number of sales.
• First time home buyer tax credit expires November 30 (avg. closing time for FHA is 45 days now) = target date to be under contract is October 15^th

 

All data is derived from the Knoxville Association of REALTORS® and does not include non-MLS sales.  Information is deemed to be reliable, but not guaranteed.

 

Visit us online at www.HomesForSaleKnoxville.com,  www.KnoxvilleReal-Estate.com, www.KnoxvilleHomeExpert.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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