2008 Oak Ridge Tennessee Market Study Third Quarter

Here are the numbers for the third quarter 2008 in Oak Ridge, Tennessee. The number of houses sold decreased by 11%, but it was a slight increase over the first quarter. The average sale price has actually increased each quarter this year, and the average days on market have reduced. The houses with 2000-2499, 3 bedroom, 2+ baths have been the most difficult to sell this year. In the third quarter, however, there was a drop in the price of those houses, and they sold quicker. The three best selling house sizes are:

• 1000-1499 sq. ft., 3 bedroom, one bath, but the price of those houses have dropped about 3%
• 1500-1999 sq. ft., 3 bedroom, two bath,but the price dropped 15% over the 2nd quarter
• 3000-3999 square foot house, those houses saw a 17.5% increase in average sale price