Wondering if it is still a good time to buy? One of the most common questions I hear from buyers is “how much house can I get for my money”? Last quarter (04/01/2012-06/30/2012) the Knoxville Area Association of Realtors reported there were 1541 active single family residential homes and condos for sale in the KAAR Multiple Listing Service during that period in the $140-$160 thousand dollar range. Of those 1541 properties 242 homes and 39 condos sold during the second quarter. Throughout Knox County the average square footage in that price range was 1754 and average closed sales price was $148,379 (average of $85 per square foot).
Right now if your target budget is around $150, 000 you have exactly 247 homes and 67 condos to choose from in ALL of Knox County. Folks are buying in that price range as there are currently 62 homes and condos under contract between $140-$160 thousand dollars. With that said, with low mortgage rates and a good selection of properties, now is still a good time to buy in Knoxville, but you better get going because the market has started to move again!
So what do you have to choose from around Knoxville?
- North Knoxville: 12 single family homes and 4 condos with houses ranging from 1250-2650 square feet; primarily historic properties, most of these homes are 3 bed 2 bath and are classified as basement ranch homes.
- South Knoxville: 6 single family homes and 2 condos with houses ranging from 1250-3150 square feet; most of these homes are 3 bed 2 bath and half are in Colonial Village.
- Westmoreland/West Hills: 7 single family homes and 4 condos with houses ranging from 1200-2350 square feet; majority of houses are ranch style houses.
- Fountain City: 22 single family homes and 1 condo with houses ranging from 1300-3100 square feet; mix of newer and older homes, with two thirds of the houses having a 3 bed 2 bath configuration.
- East Knoxville: 3 single family homes and zero condos ranging from 1600-2800 square feet; mix of newer and older construction, most are 4 bed 2 bath configuration.
Looking now and need a good buyers’ agent? Tell me about your dream home… I would love to help! Please feel free to use the Real Estate Property Search feature on my website, or Schedule a Showing.
Are you wondering what is involved in buying a home? Request your free copy of my Home Buyer’s Guide Book by completing the information below. Just hit submit to instantly receive the Download link and an additional copy will be delivered to your email. I promise I do not spam.
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Here’s a sample of homes in that price point:
[idx-listings city=”Knoxville” minprice=”140000″ maxprice=”160000″ propertytypes=”1259,1262″ orderby=”DateAdded” orderdir=”DESC” count=”10″]
Post by Shannon Foster-Boline