I hope you find it useful. These market reports are updated weekly so you can be "ahead of the curve" as to the direction the housing market is headed.
This Week. The median list price in KNOXVILLE, TN this week is $175,000.
Inventory and days-on-market are both trending higher recently.
However, the improving Market Action Index implies some
increased demand will temper the negative trends.
Supply and Demand
Market Action Index as of May 24 2013 at 26.38. The market has shown some evidence of slowing recently. Both prices and inventory levels are relatively unchanged in recent weeks. Watch the Market Action Index for changes as it can be a leading indicator for price changes. The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies Seller's Market conditions. Below 30, conditions favor the buyer.
Price
Again this week we see a downward notch for prices. Prices continue to pull back from the market's highs. The Market Action Index is a good leading indicator for the durability of this trend. There are about 3,160 properties on the market in Knoxville as of May 24 2013
Steve Albin gives no-nonsense real estate advice to buyers and sellers most pressing questions. "Steve Albin is a Tennessee Real Estate Broker" and a "Certified Residential Specialists" The highest compliment for me, is for you to share this content with everyone you know who might benefit from the information. Thank you!
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