Concord / Bluegrass Market Report Jan-June 2009

By
Real Estate Agent with The McInerney Team with Realty Executives Associates 313389

The Concord / Bluegrass subarea of Knoxville  TN area is located right in the middle of what is commonly referred to as West Knoxville in Knox County and is best known for its' friendly suburban feel, good schools, centrally located and convenient location, close proximity to area lakes (Lake Loudon), slew of area parks, and good shopping.  The Concord / Bluegrass area in nestled between the Northshore / Choto, Farragut, Westmoreland, Cedar Bluff subareas and many of the homes in the Northshore / Choto area are zoned for Bluegrass, AL Lotts, or Farragut Elementary, West Valley or Farragut Middle, and Bearden or Farragut High School.  If you are thinking of Selling or Buying a home in Concord / Bluegrass area you may be interested in this recent market report.

Please note that these stats that I will be showing below are taken from the Knoxville Association of Realtors® and include only single family residence homes that are/or have been listed in the Knoxville MLS.  Also, for comparison purposes I am only using data taken from January 1, 2009 to June 30, 2009.

Active Listings

177

Closed Listings (1/1/09-6/30/09)

150

Absorption Rate
(1/1/09-6/30/09)

7.08

So what does this all mean?  What this shows is that the Concord/Bluegrass  TN subarea as a whole (all subarea and all prices) has an average of 7.08 months of inventory- showing an overall healthy real estate market.  The absorption rate will vary by price range and specific properties (i.e. # of bedrooms, # of bathrooms, and square footage).  If you are thinking of Selling a home in the Bluegrass/Concord area contact us and we will gladly provide you with a custom report.

Interested in purchasing a home in the Concord/Bluegrass area then contact us to set up a free listing notifier to be the first to see the hottest listings.  There are some spectacular homes for sale right now and many home owners who can't afford to have their home sit on the market for 7+ months are pricing their homes to sell.  Sign up for a Concord/Bluegrass Listing Notifier today

As you can see from the chart below the Concord/Bluegrass area has seen an increase in the number of closed sales in the past month, compared to the past 6 month average.  As a result there is currently about 5.53 months of inventory on the market.  This shows that currently the in Bluegrass / Concord subarea, as a whole is a Sellers Market, the inventory is decreasing and homes priced right are selling in less than 6 months.  The average closed price during June 2009 was $316,836 and sellers were able to get 93% of their list price.    

Current Active Listings

177

Closed Listings
(6/1/09-6/30/09)

32

Absorption Rate
(6/1/09-6/30/09)

5.53


Keep in mind real estate is and always has been all about location, location, location.  There are some areas and price ranges within Concord / Bluegrass that have improved significantly while others have not changed too much.  Please click on the designated subareas below for data specific to each Knox County TN subarea.

Knox County Subareas (click on a subarea to view Market area stats specific to each subarea)

If you are considering Selling your Knoxville area home Christine McInerney and Jennifer Halinkowski with Keller Williams Realty Knoxville TN will gladly provide you with a Free Comparative Market Analysis (CMA) as well as subdivision and area specific market data.  Contact us by phone at (865)237-5289 or via e-mail at info@HomesForSaleKnoxville.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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Rainmaker
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Richard Acree
HABITEC Home and Building Inspections, LLC - Franklin, TN
Home Inspections - Nashville TN

Hello Christine and Jennifer,

What a great post!  It seems you are working in a great market with a bright future.  HABITEC has had a good summer here in Middle Tennessee and we're seeing continuation into the fall.  I am optimistic about an even better 2010. 

Richard Acree

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Comments in this blog posting are the copyrighted intellectual property of Richard Acree, President, HABITEC Home and Building Inspections, LLC, and contributing members of the Active Rain Real Estate network, and are intended to educate and otherwise assist home owners, sellers and buyers, building owners, sellers and buyers, realtors, real estate investors, property managers, and lenders in the process of owning, buying or selling homes or commercial buildings.  HABITEC is a residential (home) and commercial building inspection company serving Middle Tennessee including Nashville, Brentwood, Franklin, Murfreesboro, Smyrna, Mt. Juliet, Hendersonville, Dickson, Belle Meade, Columbia, Spring Hill and more!  In addition to building inspections HABITEC offers Environmental Services for mold assessments, radon testing and water quality analysis.  Additional information about HABITEC can be found on our website at www.habitecinspections.com, or call 615-376-2753. 

Richard Acree is the author of the HABITEC Home and Building Inspections Blog and founder of the ActiveRain Group Tennessee Home and Building Inspectors.  All are welcome to join and see more blogs like this one. 

 

Sep 26, 2009 08:38 PM #1
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Rainmaker
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Christine McInerney

The McInerney Team, Knoxville TN Homes For Sale
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