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Knoxville MLS - August 2013 Market Trend Report

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Knoxville MLS - August 2013 Market Trend Report

  1. 1. AUGUST 2013KNOXVILLE MLS
  2. 2. MEDIAN SALES PRICE KNOXVILLE MLS The Median Price for all homes sold in August was $155,000, which is no change from the median price in July and 9% higher than the price in August 2012. AUGUST 2013 AUGUST 2012 $155,000 $142,000 9% AUGUST 2013 $155,000 $0 $20,000 $40,000 $60,000 $80,000 $100,000 $120,000 $140,000 $160,000 $180,000
  3. 3. CLOSED TRANSACTIONS KNOXVILLE MLS The Market Trend Report for August showed a 3% decrease in the number of Closed Transactions over July and an 3% decrease over sales in August 2012. 2013 MAY 2012 1,016 1,045 3% AUGUST 2013 AUGUST 2013 AUGUST 2012 1,016 0 200 400 600 800 1000 1200 1400
  4. 4. DAYS ON THE MARKET KNOXVILLE MLS The average Days on the Market for all homes sold in August was 115. This is 9 days less than the average in July and 5 days less than the average in August 2012. 4% 115 120 AUGUST 2013 AUGUST 2012 AUGUST 2013 115 105 110 115 120 125 130 135
  5. 5. MONTHS SUPPLY OF INVENTORY KNOXVILLE MLS The number of Months Supply of Inventory at the end of August was 5.6 which is a 11% decrease over July and a 51% decrease from August 2012. 5.6 11.4 51% AUGUST 2013 AUGUST 2013 AUGUST 2012 5.6 0.0 2.0 4.0 6.0 8.0 10.0 12.0 14.0 16.0
  6. 6. Description The Market Trend Report is distributed each month on or about the 15th. The Report is based on data provided by Terradatum from the local Knoxville Multiple Listing Service and is not annualized. While MLS and Terradatum data are believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Data for prior periods is not being recalculated for this report. Definitions Median Sales Price is the median price of all residential properties sold during the month. Closed Transactions are the number of residential transactions closed during the given month. Days on the Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (active inventory) divided by the number of sales contracts signed (pended) during the month).

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