Wanna Buy a Foreclosure?

Each week, Knoxville realtor and real estate blogger Suzy Trotta extrapolates a "Foreclosure Watch" for local properties from Knoxville Area Association of REALTORS data. Her focus isn't doom and gloom, but rather how much a person could expect to pay to buy a foreclosed property. Here's her summation for the week of July 15, which does not include condos:

  • Current on-market listings: 205
  • Average asking price: $133,656
  • Median asking price: $85,000
  • Most expensive new listing: $720,000 (4 BR, 4.5 BA, 4,800+ sq. ft. in River Club)
  • Least expensive new listing: $12,000 (2 BR, 1 BA, 1,000 sq. ft. off Asheville Hwy.)
  • Closed sales July 8-14, 2009: 10
  • Average asking price: $78,920
  • Average sales price: $73,900
  • Median sales price: $50,750
  • Average days on market: 56

Source: Suzy Trotta at allaroundktown.com for Knox County single-family residential properties.