November 2011 Numbers

Two homes in Sequoyah Hills transfered ownership in November.  The average price per square foot for these transactions was $111.  These were not closed in the Knoxville MLS, but were transfers done in our office that did not get reflected in the MLS as of this date.    In 2010,  two homes also were sold in the month of November with a price per square foot of $167.

We again are seeing the dramatic fluctuations in price per square foot when looking at a small sample size.  We're also starting to see the effects of the holidays taking hold.  Typically there are fewer homes sold in the months of November, December and January than any other three straight months combined.  As a seller, you need to be cognizant of the slowdown during the holidays and act and price accordingly.  There are still buyers out there - just not that many.  As a buyer, now is a great time to buy if you find the right house, because the competition is reduced and the sellers may be concerned they won't see an offer until spring.  Good Luck!

Rich