Four homes in Sequoyah Hills transfered ownership in October. The average price per square foot for these transactions was $185 as per information in the Knoxville MLS. In 2010, only two homes were sold in the month of October with a price per square foot of $151. This type of fluctuation from month to month and year to year underscores how the housing market is really made up of many smaller markets based on location, size, condition and price. Depending on who is looking at a particular time sometimes the lower priced fixer-uppers are selling, or sometimes it's the high-priced renovated homes that are moving. These different "markets" can really make the price per square foot fluctuate in a neighborhood like Sequoyah Hills.
The good news is that we track this over time to give our clients a really good idea as to how these statistics shift. While the numbers might jump up or down on a month to month basis, the 12 month rolling average tends to be a bit more stable. Please contact us if you'd like some more information about where the neighborhood is, where it's been, and where it might be heading as it relates to real estate prices.