What I learned sitting on both sides of the REO assignment

In Knoxville the Gazette counts 1,994 active listings; the median asking price there is $400,000, and 55 days listed. 32 cuts to the asking price and no increases were recorded in Knoxville this edition. The Knoxville page lists every home there.

Beside it, Chattanooga has 40 active listings and a median asking price of $360,000, $40,000 lower than Knoxville's. Per square foot the median asks $214 in Chattanooga against $234 in Knoxville, so Chattanooga is lower; the median lot is 0.22 acres in Chattanooga against 0.27 acres in Knoxville, so Knoxville has more land. Also nearby, Maryville has 408 active listings and a median asking price of $449,900, $49,900 higher than Knoxville's. Per square foot the median asks $230 in Maryville against $234 in Knoxville, so Maryville is lower; the median lot is 0.7 acres in Maryville against 0.27 acres in Knoxville, so Maryville has more land. Every figure is an asking price from the same edition.

For the market as a whole, 12,391 listings are active, and the median asking price is $348,900. Per square foot, the median asks $236. The median home has been listed 79 days. The by-the-numbers page sets out every city, with the charts.

This is edition No. 13, counting from Nov 4 to Nov 5: 140 new listings came on, 147 price cuts were recorded, no price increases were recorded, and 122 listings left the active market.