1952 Oakleigh Way

4 Bedrooms | 5 Full Baths | 2 Half Baths | 8,628 sq. ft. | 2.15 Acres | Built 2010

As part of the process of determining a reasonable offering price for the home at 1952 Oakleigh Way, I have analyzed the sales data for comparable homes from September of 2021 through today. This search was limited to homes priced above $2,000,000 and located in a geographic area radiating 10 miles out from River Bend peninsula. I have also analyzed quarterly sales data for all homes sold in the Knoxville area back to the beginning of 2019.

Knoxville Home Sales Data

Since the beginning of 2019, sales prices for all homes sold in the Knoxville real estate market have risen steadily, other than a slight drop during 2020. While there are indications that the trend is turning downward, the average sales price is still more than 100% of listing price. For homes that sold for $2,000,000 or more in the geographic area described above, the trend has mostly been upward. This quarter, however, the average has dipped down to 94%.

All homes

Homes ≥ $2m

Comparable Listings

Listed below are the homes that have closed in the past year that I deem most comparable to 1952 Oakleigh Way. I believe an evaluation of these homes, their features, and their sales prices affirms an offer below the current asking price. Based on the sales data for the past year, comparable homes are selling for approximately 94% of their list price. This rate would result in a sales price of $3,125,500 for 1952 Oakleigh Way.

1800 Lyons Bend

Sold Price: $2,635,000
Sold Date: June 8, 2022
Original List Price: $2,995,000 (88%)
List Price: $2,800,000 (94%)
Days on Market: 214
Bedrooms: 5
Square Feet: 8,366
Price/SF: $315
Year built: 1995
Distance: 0.93 miles
Lot Size: 5.3 acres
Similarities: Location, size
Pros: Larger lot, No HOA dues, 7 garage spaces
Cons: 15 years older, lower quality finishes

3011 Keller Bend

Sold Price: $4,250,000
Sold Date: July 15, 2022
Original List Price: $4,500,000 (94%)
List Price: $4,500,000 (94%)
Days on Market: 0
Bedrooms: 6
Square Feet: 8,772
Price/SF: $484
Year built: 2001
Distance: 5.33 miles
Lot Size: 2.19 acres
Similarities: Quality of finishes, size, lot size, walk-out basement opening up to pool area
Pros: Waterfront property, No HOA dues
Cons: 9 years older, not as updated

801 Gettysvue Drive

Sold Price: $2,500,000
Sold Date: July 18, 2022
Original List Price: $2,600,000 (96%)
List Price: $2,600,000 (96%)
Days on Market: 28
Bedrooms: 6
Square Feet: 8,116
Price/SF: $308
Year built: 2005
Distance: 5.51 miles
Lot Size: 0.82 acres
Similarities: Quality of finishes, size, age, elevator
Pros: Completely updated, HOA dues $1280 lower annually
Cons: 5 years older, smaller lot, ~500 SF smaller, sits close to road, 3 garage spaces

10215 Thimble Fields

Sold Price: $2,435,000
Sold Date: February 23, 2022
Original List Price: $2,599,000 (94%)
List Price: $2,599,000 (94%)
Days on Market: 197
Bedrooms: 6
Square Feet: 8,621
Price/SF: $282
Year built: 1997
Distance: 7.26 miles
Lot Size: 1.81 acres
Similarities: Size, lot size, walk-out basement
Pros: Waterfront property, HOA dues $1,000 lower annually
Cons: 13 years older, slightly smaller lot

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