Coldwell Banker Report Ranks Mt Juliet as Most Expensive Real Estate Market in Tennessee

KNOXVILLE, Tenn. - Nov. 7, 2013 - PRLog -- Tennessee has three major divisions of West, Middle and East, but more than geography divides the many cities across the Volunteer state. Coldwell Banker Real Estate recently released its 2013 Home Listing Report (HLR), which ranked Mt. Juliet as the most expensive place to live in Tennessee.

According to the annual report, an apples-to-apples comparison of four-bedroom, two-bathroom homes in more than 1,900 real estate markets across the United States, a sample-sized home in the affluent Nashville suburb of Mt. Juliet lists for $254, 410, compared to $132,270 in Memphis.

“With all the attention Nashville has been getting lately, it makes sense that surrounding areas such as Mt. Juliet would be in high demand,” said Jim Wallace, CFO with Coldwell Banker Wallace & Wallace, Realtors® in Knoxville. “The area has grown a great deal in recent years, but it still has undeveloped land. Lakefront property options and the city’s central location within the state also contribute to its appeal for home buyers.”

Memphis was ranked as the most affordable real estate market in the 2013 Coldwell Banker® Home Listing Report, where an average four-bedroom, two-bathroom home lists for $132,270.

East Tennessee cities were moderately represented on the list. Knoxville, where an average four-bedroom, two-bathroom home lists for $220,607, ranked just below Mt. Juliet on the higher end of the scale. East Tennessee towns of Maryville and Powell also ranked toward the more expensive side while Johnson City, Cleveland and Kingsport ranked as more affordable real estate markets.

List of Tennessee's Top 5 Most Expensive Real Estate Markets & Average Listing Prices:

1. Mt. Juliet: $254,410

2. Knoxville: $220,607

3. Hendersonville: $218,174

4. Powell: $215,915

5. Maryville: $213,886

List of Tennessee's Top 5 Most Affordable Real Estate Markets:

1. Memphis: $132,270

2. Shelbyville: $142,562

3. Johnson City: $158,857

4. Dunlap: $161,873

5. Jackson: $168,841

*A list of the most expensive and affordable markets in each state can be viewed on the Home Listing Report website (http://hlr.coldwellbanker.com/SurveyStateList.html).

About Coldwell Banker, Wallace & Wallace, Realtors®

Coldwell Banker, Wallace & Wallace, Realtors® is East Tennessee’s leading real estate company. For 77 years CBWW has been the source for all things real estate in Knox, Anderson, Blount, and Loudon Counties. For more information about CBWW, visit http://www.cbww.com.