Knoxville Market in a Minute

[Cory King]

If you're in the market to buy or sell right now it's helpful to know what kind of market we're working in locally. 

Here's a quick summary:

East Tennessee home sales saw a 6.3% increase from the previous month but were down 6.7% from a year ago. The median sale price rose to $350,000, reflecting a substantial 10.8% increase from the previous year.

Total housing inventory showed a notable 19.2% increase from a year ago which is much needed.

Half of the homes sold were under contract in 23 days or less, a slight increase from the previous month but a decrease from a year ago.

For sellers, 43.5% of homes sold for the asking price or above, with 21.5% selling for more than the asking price. Notably, 9% sold for at least $10,000 over asking, and 3.1% sold for at least $25,000 over asking.

The sale-to-list price ratio declined to 97.6%, down from 97.7% the previous month.

If you want to dive deeper into the numbers around a specific home or have any questions I'm always happy to nerd out