Is Knoxville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Knoxville has remained a Seller's Market.
Housing Prices in Knoxville, TN
How much do homes in Knoxville, TN cost?
Median Sold Price
$365,665
$207/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in Knoxville was $365,665 in April 2024, up 9.1% from last year, and the median price per square foot was $207.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $237.2K | +39.6% |
2 Bedrooms | $225K | $246.9K | +9.7% |
3 Bedrooms | $324.9K | $349.7K | +7.6% |
4 Bedrooms | $469.7K | $500K | +6.4% |
5+ Bedrooms | $649.2K | $650K | 0.1% |
Summary: Knoxville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 39.6%, 2 bedroom homes increased by 9.7%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 6.4%, and 5+ bedroom homes increased by 0.1%.
Median Sold Price Compared To Nearby Cities
Strawberry Plains | $313K | $348.2K | +11.3% |
Knoxville | $335.2K | $365.6K | +9.1% |
Alcoa | $267.3K | $279.5K | +4.5% |
Powell | $334.9K | $349.9K | +4.5% |
Farragut | $658.5K | $668K | +1.5% |
Housing Supply in Knoxville, TN
How many homes are available in Knoxville, TN?
Number of Homes For Sale
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
1,654 | 1,709 | +3.3% |
Summary: The Knoxville real estate market had 1,709 homes for sale in April 2024, a 3.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 25 | 32 | +28.0% |
2 Bedrooms | 255 | 283 | +11.0% |
3 Bedrooms | 804 | 808 | 0.5% |
4 Bedrooms | 457 | 463 | +1.3% |
5+ Bedrooms | 113 | 123 | +8.8% |
Summary: The Knoxville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 1.3%, and 5+ bedroom homes increased by 8.8%.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
491 | 495 | +0.8% |
Asking Price vs. Sold Price
223 Homes Were Sold
Under Asking
120 Homes Were Sold
At Asking
149 Homes Were Sold
Over Asking
Summary: A total of 495 homes were sold or pending in Knoxville in April 2024, up by 0.8% month-over-month. Of the 492 sold homes, 45% were sold under asking, 24% were sold at asking, and 30% were sold over asking.
Days on Market for Knoxville, TN
How long does it take to sell a home in Knoxville, TN?
Average Sale Time
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
25 Days | 30 Days | +16.1% |
Summary: Homes in Knoxville had an average of 30 days on market in Apr 2024, up by 16.1% compared to last year.
Breakdown of Home Sale Times
356 Homes Were Sold
Under 30 Days
82 Homes Were Sold
In 30 - 90 Days
55 Homes Were Sold
Over 90 Days
Summary: During April 2024, 495 homes were sold in Knoxville; 72% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.