Is Knox County, TN a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Knox County is a seller's market

Buyer's
Market

Difference Since October 2023

Since last year, Knox County has remained a Seller's Market.

Key Takeaway

Knox County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Knox County, TN

How much do homes in Knox County, TN cost?

Median Sold Price

$379,739

$211/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

+$24,328(+6.8%)

Key Takeaway

Homes in Knox County have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Knox County was $379,739 in October 2024, up 6.8% from last year, and the median price per square foot was $211.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $225K$243.7K
+8.3%
2 $240K$250K
+4.2%
3 $337.7K$355.1K
+5.2%
4 $498.7K$515.1K
+3.3%
5+ $677.7K$700.4K
+3.4%

Summary: Knox County housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.3%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 5.2%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 3.4%.

Median Sold Price Compared To Nearby Counties

Anderson County
+11.7%
Loudon County
+8.8%
Knox County
+6.8%
Blount County
+3.9%
Union County
+3.4%

Housing Supply in Knox County, TN

How many homes are available in Knox County, TN?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2,1732,152-1.0%

Summary: The Knox County real estate market had 2,152 homes for sale in October 2024, a 1.0% decrease compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 2428
+16.7%
2 333323
-3.0%
3 9831,005
+2.2%
4 641618
-3.6%
5+ 192178
-7.3%

Summary: The Knox County housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 16.7%, 2 bedroom homes decreased by 3%, 3 bedroom homes increased by 2.2%, 4 bedroom homes decreased by 3.6%, and 5+ bedroom homes decreased by 7.3%.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
539506-6.1%

Asking Price vs. Sold Price

277 Homes Were Sold
Under Asking

122 Homes Were Sold
At Asking

102 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Knox County, you may be able to get a good deal. 55.3% of homes here sold below asking price last month.

Summary: A total of 506 homes were sold or pending in Knox County in October 2024, down by 6.1% month-over-month. Of the 501 sold homes, 55% were sold under asking, 24% were sold at asking, and 20% were sold over asking.

Days on Market for Knox County, TN

How long does it take to sell a home in Knox County, TN?

Average Sale Time

Oct 2023Oct 2024CHANGE
20 Days31 Days+59.6%

Summary: Homes in Knox County had an average of 31 days on market in Oct 2024, up by 59.6% compared to last year.

Breakdown of Home Sale Times

324 Homes Were Sold
Under 30 Days

141 Homes Were Sold
In 30 - 90 Days

39 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Knox County are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 506 homes were sold in Knox County; 64% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 20 Days Ago

Newest Listings in Knox County, TN

Nearby Markets to Knox County, TN

What housing markets are near Knox County, TN?