$2,850 Closing Credit*
$240,000
930 SqFt
2 Beds
•1 Full Bath, 1 Partial
Listing Office: Realty Executives Associates
Is Knoxville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Knoxville has remained a Seller's Market.
Key Takeaway
Knoxville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Knoxville, TN
How much do homes in Knoxville, TN cost?
Median Sold Price
$376,023
$211/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$25,141(+7.2%)
Key Takeaway
Homes in Knoxville have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Knoxville was $376,023 in October 2024, up 7.2% from last year, and the median price per square foot was $211.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $212K | $243.7K | +15.0% |
| 2 Bedrooms | $240K | $250K | +4.2% |
| 3 Bedrooms | $337.1K | $355.6K | +5.5% |
| 4 Bedrooms | $490.9K | $500K | +1.8% |
| 5+ Bedrooms | $657.6K | $666.4K | +1.3% |
Summary: Knoxville housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 5.5%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 1.3%.
Median Sold Price Compared To Nearby Cities
| Strawberry Plains | $337.5K | $400K | +18.5% |
| Farragut | $650.6K | $699.9K | +7.6% |
| Powell | $339.9K | $365K | +7.4% |
| Knoxville | $350.8K | $376K | +7.2% |
| Alcoa | $298.9K | $286K | -4.3% |
Housing Supply in Knoxville, TN
How many homes are available in Knoxville, TN?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 1,836 | 1,831 | -0.3% |
Summary: The Knoxville real estate market had 1,831 homes for sale in October 2024, a 0.3% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 24 | 28 | +16.7% |
| 2 Bedrooms | 307 | 285 | -7.2% |
| 3 Bedrooms | 833 | 863 | +3.6% |
| 4 Bedrooms | 523 | 517 | -1.1% |
| 5+ Bedrooms | 149 | 138 | -7.4% |
Summary: The Knoxville 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 7.2%, 3 bedroom homes increased by 3.6%, 4 bedroom homes decreased by 1.1%, and 5+ bedroom homes decreased by 7.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 450 | 444 | -1.3% |
Asking Price vs. Sold Price
245 Homes Were Sold
Under Asking
104 Homes Were Sold
At Asking
91 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Knoxville, you may be able to get a good deal. 55.7% of homes here sold below asking price last month.
Summary: A total of 444 homes were sold or pending in Knoxville in October 2024, down by 1.3% month-over-month. Of the 440 sold homes, 56% were sold under asking, 24% were sold at asking, and 21% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 20 Days | 31 Days | +58.8% |
Summary: Homes in Knoxville had an average of 31 days on market in Oct 2024, up by 58.8% compared to last year.
Breakdown of Home Sale Times
285 Homes Were Sold
Under 30 Days
122 Homes Were Sold
In 30 - 90 Days
35 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Knoxville are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 444 homes were sold in Knoxville; 64% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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