Is South Knoxville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, South Knoxville has remained a Seller's Market.
Housing Prices in South Knoxville, TN
How much do homes in South Knoxville, TN cost?
Median Sold Price
$284,145
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in South Knoxville was $284,145 in May 2024, up 13.7% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $268.5K | $359.9K | +34.0% |
2 Bedrooms | $237K | $246K | +3.8% |
3 Bedrooms | $253K | $290K | +14.6% |
4 Bedrooms | $310K | $295.7K | -4.6% |
5+ Bedrooms | $450K | $451K | 0.2% |
Summary: South Knoxville housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 34%, 2 bedroom homes increased by 3.8%, 3 bedroom homes increased by 14.6%, 4 bedroom homes decreased by 4.6%, and 5+ bedroom homes increased by 0.2%.
Housing Supply in South Knoxville, TN
How many homes are available in South Knoxville, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
52 | 36 | -30.8% |
Summary: The South Knoxville real estate market had 36 homes for sale in May 2024, a 30.8% decrease compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 4 | 4 | 0.0% |
2 Bedrooms | 13 | 8 | -38.5% |
3 Bedrooms | 24 | 18 | -25.0% |
4 Bedrooms | 10 | 5 | -50.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Knoxville housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 38.5%, 3 bedroom homes decreased by 25%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
20 | 15 | -25.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 15 homes were sold or pending in South Knoxville in May 2024, down by 25.0% month-over-month. Of the 15 sold homes, 27% were sold under asking, 27% were sold at asking, and 47% were sold over asking.
Days on Market for South Knoxville, TN
How long does it take to sell a home in South Knoxville, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
9 Days | 37 Days | +284.3% |
Summary: Homes in South Knoxville had an average of 37 days on market in May 2024, up by 284.3% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During May 2024, 15 homes were sold in South Knoxville; 67% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.