Is Knox County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Knox County has remained a Seller's Market.
Housing Prices in Knox County, TN
How much do homes in Knox County, TN cost?
Median Sold Price
$367,342
$206/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Summary: The median home sold price in Knox County was $367,342 in March 2024, up 7.8% from last year, and the median price per square foot was $206.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $232.5K | +36.8% |
2 Bedrooms | $225K | $244.9K | +8.9% |
3 Bedrooms | $324.8K | $349.5K | +7.6% |
4 Bedrooms | $476.2K | $508.7K | +6.8% |
5+ Bedrooms | $674.9K | $685.8K | +1.6% |
Summary: Knox County housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 36.8%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 7.6%, 4 bedroom homes increased by 6.8%, and 5+ bedroom homes increased by 1.6%.
Median Sold Price Compared To Nearby Counties
Loudon County | $402.4K | $474.4K | +17.9% |
Anderson County | $288.6K | $320K | +10.9% |
Knox County | $340.7K | $367.3K | +7.8% |
Blount County | $352.9K | $374.5K | +6.1% |
Union County | $288.2K | $293.9K | +2.0% |
Housing Supply in Knox County, TN
How many homes are available in Knox County, TN?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
1,709 | 1,790 | +4.7% |
Summary: The Knox County real estate market had 1,790 homes for sale in March 2024, a 4.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 21 | 22 | +4.8% |
2 Bedrooms | 225 | 255 | +13.3% |
3 Bedrooms | 830 | 872 | +5.1% |
4 Bedrooms | 498 | 505 | +1.4% |
5+ Bedrooms | 135 | 136 | +0.7% |
Summary: The Knox County housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 4.8%, 2 bedroom homes increased by 13.3%, 3 bedroom homes increased by 5.1%, 4 bedroom homes increased by 1.4%, and 5+ bedroom homes increased by 0.7%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
417 | 525 | +25.9% |
Asking Price vs. Sold Price
273 Homes Were Sold
Under Asking
112 Homes Were Sold
At Asking
139 Homes Were Sold
Over Asking
Summary: A total of 525 homes were sold or pending in Knox County in March 2024, up by 25.9% month-over-month. Of the 524 sold homes, 52% were sold under asking, 21% were sold at asking, and 27% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
31 Days | 37 Days | +19.1% |
Summary: Homes in Knox County had an average of 37 days on market in Mar 2024, up by 19.1% compared to last year.
Breakdown of Home Sale Times
325 Homes Were Sold
Under 30 Days
118 Homes Were Sold
In 30 - 90 Days
82 Homes Were Sold
Over 90 Days
Summary: During March 2024, 525 homes were sold in Knox County; 62% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 16% of homes were sold over 90 days.