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 March 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

$367,342

$206/sqft

Based on all homes sold in the last 12 months.

Difference Since March 2023

+$26,606(+7.8%)

Key Takeaway

Homes in Knox County have sold for 7.8% more than they did a year ago.

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

# BEDSMar 2023Mar 2024CHANGE
1 $170K$232.5K
+36.8%
2 $225K$244.9K
+8.9%
3 $324.8K$349.5K
+7.6%
4 $476.2K$508.7K
+6.8%
5+ $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
+17.9%
Anderson County
+10.9%
Knox County
+7.8%
Blount County
+6.1%
Union County
+2.0%

Housing Supply in Knox County, TN

How many homes are available in Knox County, TN?

Number of Homes For Sale

Feb 2024Mar 2024CHANGE
1,7091,790+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

# BEDSFeb 2024Mar 2024CHANGE
1 2122
+4.8%
2 225255
+13.3%
3 830872
+5.1%
4 498505
+1.4%
5+ 135136
+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 2024Mar 2024CHANGE
417525+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

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Knox County, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.

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 2023Mar 2024CHANGE
31 Days37 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

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 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.

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

Report Updated 18 Days Ago

Newest Listings in Knox County, TN

Nearby Markets to Knox County, TN

What housing markets are near Knox County, TN?