Is Knoxville, TN a buyer’s or seller’s market?

Housing Market Conditions



Gauge showing Knoxville is a seller's market


Difference Since November 2022

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



Based on all homes sold in the last 12 months.

Difference Since November 2022


Key Takeaway

Homes in Knoxville have sold for 25.9% more than they did a year ago.

Summary: The median home sold price in Knoxville was $352,585 in November 2023, up 25.9% from last year, and the median price per square foot was $204.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $175K$225K
2 $205.1K$240K
3 $289.1K$340.1K
4 $402.7K$495.2K
5+ $558K$642.8K

Summary: Knoxville housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 17%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 23%, and 5+ bedroom homes increased by 15.2%.

Median Sold Price Compared To Nearby Cities

Strawberry Plains

Housing Supply in Knoxville, TN

How many homes are available in Knoxville, TN?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE

Summary: The Knoxville real estate market had 1,695 homes for sale in November 2023, a 2.1% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 2614
2 244239
3 817798
4 500498
5+ 145146

Summary: The Knoxville housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes decreased by 46.2%, 2 bedroom homes decreased by 2%, 3 bedroom homes decreased by 2.3%, 4 bedroom homes decreased by 0.4%, and 5+ bedroom homes increased by 0.7%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE

Asking Price vs. Sold Price

172 Homes Were Sold
Under Asking

74 Homes Were Sold
At Asking

100 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Knoxville, you may be able to get a good deal. 49.7% of homes here sold below asking price last month.

Summary: A total of 352 homes were sold or pending in Knoxville in November 2023, down by 23.5% month-over-month. Of the 346 sold homes, 50% were sold under asking, 21% were sold at asking, and 29% 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

Nov 2022Nov 2023CHANGE
144 Days103 Days-28.2%

Summary: Homes in Knoxville had an average of 103 days on market in Nov 2023, down by 28.2% compared to last year.

Breakdown of Home Sale Times

1 Home Was Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

4 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Knoxville are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During November 2023, 352 homes were sold in Knoxville; 0% of homes were sold within 30 days, 1% of homes were sold within 30 to 90 days, and 1% 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 1 Day Ago

Newest Listings in Knoxville, TN

Nearby Markets to Knoxville, TN

What housing markets are near Knoxville, TN?