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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Knoxville is a seller's market

Buyer's
Market

Difference Since November 2021

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.

How much do homes in Knoxville, TN cost?

Median Sold Price

$262,839

$186/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$42,918(+19.5%)

Key Takeaway

Homes in Knoxville have sold for 19.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 $159K$177.5K
+11.6%
2 $170K$205K
+20.6%
3 $225.1K$275K
+22.2%
4 $314.1K$375K
+19.4%
5+ $532K$482.5K
-9.3%

Median Sold Price Compared To Nearby Cities

Powell
+20.7%
Knoxville
+19.5%
Farragut
+15.0%
Alcoa
+13.6%
Strawberry Plains
+7.5%

How many homes are available in Knoxville, TN?

Number of Homes For Sale

Oct 2022Nov 2022%
747699-6.4%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 611
+83.3%
2 195171
-12.3%
3 364345
-5.2%
4 148141
-4.7%
5+ 3431
-8.8%

Number of Homes Sold

Oct 2022Nov 2022%
227185-18.5%

Asking Price vs. Sold Price

89 Homes Were Sold
Under Asking

40 Homes Were Sold
At Asking

56 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. 48.1% of homes here sold below asking price last month.

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

About Knoxville, TN

Homes for sale in Knoxville, TN have reached 699. The number of listings in Knoxville, TN decreased by 6.4% between October 2022 and November 2022. Listing prices have changed in this real estate market between October 2022 and November 2022: 1 bedroom properties became 11.6% more expensive, prices of 2 bedrooms properties went up by 20.6%, prices of 3 bedrooms properties increased by 22.2%, prices of 4 bedrooms properties increased by 19.4%, prices of 5 bedrooms properties decreased by 9.3%. Volume of homes for sale in this real estate market have seen the following changes: the quantity of 1 bedroom homes went up by 83.3%, number of 2 bedrooms homes decreased by 12.3%, 3 bedrooms homes became 5.2% less available, the quantity of 4 bedrooms homes went down by 4.7%, the quantity of 5 bedrooms homes went down by 8.8%. Over 56 listings were sold over their listed price in November 2022 in Knoxville, TN. In the same period over 89 listings were sold below the listed price and 40 listings were sold for the listed price.

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