Is South Knoxville, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$281,000
$237/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Summary: The median home sold price in South Knoxville was $281,000 in April 2024, up 12.4% from last year, and the median price per square foot was $237.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $295K | $359.9K | +22.0% |
2 Bedrooms | $236K | $246K | +4.2% |
3 Bedrooms | $250K | $292.5K | +17.0% |
4 Bedrooms | $299.5K | $300.8K | 0.4% |
5+ Bedrooms | $450K | $451K | 0.2% |
Summary: South Knoxville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 22%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 17%, 4 bedroom homes increased by 0.4%, 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
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
45 | 49 | +8.9% |
Summary: The South Knoxville real estate market had 49 homes for sale in April 2024, a 8.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 2 | 5 | +150.0% |
2 Bedrooms | 11 | 13 | +18.2% |
3 Bedrooms | 26 | 25 | -3.8% |
4 Bedrooms | 5 | 5 | 0.0% |
5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The South Knoxville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 150%, 2 bedroom homes increased by 18.2%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
Mar 2024 | Apr 2024 | CHANGE |
---|---|---|
14 | 22 | +57.1% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
9 Homes Were Sold
Over Asking
Summary: A total of 22 homes were sold or pending in South Knoxville in April 2024, up by 57.1% month-over-month. Of the 22 sold homes, 41% were sold under asking, 18% were sold at asking, and 41% 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
Apr 2023 | Apr 2024 | CHANGE |
---|---|---|
69 Days | 36 Days | -47.2% |
Summary: Homes in South Knoxville had an average of 36 days on market in Apr 2024, down by 47.2% compared to last year.
Breakdown of Home Sale Times
15 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Summary: During April 2024, 22 homes were sold in South Knoxville; 68% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.