Is West 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, West Knoxville has remained a Seller's Market.
Key Takeaway
West Knoxville is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in West Knoxville, TN
How much do homes in West Knoxville, TN cost?
Median Sold Price
$350,000
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in West Knoxville have sold for 12.6% more than they did a year ago.
Summary: The median home sold price in West Knoxville was $350,000 in April 2024, up 12.6% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $193.7K | +25.0% |
| 2 Bedrooms | $238.2K | $261K | +9.5% |
| 3 Bedrooms | $315.8K | $344K | +8.9% |
| 4 Bedrooms | $562K | $550K | -2.1% |
| 5+ Bedrooms | $800K | $925K | +15.6% |
Summary: West Knoxville housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 9.5%, 3 bedroom homes increased by 8.9%, 4 bedroom homes decreased by 2.1%, and 5+ bedroom homes increased by 15.6%.
Housing Supply in West Knoxville, TN
How many homes are available in West Knoxville, TN?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 159 | 178 | +11.9% |
Summary: The West Knoxville real estate market had 178 homes for sale in April 2024, a 11.9% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 5 | +25.0% |
| 2 Bedrooms | 31 | 35 | +12.9% |
| 3 Bedrooms | 80 | 94 | +17.5% |
| 4 Bedrooms | 32 | 31 | -3.1% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The West Knoxville housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 25%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 17.5%, 4 bedroom homes decreased by 3.1%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 45 | 55 | +22.2% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
15 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in West Knoxville, you may be able to get a good deal. 41.8% of homes here sold below asking price last month.
Summary: A total of 55 homes were sold or pending in West Knoxville in April 2024, up by 22.2% month-over-month. Of the 55 sold homes, 42% were sold under asking, 27% were sold at asking, and 31% were sold over asking.
Days on Market for West Knoxville, TN
How long does it take to sell a home in West Knoxville, TN?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 18 Days | 25 Days | +34.0% |
Summary: Homes in West Knoxville had an average of 25 days on market in Apr 2024, up by 34% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
6 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in West Knoxville are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 55 homes were sold in West Knoxville; 78% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Greater Chattanooga Association of Realtors®. IDX information is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Copyright© 2024 Greater Chattanooga Association of REALTORS®.