The Knoxville area real estate market continues to post unbelievable numbers. Each week Knox News tracks market statistics that help illustrate what’s happening in residential and commercial real estate.
Home sales for the week of June 20
Here’s what the residential market looked like from June 20-26, according to data provided by the Knoxville Area Association of Realtors.
Inventory is up slightly, but the overall market remains highly competitive for buyers.
KAAR reports data from its 12-county region. However, these numbers are dominated by Knox County and the immediate area surrounding it.
Active listings, or number of listings on the market in the Knoxville Area during the time period: 1,956
New pending sales, or number of listings that went from active to pending during the time period: 554
Median days on market during the time period: 4
New listings added during the time period: 626
Median list price for new listings added during the time period: $289,900
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Transactions exceed $11 million
Knox County Register of Deeds Nick McBride records legal documents pertaining to real property. This week he reported 11 transactions worth more than $1 million.
Foreclosures and divisions of property are down from last year, while all aspects of sales and lending continue to climb at a healthy rate.
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Here’s a snapshot of business in Knox County through June 30.
- 2021: 45
- 2020: 83
- Percentage change: -45.78%
New subdivisions or divisions of property:
- 2021: 272
- 2020: 276
- Percentage change: -1.47%
Number of mortgages:
- 2021: 15,021
- 2020: 11,571
- Percentage change: 29.82%
Value of mortgages:
- 2021: $4,200,210,009
- 2020: $3,025,937,974
- Percentage change: 38.81%
Number of sales:
- 2021: 7,545
- 2020: 6,221
- Percentage change: 21.28%
Value of sales:
- 2021: $2,417,640,311
- 2020: $1,731,942,949
- Percentage change: 39.59%
Property sales by value for the week of June 30:
- More than $1 million: 11
- $900,000-$999,999: 1
- $800,000-$899,999: 4
- $700,000-$799,999: 3
- $600,000-$699,999: 8
- $500,000-$599,999: 11
- $400,000-$499,999: 31
- $300,000-$399,999: 57
- $200,000-$299,999: 95
- $100,000-$199,999: 63
- Up to $99,999: 32
Growth and development editor Brenna McDermott can be reached at [email protected] Follow along with her work on Twitter @_BrennaMcD. Support our local news efforts by becoming a Knox News subscriber.