EAST TN Market Update

[Cory King]

• East Tennessee home sales increased 8.9% from the previous month, but were down 1.4% from a year ago.
• The median sale price was $354,000 — up 10.3% from the previous year.
• Total housing inventory increased from the previous year – up 24.0% from a year ago.
• Half of the homes sold were under contract in 28 days or less, up from 25 days a year ago.
• 45% of homes sold for the asking price or above, with 21% selling for more than the asking price. 8% sold for at least $10,000 over asking and 2.6% sold for at least $25,000 over asking.
• The sale-to-list price ratio increased to 97.8% – up from 97.6% last month.
• New construction represented 16.5% of total home sales.

If you want to dive deeper into some numbers in the Knoxville and surrounding area I'm always happy to nerd out.