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January's 2024 Market Update Copy

Mark McCormick

Mark McCormick was born in Western Pennsylvania and has lived in East Tennessee since he graduated from Lebanon Valley College in 2004...

Mark McCormick was born in Western Pennsylvania and has lived in East Tennessee since he graduated from Lebanon Valley College in 2004...

Jan 8 2 minutes read

General Overview

       The Knox County real state market has continued to cool as we get deeper into winter. The number of new listings is down, total active listings are down, pending properties in the last 30 days are down, as is the number of homes closed. The days on market for homes is slightly higher as well, however, it is still low when compared to historical home sale data. This sounds like doom and gloom though much of this is seasonal. We are in a period of time where many sellers are preparing to sell as opposed to going active on the market. Demand remains extremely high for homes under $350,000, and properties with some acreage are also in high demand. Lastly, sold homes prices have remained very stable over the last 30 days with no major increases or decreases in the averages. 

January Market Update for Knoxville

456

New Listings

1032

Active Listings

449

Under Contract

485

Closed Sales


Homes Sold

96.9%

Sold-To-List-Ratio


 

$413,363

Average Sales Price

1.79

Months of Supply

24.7

Average Days on Market

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