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Knoxville's December 2023 Market Update

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...

Dec 11 2 minutes read

General Overview

       The Knox County real state market has definitely cooled some as we approach winter. We are seeing some longer days on market for some homes, especially for the homes listed over 450,000 dollars, and we have seen a decrease in the average price of homes sold. Number of new listings has decreased as well, which is not non-typical as we approach the holiday season. 

       Inventory is still historically low, even more so than last month. It seems to be a trend as property owners do not seem to be upgrading or downsizing due to interest rates.  Buyers do have a few options currently for homes though, and currently builders are still producing spec homes which is helping inventory a little bit as well. 

December Market Update for Knoxville

606

New Listings

1069

Active Listings

539

Under Contract

527

Closed Sales


Homes Sold

97.4%

Sold-To-List-Ratio


 

$362,500

Average Sales Price

1.8

Months of Supply

20.6

Average Days on Market

Curious about how your home's value has changed?

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