Is Knox County, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Knox County has remained a Seller's Market.
Key Takeaway
Knox County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Knox County, TN
How much do homes in Knox County, TN cost?
Median Sold Price
$369,505
$208/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Knox County have sold for 6.7% more than they did a year ago.
Summary: The median home sold price in Knox County was $369,505 in May 2024, up 6.7% from last year, and the median price per square foot was $208.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $175K | $236.2K | +35.0% |
| 2 Bedrooms | $228.6K | $249K | +8.9% |
| 3 Bedrooms | $325K | $349.8K | +7.7% |
| 4 Bedrooms | $481.1K | $506.6K | +5.3% |
| 5+ Bedrooms | $670.6K | $686.2K | +2.3% |
Summary: Knox County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 35%, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 7.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 2.3%.
Median Sold Price Compared To Nearby Counties
| Loudon County | $400.8K | $490K | +22.3% |
| Anderson County | $290.7K | $328.4K | +12.9% |
| Union County | $285K | $307K | +7.7% |
| Knox County | $346.2K | $369.5K | +6.7% |
| Blount County | $358.8K | $374.5K | +4.4% |
Housing Supply in Knox County, TN
How many homes are available in Knox County, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,111 | 2,132 | +1.0% |
Summary: The Knox County real estate market had 2,132 homes for sale in May 2024, a 1.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 32 | 29 | -9.4% |
| 2 Bedrooms | 306 | 304 | -0.7% |
| 3 Bedrooms | 994 | 1,008 | +1.4% |
| 4 Bedrooms | 601 | 592 | -1.5% |
| 5+ Bedrooms | 178 | 199 | +11.8% |
Summary: The Knox County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.4%, 2 bedroom homes decreased by 0.7%, 3 bedroom homes increased by 1.4%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes increased by 11.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 612 | 643 | +5.1% |
Asking Price vs. Sold Price
252 Homes Were Sold
Under Asking
171 Homes Were Sold
At Asking
218 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Knox County, you may be able to get a good deal. 39.3% of homes here sold below asking price last month.
Summary: A total of 643 homes were sold or pending in Knox County in May 2024, up by 5.1% month-over-month. Of the 641 sold homes, 39% were sold under asking, 27% were sold at asking, and 34% were sold over asking.
Days on Market for Knox County, TN
How long does it take to sell a home in Knox County, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 24 Days | 27 Days | +12.8% |
Summary: Homes in Knox County had an average of 27 days on market in May 2024, up by 12.8% compared to last year.
Breakdown of Home Sale Times
481 Homes Were Sold
Under 30 Days
100 Homes Were Sold
In 30 - 90 Days
56 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Knox County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 643 homes were sold in Knox County; 75% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 9% 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®.
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
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