Troy Stavros - Housing Market Report

Knoxville, TN 37923

Single-Family Homes

CornerStone Realty Associates | Broker | 865-999-0925


Knoxville, TN 37923

Sun May 19 2024
This week the median list price for Knoxville, TN 37923 is $439,800 with the market action index hovering around 55. This is an increase over last month's market action index of 54. Inventory has increased to 33. Click here to stay informed with the Knoxville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Knoxville, TN 37923

Sun May 19 2024
This week the median list price for Knoxville, TN 37923 is $439,800 with the market action index hovering around 55. This is an increase over last month's market action index of 54. Inventory has increased to 33. Click here to stay informed with the Knoxville market!

Market Action Index

This answers “How’s the Market?” by comparing rate of sales versus inventory.

Strong Seller's Market

In the last few weeks, the market has been at a stasis point in terms of sales to inventory. However, prices seem to continue to fall a bit. Technically supply levels indicate this is a Seller’s market so it is likely that the downward pricing pressure will be light or variable. Watch for an up-shift in the MAI before price stability is achieved.

Real-Time Market Profile

Never miss important changes in the Knoxville market.
Median List Price $439,800
Median Price of New Listings $463,500
Per Square Foot $214
Average Days on Market 74
Median Days on Market 49
Price Decreased 67%
Price Increased 6%
Relisted 3%
Inventory 33
Median Rent
Market Action 55
Strong Seller's Market

Again this week in this zip code we see a downward notch for prices. Pricing has been weak in recent weeks and versus their absolute-high level. At this point, we will be looking for a persistent upward shift in the Market Action Index as a leading indicator for a trough in prices.

Market Segments

Each segment below represents approximately 25% of the market ordered by price.

Median Price Sq. Ft. Lot Size Beds Bath Age New Absorbed DOM
$694,499 3,005 0.25 - 0.5 acre 4 3 25 1 0 31
$482,000 2,274 0.25 - 0.5 acre 4 2.5 37 1 0 49
$422,450 2,159 0.25 - 0.5 acre 3 2.5 38 1 0 49
$337,500 1,494 4,500 - 6,500 sqft 3 2 41 1 0 49