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April 2025 Knoxville & East Tennessee Housing Market Update: What Buyers and Sellers Need to Know

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Are you planning to buy or sell real estate in Knoxville or East Tennessee in 2025? With the latest housing market data in hand, you can make informed decisions that align with current trends in the area. In this market update, we’ll break down the key insights from April 2025, including inventory levels, price trends, and market conditions for both buyers and sellers.

Whether you’re a first-time buyer, seasoned investor, or a homeowner ready to sell, here’s everything you need to know about the Knoxville and East Tennessee real estate markets.

Knoxville Housing Market: Cooling but Still Favoring Sellers

The Knoxville housing market is showing signs of cooling, but it remains a slight seller’s market. Here are the latest stats comparing April 2025 to April 2024:

  • Home Sales: Down 15.4% year over year.
  • Pending Sales: Up 10.9%, showing steady buyer interest.
  • Inventory Growth: Up 61.4%, giving buyers more options.
  • Median Sales Price: Increased 4.94% to $404,000.
  • Average Price Per Square Foot: $234 per square foot.
  • Absorption Rate: Rose to 2.38 months, reflecting a slight shift toward balance but still favoring sellers.
  • Days on Market: Average days on market increased by 44.12% to 49 days, signaling a slower pace for home sales.

What This Means for Sellers in Knoxville

Sellers in Knoxville need to adapt quickly to changing conditions by pricing homes competitively and ensuring properties are well-prepared for listing. While prices are still rising, the increase in inventory and absorption rate indicates growing buyer leverage.

What This Means for Buyers in Knoxville

With more inventory and slower sales, buyers have greater negotiating power. However, desirable homes are still selling quickly. Acting decisively on well-priced properties is key to securing your dream home.

East Tennessee Housing Market: A Steady Transition Toward Balance

Compared to Knoxville, the East Tennessee market is transitioning more gradually, moving closer to a balanced market. Here’s the year-over-year data for April 2025:

  • Home Sales: Down 12.5% compared to April 2024.
  • Pending Sales: Up 13.7%, reflecting active buyer interest.
  • Inventory Growth: Up 39.4%, giving buyers more options.
  • Median Sales Price: Increased 6.23% to $375,000.
  • Average Price Per Square Foot: $227 per square foot.
  • Absorption Rate: Rose to 4.07 months, nearing a balanced market.
  • Days on Market: Average days on market increased by 16.98% to 62 days, while the median rose 53.33% to 23 days.

What This Means for Sellers in East Tennessee

Sellers in East Tennessee can take a more patient approach compared to Knoxville. With homes taking longer to sell, focusing on property presentation and strategic pricing is crucial. The market is nearing balance, but sellers can still benefit from price appreciation.

What This Means for Buyers in East Tennessee

Buyers have more time to evaluate properties as the market stabilizes. While the slower pace offers more flexibility, competitive pricing means there’s less room for dramatic discounts.

Key Trends Driving the Knoxville and East Tennessee Housing Markets

1. Growing Inventory Levels

Both Knoxville and East Tennessee are experiencing rising inventory levels, providing buyers with more options. However, Knoxville’s faster absorption rate increase (52.2% year over year) suggests a more rapid market adjustment compared to East Tennessee’s slower pace (29.25%).

2. Seasonal Market Upswing

Spring is the busiest time for real estate, and both markets are benefiting from seasonal demand. Pending sales have increased significantly in Knoxville, jumping from 488 in February to 666 in April, highlighting strong buyer activity.

3. Pricing Trends

  • Knoxville: Median sales price rose by 5.19% to $405,000, while the median list price declined by 3.25%. This suggests sellers are adjusting expectations to attract buyers.
  • East Tennessee: Median sales price increased 6.23% to $375,000, with a modest 1.24% rise in list prices. Sellers here are maintaining steadier pricing strategies.

4. Affordability Challenges

Rising prices and high mortgage rates (currently hovering around 6.92%) are creating affordability challenges for many buyers. The “lock-in effect” is also keeping some potential sellers on the sidelines, as 72% of homeowners with mortgages have interest rates below 5%.

County-Specific Market Insights

Here’s a quick overview of housing trends in surrounding East Tennessee counties:

  • Knox County: Inventory up 57.6%, pending sales up 12.2%, and median sales price up 7.08% to $401,547.
  • Roane County: Inventory up 29.3%, pending sales down 12.3%, and median sales price down 1.5% to $319,000.
  • Anderson County: Inventory up 37.6%, pending sales up 14%, and median sales price down 0.5% to $297,500.
  • Loudon County: Inventory up 65.8%, pending sales down 4.3%, and median sales price up 4.98% to $527,500.
  • Sevier County: Inventory up 18.1%, pending sales down 5.7%, and median sales price down 3.81% to $525,000.
  • Blount County: Inventory up 51.2%, pending sales up 19.6%, and median sales price up 6.84% to $406,000.

Opportunities and Challenges for Buyers and Sellers

For Sellers

  • Knoxville: Price your home competitively and prepare it well to stand out in a cooling market.
  • East Tennessee: Be patient with longer selling times, but focus on presentation and pricing to attract buyers.

For Buyers

  • Knoxville: Leverage increased inventory and negotiate strategically, but act quickly on desirable properties.
  • East Tennessee: Take advantage of a balanced market to explore more options, but don’t expect deep discounts.

National Market Context: How Knoxville and East Tennessee Compare

Nationally, the housing market is seeing more metro areas with falling home prices. However, Knoxville and East Tennessee continue to experience year-over-year price appreciation.

Despite low national home sales (near historic lows since 1995), East Tennessee’s resilience reflects strong local demand and steady market conditions.

Final Thoughts: Steady as She Goes

The Knoxville and East Tennessee housing markets are adapting to increased inventory and shifting buyer behavior. Knoxville is cooling faster, while East Tennessee’s transition is more gradual.

Whether you’re buying or selling, understanding these nuanced trends is key to making informed decisions. If you’re ready to take the next step in the Knoxville or East Tennessee real estate market, contact Troy Stavros with Cornerstone Realty Associates for expert guidance.

Looking to buy or sell in Knoxville or East Tennessee? Let’s make your real estate goals a reality. Reach out today for personalized advice and support!

Contact Troy Stavros, Cornerstone Realty Associates
📞 Phone: 865-999-0925
📧 Email: troy@865realestate.com

Luxury Golf Course Home for Sale | 412 Heathermoor Drive – Fox Den Country Club – Farragut TN

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412 Heathermoor Drive, Knoxville, TN 37934

$2,295,000
Property Type: Single Family Bedrooms: 5 Square Footage: 6,463 Lot Size (sq. ft.): 15,246 Status: Pending
Current Price: $2,295,000 List Date: 4/17/2025 Last Modified: 5/08/2025

Description

Welcome to your dream home, a true masterpiece of luxury and elegance nestled on the prestigious Fox Den Country Club Golf Course. Located in the sought-after Smithfield subdivision, this home offers an unparalleled lifestyle where tree-lined streets, friendly sidewalks, and meticulously kept yards create the perfect neighborhood atmosphere. Just 5 minutes from premier shopping, dining, top-rated schools, and healthcare, this property combines convenience with a serene retreat-like setting that feels worlds away. Boasting over 6,400 square feet, this home features 5 spacious bedrooms, 5 full baths, and 2 half baths, offering plenty of room for family and guests. Step through stately steel doors into a home designed for both comfort and grandeur. Gorgeous hardwood floors guide you through expansive spaces perfect for entertaining, including an oversized kitchen built for gathering and a breathtaking two-story great room highlighted by a floor-to-ceiling stone fireplace, just one of five fireplaces throughout the home. The main-level owner's suite is a private oasis, offering a grand retreat with luxurious finishes, including a spa-like bathroom with a steam shower that will leave you completely refreshed and rejuvenated. Upstairs and downstairs, you'll find additional bedrooms, bonus rooms, and flexible spaces to accommodate family, guests, or your creative pursuits. But the true crown jewel of this home awaits you out back. Step onto the enormous covered stone patio and take in the stunning views of the lush fairways, manicured greens, and shimmering lake. Host unforgettable evenings around the two outdoor stone fireplaces, or simply relax and soak in the beauty of your golf course-front sanctuary. This home is more than a residence, it's a lifestyle. With its timeless luxury, modern amenities, and unbeatable location, it's the perfect place to call home. Schedule your private tour today and make this extraordinary property your own.

More Information MLS# 1297070

Location Tax Legal Info

House #: 412 Street Name: Heathermoor St Suffix: Drive State/Province: TN Zip Code: 37934 PIN #: 142JM025 Subdivision: Smithfield Geo Lat: 35.883402 Geo Lon: -84.191309

Contract Info

Auction Y/N: No Listing Price: 2295000 Current Price: $2,295,000 Status: Pending Listing Date: 2025-04-12

General Property Description

Type: 2 Story Basement Acres: 0.35 Acre Source: Tax Records Site Built: Yes Restrictions: Yes SqFt - Total (Aprox): 6463 SqFt - Main Lvl: 3083 SqFt - Down Lvl: 1283 SqFt - 2nd Flr Lvl: 2097 # Bedrooms: 5 Baths - Full: 5 Baths - 1/2: 2 # of Rooms: 14 Fireplace: Yes # Fireplace: 5 Property Status: N/A HOA: Mandatory HOA Fee: 1650 HOA Freq: Yearly HOA Contact: Bob Cross Year Built: 1992 Bonus Room: Yes Extra Storage: Yes

Status Change Info

Status Change Date: 2025-05-08 Under Contract Date: 2025-04-21

Property Features

Style: Traditional Construction: Frame Siding: Stone; Synthetic Stucco Basement: Crawl Space; Finished; Plumbed; Walkout Lot Description: Cul-De-Sac; Golf Community; Golf Course Front; Irregular Lot; Level View: Golf Course; Lake View Fireplace: Gas Log; Stone; Wood Burning Floors: Carpet; Hardwood; Tile Fuel: Electric; Gas (Natural) Heat: Central; Forced Air Cooling: Ceiling Fan(s); Central Cooling Appliances: Central Vacuum; Dishwasher; Disposal; Gas Cooktop; Microwave; Range; Refrigerator; Security Alarm; Self Cleaning Oven; Smoke Detector Sewer: Public Sewer Water: Public Other Rooms: Addl Living Quarter; Basement Rec Room; Bedroom Main Level; Breakfast Room; Den/Study; Extra Storage; Family Room; Great Room; Laundry/Utility; Mstr Bdrm Main Level; Office; Split Bedroom Misc Features: Cathedral Ceiling(s); Internet Available; Kitchen Island; Pantry; Walk-in Shower; Walk-In Closet(s); Washer/Dryer Connect; Wired for Internet Exterior Features: Cable Available (TV Only); Irrigation System; Patio; Porch - Covered; Prof Landscaped; Windows - Insulated Dining Area: Breakfast Bar; Breakfast Room; Eat-in Kitchen; Formal Dining Area Community Amenities: Architect Restricted; Club House; Golf Course; Sidewalks; Swimming Pool Association Fee Incl: Some Amenities Showing: See Agent Instructns New Financing: Cash; Conventional; New Loan
Listing Office: CornerStone Realty Associates
Office Phone: 865-966-9700
Last Updated: May - 08 - 2025
412 Heathermoor Drive, Knoxville, TN 37934- MLS# 1297070
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
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Stunning Golf Course Estate in Farragut’s Exclusive Smithfield Subdivision

Welcome to your dream home—a true masterpiece of luxury and elegance nestled on the prestigious Fox Den Country Club Golf Course. Located in the sought-after Smithfield subdivision, this home offers an unparalleled lifestyle where tree-lined streets, friendly sidewalks, and meticulously kept yards create the perfect neighborhood atmosphere. Just 5 minutes from premier shopping, dining, top-rated schools, and healthcare, this property combines convenience with a serene retreat-like setting that feels worlds away. Boasting over 6,400 square feet, this home features 5 spacious bedrooms, 5 full baths, and 2 half baths, offering plenty of room for family and guests. Step through stately steel doors into a home designed for both comfort and grandeur. Gorgeous hardwood floors guide you through expansive spaces perfect for entertaining, including an oversized kitchen built for gathering and a breathtaking two-story great room highlighted by a floor-to-ceiling stone fireplace—just one of five fireplaces throughout the home. The main-level owner’s suite is a private oasis, offering a grand retreat with luxurious finishes, including a spa-like bathroom with a steam shower that will leave you completely refreshed and rejuvenated. Upstairs and downstairs, you’ll find additional bedrooms, bonus rooms, and flexible spaces to accommodate family, guests, or your creative pursuits. But the true crown jewel of this home awaits you out back. Step onto the enormous covered stone patio and take in the stunning views of the lush fairways, manicured greens, and shimmering lake. Host unforgettable evenings around the two outdoor stone fireplaces, or simply relax and soak in the beauty of your golf course-front sanctuary. This home is more than a residence—it’s a lifestyle. With its timeless luxury, modern amenities, and unbeatable location, it’s the perfect place to call home. Schedule your private tour today and make this extraordinary property your own.

MARCH 2025 – Knoxville Real Estate Market Trends: What Buyers and Sellers Need to Know

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The East Tennessee real estate market is evolving, with significant shifts that impact both buyers and sellers. Whether you’re looking to purchase your dream home or sell your property in Knoxville or the surrounding areas, understanding current market conditions is essential for making informed decisions.

The Knoxville Housing Market: By the Numbers

Recent data shows Knoxville’s real estate market is transitioning toward more balanced conditions after years of exceptional growth. As the #1 city for home price appreciation among the 100 largest US cities over the past seven years (with an impressive 98.13% increase), Knoxville now shows signs of stabilization.

Key market indicators reveal:

  • Increasing Inventory: Active listings have grown steadily, providing more options for buyers
  • Modest Price Growth: Median sale prices rose 4.79% year-over-year to $400,000, while average sale prices increased 6.21% to $477,733
  • Extended Selling Timeline: Average days on market increased by 21.62% to 45 days
  • Absorption Rate: Now at 2.12 months, up 35.90% from last year

What This Means for Sellers

If you’re considering selling your Knoxville home, these trends suggest several strategic approaches:

1. Competitive Pricing is Critical

With more homes available, pricing your property correctly from the start is essential. The data shows a slight decline in the sale-to-original-list price ratio, indicating buyers are negotiating more successfully. However, properties still sell at approximately 98% of their final list price after any adjustments.

2. Prepare for Longer Selling Periods

Homes are taking longer to sell compared to last year’s fast-paced market. Be prepared for an extended timeline and consider what improvements might help your property stand out among increased competition.

3. Quality Properties Still Command Premium Prices

Despite growing inventory, desirable homes in good condition continue selling at higher price points. Investing in strategic improvements and professional marketing can help your property attract quality offers.

What This Means for Buyers

The shifting market presents new opportunities for those looking to purchase in East Tennessee:

1. More Options and Less Pressure

With active listings increasing, buyers now have more properties to choose from and time to make decisions. This reduces the pressure of bidding wars that characterized previous years.

2. Negotiating Power

The longer days on market and declining sold-to-original-list price ratio create favorable conditions for negotiations. Buyers have more leverage to request concessions or negotiate on price.

3. Still a Strong Market

While conditions have improved for buyers, Knoxville remains a desirable market with steady appreciation. Don’t expect dramatic price drops – quality properties in sought-after areas still sell quickly and close to asking price.

Looking Ahead: Knoxville’s 5-Year Forecast

What can we expect for Knoxville real estate in the coming years? Based on economic indicators and demographic trends, experts project:

  • Continued appreciation of 14-20% over the next 5 years
  • Annual appreciation rates of 2.5-4%
  • Sustained growth in population and employment opportunities
  • Ongoing appeal to young professionals, families, and retirees

The factors that drove Knoxville’s remarkable past performance – including quality of life, relative affordability, economic diversification, and urban revitalization – continue to position the area favorably compared to other markets across the country.

Making Your Next Move in East Tennessee Real Estate

Whether buying or selling in this evolving market, working with a knowledgeable local real estate professional is more important than ever. From pricing strategies to negotiation expertise, experienced guidance can help you navigate these changing conditions successfully.

For personalized advice on your specific real estate goals in Knoxville or anywhere in East Tennessee, contact Troy Stavros with Cornerstone Realty Associates at 865-999-0925. With deep local market knowledge and a commitment to client success, Troy can help you make confident decisions in today’s market.

Knoxville & East Tennessee Housing Market Update February 2025: What Buyers & Sellers Need to Know

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The East Tennessee and Knoxville housing markets continue to evolve as we move through 2025. According to the latest February data compiled by Cornerstone Realty Associates, the region is showing signs of transitioning toward a more balanced market with some interesting variations across different counties. Here’s a comprehensive analysis of what’s happening in our local real estate market.

East Tennessee Housing Market Overview

When comparing February 2025 to February 2024, East Tennessee shows some notable trends:

  • Home sales: Down 8.5%
  • Pending sales: Up 1.4%
  • Inventory: Up significantly by 33.6%
  • New listings: Up 2.1%
  • Median sales price: $360,000 (up 1.84%)
  • Average price per square foot: $217
  • Absorption rate: 3.59 months (up from 3.58 months)

The absorption rate increase of 29.6% year-over-year suggests homes are taking longer to sell, gradually shifting the market toward a more balanced or buyer-friendly environment. While this indicates buyers now have more options and sellers face increased competition, prices remain relatively stable.

Days on market have increased steadily, now exceeding 65 days across East Tennessee. Though homes are taking longer to sell than last year, demand remains strong enough to sustain gradual price increases.

Knoxville Housing Market Data

The Knoxville metro area presents a somewhat different picture:

  • Home sales: Down 12.6%
  • Pending sales: Down 2.7%
  • Inventory: Up 39.7%
  • New listings: Up 0.2%
  • Median sales price: $408,500 (up 5.42%)
  • Average price per square foot: $230
  • Absorption rate: 2.01 months (down from 2.06 months)

Despite rising inventory, Knoxville remains a relatively competitive market with just 2 months of inventory (a healthy market is typically 4-6 months). With this low inventory level, prices are likely to remain stable or continue rising.

The sold-to-list price ratio remains high at over 97%, indicating homes are generally selling close to asking prices. While negotiation power has slightly increased for buyers, Knoxville continues to be a relatively strong market for sellers.

County-by-County Analysis

Knox County

  • Inventory up 39.8%
  • Pending sales down 4.9%
  • Median sales price: $400,600 (up 4.9%)
  • Price per square foot: $228

Knox County’s housing market is shifting toward a more balanced state with increasing inventory and longer selling times. The absorption rate has risen from 1.56 to 2.03 months, a 30.13% increase year-over-year.

Anderson County

  • Inventory up 34.3%
  • Pending sales up 8%
  • Median sales price: $324,900 (up 8.3%)
  • Price per square foot: $180

The absorption rate has increased from 1.87 to 2.47 months, indicating homes are taking longer to sell. While prices are rising, longer selling times suggest buyers have more leverage than before.

Blount County

  • Inventory up 36.4%
  • Pending sales up 34%
  • Median sales price: $380,000 (up 3.68%)
  • Price per square foot: $235

Blount County’s housing market is transitioning to a more balanced state. The absorption rate has increased from 2.37 to 2.84 months, suggesting homes are taking longer to sell.

Loudon County

  • Inventory up 68.1%
  • Pending sales up 15.9%
  • Median sales price: $417,000 (down 8.33%)
  • Price per square foot: $228

Loudon County is showing the most significant shift toward a buyer’s market. The absorption rate has surged from 2.4 to 3.81 months, a 58.09% increase year-over-year. Loudon County’s market is clearly shifting toward a more buyer-friendly environment.

Roane County

  • Inventory up 32.8%
  • Pending sales up 4.3%
  • Median sales price: $338,000 (up 6.46%)
  • Price per square foot: $179

The absorption rate has increased from 2.18 to 2.9 months, a 33.49% increase. This suggests homes are taking longer to sell, transitioning the market toward a more balanced environment.

Sevier County

  • Inventory up 20%
  • Pending sales down 12.5%
  • Median sales price: $540,000 (down 3.16%)
  • Price per square foot: $261

Sevier County is firmly in a buyer’s market with an absorption rate of 8.75 months, up from 6.58 months (a 32.98% increase). With high inventory and slower sales, buyers have significant negotiating power in this county.

Migration Patterns Affecting the Market

The report also highlights important migration trends affecting the local market:

  • Knox County: Net migration has returned to pre-pandemic levels (5.6 people per 1,000 residents)
  • Loudon County: Still seeing strong migration (27.3 people per 1,000)
  • Sevier County: More people are now leaving than arriving
  • Knoxville Metro Area: Still saw 9,661 net new residents in 2024

Overall, the region continues to attract new residents, though not at the peak levels seen in 2021-2022 when the Knoxville area saw over 18,000 net new residents.

Price Appreciation

Despite the shifting market, East Tennessee continues to see solid price appreciation:

  • Knox County: 2.7% increase year-over-year, 80.7% over five years
  • Loudon County: 2.9% increase year-over-year, 63.8% over five years
  • Anderson County: 6.6% increase year-over-year
  • Blount County: 4.9% increase year-over-year

The Knoxville metro area as a whole has seen a 73.2% price increase over the past five years.

Interest Rates and Market Outlook

Interest rates as of mid-March 2025 are at 6.78% for a 30-year loan, which remains relatively high compared to historical standards. The market analysis suggests that if rates drop below 6.5% and get closer to 6%, we could see a significant increase in demand.

What This Means for Buyers and Sellers

For Sellers:

  • Price competitively from the start to avoid extended market times
  • Be prepared for more negotiation than in recent years
  • Well-priced homes are still selling at strong values
  • Accurate pricing and strong marketing are essential in a shifting market

For Buyers:

  • More inventory means more choices and greater negotiation power
  • Longer days on market allows for better deal-making opportunities
  • Sellers are generally more flexible on pricing and closing terms
  • Well-priced homes in desirable areas still command competitive offers

Conclusion

The East Tennessee and Knoxville housing markets are transitioning toward a more balanced state, with significant variations by county. While inventory is rising and homes are taking longer to sell, prices remain relatively stable in most areas. Sevier and Loudon counties are showing the most significant shifts toward buyer’s markets, while Knoxville proper remains relatively competitive for sellers.

It’s important to remember that real estate is hyperlocal – conditions can vary dramatically between neighborhoods and even individual properties. A specific subdivision or property could defy overall market trends based on its unique characteristics and desirability.

If you’re considering buying or selling a home in East Tennessee, now is an excellent time to consult with a local real estate professional who can provide specific insights for your particular situation and location.

Move-In Ready Home for Sale in Knoxville, TN | Fully Renovated Near Turkey Creek!

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For Sale: 10612 Bitteroot Way, Knoxville, TN 37932

Nestled on a private wooded lot in a prime Knoxville location, this stunning one-level home has been fully updated from top to bottom! Conveniently located off Pellissippi Parkway near Turkey Creek Shopping, you’ll enjoy easy access to dining, shopping, and entertainment—all while coming home to your own peaceful retreat.

✨ Completely Renovated & Move-In Ready! ✨

Brand-New Upgrades Include:

✔ Modern Kitchen with sleek granite countertops and brand-new GE appliances
✔ New bathrooms with a beautifully tiled glass-enclosed shower and tub
✔ New flooring throughout for a fresh, stylish look
✔ New PEX plumbing for peace of mind
✔ New roof & attic insulation for energy efficiency
✔ New American Standard HVAC unit for year-round comfort
✔ Private rear deck—perfect for relaxing or entertaining
✔ Finished attached one-car garage for convenience

Designed for Comfort & Functionality:

🏡 One-level living with an open-concept kitchen
🛏 Split bedroom layout for added privacy
👗 Spacious walk-in closet in the primary suite
🌳 Private deck overlooking the serene wooded backyard

This home is truly move-in ready—just bring your furniture and start enjoying all the modern updates! Don’t miss out on this rare find in a fantastic Knoxville location.

📞 Schedule your showing today!

10612 Bitteroot Way, Knoxville, TN 37932

$310,000
Property Type: Single Family Bedrooms: 2 Square Footage: 902 Lot Size (sq. ft.): 6,970 Status: Closed
Current Price: $310,000 List Date: 3/16/2025 Last Modified: 4/01/2025

Description

✨ Completely Renovated & Move-In Ready! ✨ Nestled on a private wooded lot in a prime Knoxville location, this stunning one-level home has been fully updated from top to bottom! Conveniently located off Pellissippi Parkway with easy highway access to Downtown Knoxville and Oak Ridge and near Turkey Creek Shopping, so you'll enjoy easy access to dining, shopping, and entertainment—all while coming home to your own peaceful retreat. Brand-New Upgrades Include: ✔ Modern Kitchen with sleek granite countertops and brand-new GE appliances ✔ New bathrooms with a beautifully tiled glass-enclosed shower and tub ✔ New flooring throughout for a fresh, stylish look ✔ New PEX plumbing for peace of mind ✔ New roof & attic insulation for energy efficiency ✔ New American Standard HVAC unit for year-round comfort ✔ Private rear deck—perfect for relaxing or entertaining ✔ Finished attached one-car garage for convenience Designed for Comfort & Functionality: 🏡 One-level living with an open-concept kitchen 🛏 Split bedroom layout for added privacy 👗 Spacious walk-in closet in the primary suite 🌳 Private deck overlooking the serene wooded backyard This home is truly move-in ready—just bring your furniture and start enjoying all the modern updates! Don't miss out on this rare find in a fantastic Knoxville location. 📞 Schedule your showing today!

More Information MLS# 1292950

Location Tax Legal Info

House #: 10612 Street Name: Bitteroot St Suffix: Way State/Province: TN Zip Code: 37932 PIN #: 118BB024 Subdivision: Devanshire Geo Lat: 35.934915 Geo Lon: -84.139854

Contract Info

Auction Y/N: No Listing Price: 315000 Current Price: $310,000 Status: Closed Listing Date: 2025-03-11

General Property Description

Type: Ranch Acres: 0.16 Acre Source: Tax Records Site Built: Yes Restrictions: Yes SqFt - Total (Aprox): 902 SqFt - Main Lvl: 902 # Bedrooms: 2 Baths - Full: 2 # of Rooms: 4 Fireplace: No Property Status: N/A HOA: Mandatory HOA Fee: 95 HOA Freq: Monthly HOA Contact: Realty Resource Systems Year Built: 2001 Bonus Room: No

Status Change Info

Status Change Date: 2025-04-01 Under Contract Date: 2025-03-18 Sold Date: 2025-03-31 Sold Price: $310,000

Property Features

Style: Traditional Construction: Frame Siding: Brick; Vinyl Basement: Crawl Space Lot Description: Level; Wooded View: Wooded Fireplace: None Floors: Vinyl Fuel: Electric Heat: Central; Heat Pump Cooling: Ceiling Fan(s); Central Cooling Appliances: Dishwasher; Disposal; Microwave; Range; Refrigerator; Self Cleaning Oven; Smoke Detector Sewer: Public Sewer Water: Public Other Rooms: Bedroom Main Level; Family Room; Laundry/Utility; Mstr Bdrm Main Level; Split Bedroom Misc Features: Internet Available; Walk-in Shower; Walk-In Closet(s); Washer/Dryer Connect Exterior Features: Deck; Prof Landscaped; Windows - Insulated; Windows - Vinyl Dining Area: Kitchen/Dining Rm Co; Living Rm/Dining Rm Community Amenities: Lawn Care Association Fee Incl: Trash Showing: See Agent Instructns New Financing: Cash; Conventional; FHA; New Loan; VA Loan

Room Information

Family Room Kitchen Dining Room Master Bedroom Bedroom 2 Garage
Listing Office: CornerStone Realty Associates
Office Phone: 865-966-9700
Last Updated: April - 01 - 2025
10612 Bitteroot Way, Knoxville, TN 37932- MLS# 1292950
The data relating to real estate for sale on this Web Site comes from the IDX Program of the Knoxville Area Association of REALTORS® Multiple Listing Service. © Copyright 2020 All rights reserved. IDX information is provided exclusively for consumers' personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing, and that the data is deemed reliable but is not guaranteed accurate by the MLS. This information is updated weekly, however, some of these properties may subsequently have sold and may no longer be available. The Real Estate Broker providing this data believes it to be correct, but advises interested parties to confirm the data before relying on it in a purchase decision.
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Knoxville & East Tennessee Housing Market Update | January 2025 Real Estate Trends & Insights

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Are you planning to buy or sell a home in Knoxville, TN, or East Tennessee? Understanding the local housing market is essential to making informed decisions. Our January 2025 Knoxville and East Tennessee Housing Market Update provides the latest insights into market trends, pricing, and opportunities for buyers and sellers. Whether you’re navigating Knoxville’s competitive real estate market or looking at surrounding counties like Anderson, Loudon, or Sevier, this breakdown will help you stay ahead.

Knoxville Real Estate Market Trends – January 2025

The Knoxville housing market is cooling but remains stable, making it an intriguing time for both buyers and sellers. Here’s what you need to know:

  • Home Sales: Down 2.1% compared to January 2024.
  • Pending Sales: Virtually flat, down just 0.4%.
  • Inventory Growth: Up 23.8%, providing more options for buyers.
  • Median Sales Price: Slightly down by 0.95%, now at $391,250.
  • Absorption Rate: Dropped from 2.11 months in December to 2.01 months in January, showing continued demand despite seasonal cooling.
  • Days on Market: Increased to an average of 42 days, reflecting slower turnover.

What This Means for Buyers in Knoxville

  • Opportunities: With inventory growing and prices softening slightly, buyers have more options and negotiating power.
  • Focus Areas: Mid-range properties offer the best value, with motivated sellers and stable demand.

What This Means for Sellers in Knoxville

  • Challenges: Increased competition requires competitive pricing and excellent property presentation.
  • Opportunities: Well-priced homes continue to attract buyers, particularly in higher-value segments.

East Tennessee Housing Market Overview – January 2025

The East Tennessee real estate market, including counties like Anderson, Loudon, Sevier, and Blount, is cooling but resilient. Here’s a snapshot of the region:

  • Home Sales: Up 1.9% year-over-year.
  • Pending Sales: Increased by 11%.
  • Inventory: Up 26.2%, offering more opportunities for buyers.
  • Median Sales Price: Rose 2.91%, now at $360,193.
  • Absorption Rate: Down from 3.86 months (December) to 3.52 months (January), pointing to steady demand.

County-Specific Real Estate Trends

Loudon County

  • Inventory: Up 42.9%.
  • Pending Sales: Up 21.7%.
  • Median Sales Price: Up 21.11%, reaching $525,000.
  • Opportunities for Buyers: Increased inventory and longer days on market create room for negotiation, especially in mid-range price segments.
  • Challenges for Sellers: Homes must be competitively priced and well-prepared to attract buyers.

Sevier County

  • Inventory: Up 32.8%.
  • Pending Sales: Down 21%.
  • Median Sales Price: Down 4.51%, now at $540,000.
  • Opportunities for Buyers: This market is transitioning closer to a buyer’s market, offering great deals in mid-range properties.
  • Challenges for Sellers: Increased competition and declining prices require strategic pricing and marketing.

Blount County

  • Inventory: Up 41.3%.
  • Pending Sales: Up 41.5%.
  • Median Sales Price: Up 1.26%, now at $380,000.
  • Opportunities for Buyers: More inventory means more options and opportunities to negotiate better terms.
  • Challenges for Sellers: Growing competition requires top-notch presentation and pricing strategies.

Anderson County

  • Inventory: Down 8.9%.
  • Median Sales Price: Up 12.69%, now at $309,900.
  • Opportunities for Buyers: While inventory is tighter, the mid-range segment offers great value.
  • Challenges for Sellers: Lower inventory gives sellers leverage, but strategic pricing is still key.

Key Takeaways for Buyers

  1. Leverage Growing Inventory: With inventory increasing in most counties, buyers have more options and negotiating power.
  2. Focus on Mid-Range Properties: Many counties are seeing price corrections in this segment, making it an ideal time to secure value.
  3. Be Strategic: Work with a local real estate expert to identify the best deals and opportunities in Knoxville and East Tennessee.

Key Takeaways for Sellers

  1. Price Competitively: Increased competition means pricing your home realistically is essential to attract buyers.
  2. Prepare Your Home: Invest in staging, repairs, and presentation to stand out in a growing inventory pool.
  3. Be Patient: Homes are taking longer to sell, so be prepared for extended marketing times.

Why Real Estate in Knoxville and East Tennessee Remains Attractive

Despite cooling trends, the Knoxville and East Tennessee housing markets remain fundamentally healthy. Here’s why:

  • Resilient Prices: Sale prices are stable or increasing in many areas, especially in higher-value segments.
  • Stable Demand: Absorption rates remain relatively low, signaling ongoing buyer activity.
  • Opportunities for Both Buyers and Sellers: Whether you’re buying or selling, the current market offers strategic opportunities.

Conclusion: Navigating the Knoxville and East Tennessee Real Estate Market

The Knoxville and East Tennessee housing markets are transitioning toward balance, offering exciting opportunities for buyers and sellers alike. With growing inventory, longer days on market, and moderate price adjustments, now is the time to strategize your move.

For Buyers: Leverage increased inventory and negotiate better deals, especially in mid-range properties.
For Sellers: Focus on competitive pricing and property preparation to attract motivated buyers.

If you’re considering buying or selling real estate in Knoxville or East Tennessee, contact Cornerstone Realty Associates today. We’re here to provide expert guidance and help you make the most of this changing market.

FAQs About Knoxville Real Estate

1. Is Knoxville a buyer’s or seller’s market in 2025?

  • Knoxville remains a seller’s market due to low absorption rates, but buyers are gaining negotiating power as the market cools.

2. Are home prices dropping in Knoxville?

  • Median sales prices are slightly down but remain stable overall.

3. What are the best counties for buyers in East Tennessee?

  • Sevier County and Roane County offer great opportunities for buyers due to increasing inventory and price corrections.

4. Should I sell my home in Knoxville now?

  • Yes, but be prepared for increased competition. Pricing competitively and preparing your home well will be key to a successful sale.

Optimize your next real estate move in Knoxville and East Tennessee. Contact us today to get started!