As I study the trends in the Knoxville housing market there are some interesting numbers that stand out. The sale of Knoxville luxury homes seem to be leading the way through April. When researching the SOLD and PENDING home data in the luxury price point we see some encouraging numbers.
- Homes SOLD between $400,000-$499,999 are up 29.1% year to date.
- Homes PENDING SALE between $400,000-$499,999 are up 53.8% year to date.
- Homes SOLD over $500,000 are up 13.8% year to date.
- Homes PENDING SALE over $500,000 are up 66.3% year to date.
The Knoxville home market is not alone with it’s trend of increases sales of Knoxville luxury homes. A recent study by Redfin showed that the sales of the most expensive, 1% of homes in the U.S. are up 21% so far this year, and saw a gain of 35.7% in 2013. Whether this is a sign of an improving economy or a result of moving money from lackluster investments into real estate, it is a good sign for sellers of Knoxville luxury homes.
If you are thinking of buying or selling a luxury home in Knoxville, contact me, Troy Stavros with Gables & Gates, REALTORS to discuss your goals and formulate a plan to achieve them.