Are you wondering what’s happening in the Knoxville real estate market and across East Tennessee this November? As 2025 draws to a close, both buyers and sellers are facing a market that looks very different from the frenzied years of the recent past. Let’s dive into the latest housing market data for Knoxville and all of East Tennessee, so you can make informed decisions about your next move.
Knoxville and East Tennessee: Market Overview
The East Tennessee housing market and Knoxville’s real estate market are both cooling, but at different rates. Inventory is rising, homes are staying on the market longer, and buyers now have more negotiating power than at any time in recent years. If you’ve been waiting for the market to shift, now’s the time to pay close attention.
Key Similarities:
- Inventory is up in both Knoxville and the surrounding region.
- Homes are taking longer to sell.
- Buyers have more room to negotiate.
Key Differences:
- Knoxville’s market is cooling faster than the broader East Tennessee region.
Inventory & New Listings
Knoxville:
- Inventory up 25% year-over-year
- New listings down 8%
- Homes are sitting longer before selling
East Tennessee (Regional):
- Inventory up 15% year-over-year
- New listings down 2%
This means more choices for buyers in Knoxville, but also indicates that homes aren’t moving as quickly as before.
Closed & Pending Sales
- East Tennessee closed sales: Down just 0.3% (virtually flat)
- Knoxville closed sales: Down 14%
However, pending sales (homes under contract) are up:
- 18% regionally
- 9% in Knoxville
This shows that buyer activity is returning, but buyers are more selective, especially in Knoxville.
Home Prices: Median & Average
Knoxville:
- Median sales price: Down 6% to $385,000
- Average sales price: Down nearly 3%
East Tennessee:
- Median sales price: Down 3% to $365,000
- Average sales price: Up 4% (luxury/high-end sales remain strong)
Takeaway: Knoxville is seeing a broader correction across all price points, while high-end properties in the region are still performing well.
Days on Market (DOM)
Knoxville:
- Average DOM: Up 50% to 57 days
- Median DOM: Up 83%
East Tennessee:
- Average DOM: Up 27% to 71 days
- Median DOM: Up 37%
Despite the increases, Knoxville homes still sell faster than regional homes in absolute terms—but the rate of change is much steeper in Knoxville.
County-Level Highlights
- Roane County: Inventory up 28.4%, pending sales up 73.7%, median price down 8% ($287,000)
- Knox County: Inventory up 21.9%, pending sales up 9%, median price down 2.99% ($390,000)
- Anderson County: Inventory up 31.7%, pending sales up 50.9%, median price flat ($350,603)
- Loudon County: Inventory up 11.8%, pending sales up 31.9%, median price up 8.78% ($570,000)
- Sevier County: Inventory up 7.29%, pending sales down 4.93%, median price down 7.04% ($500,000)
- Blount County: Inventory up 4.8%, pending sales up 3.4%, median price flat ($376,250)
Note: Some counties see big month-to-month swings due to smaller sample sizes and varying property types.
Weekly Trends: A Deeper Look
- Median Sales Price: For the first time in five years, the weekly median in Knoxville is lower than the previous year.
- Active Listings: Highest in six years, even above pre-pandemic levels.
- Weeks of Supply: Highest since 2019 (16 weeks vs. 13 last year).
- Homes Sold: Near the lowest point in six years.
- New Listings: Highest for this week in six years.
- Days on Market: Highest in six years (72 days).
- Pending Sales: Second lowest in six years.
- Sale-to-List Price Ratio: Lowest in six years, indicating more negotiation and price reductions.
- Price Drops: Most in any of the past six years for this week.
Mortgage Rates and Market Opportunity
- Fed interest rate: Dropped 0.25% in November, but mortgage rates remain at 6.32% for a 30-year loan.
- If rates fall below 6%, expect more buyers to return to the market and possibly more sellers to list.
What Does This Mean for Buyers and Sellers?
For Buyers:
- More choices, more time, and more negotiating power.
- This is the best opportunity in years to buy in Knoxville or East Tennessee.
For Sellers:
- Price aggressively from day one.
- Overpriced homes will sit—there’s no longer a “hot market” safety net.
- Be prepared for more competition and negotiation.
Bottom Line
The Knoxville real estate market is normalizing after years of record growth and rapid sales. While there’s no “crash,” the market correction is real—especially in Knoxville, where inventory gains, price drops, and slower sales are more pronounced. The broader East Tennessee market is cooling but remains stable, with continued strength in luxury segments.
Whether you’re buying or selling, understanding your specific market is key.
If you have questions about your neighborhood, want to know your home’s value, or are thinking about buying in Knoxville or East Tennessee, reach out today. The right guidance can help you seize opportunities in this evolving market.
Ready to make your next move in East Tennessee? Contact Troy Stavros with Cornerstone Realty Associates for personalized advice and up-to-date market data.
