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Farragut, TN Real Estate Market Update: April 2025 Trends for Buyers and Sellers

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Are you considering buying or selling a home in Farragut, Tennessee? This affluent Knoxville suburb continues to be one of the most desirable real estate markets in East Tennessee. With its combination of luxury homes, strong demand, and steady market trends, Farragut offers unique opportunities for both buyers and sellers.

In this April 2025 market update, we’ll dive into the latest data, trends, and insights to help you make informed real estate decisions.

Farragut Real Estate Market Overview

The Farragut housing market remains robust, with strong demand for premium properties. While there are slight signs of cooling, such as an increase in the absorption rate, the market still leans toward sellers. Here’s a breakdown of the key metrics as of April 2025:

1. Inventory and Absorption Rate

  • Active Listings: Around 100 properties, remaining stable.
  • Absorption Rate: Increased by 11.66% year over year to 2.49 months.

What This Means:

  • For Sellers: While the market remains strong, homes may take slightly longer to sell compared to last year. Competitive pricing and preparation are critical.
  • For Buyers: The slight rise in the absorption rate offers more room for negotiation compared to 2024, but the market is still competitive.

2. Pricing Trends

  • Average List Price: Increased by 4.27% to $868,857.
  • Median List Price: Declined by 5.53% to $721,743, indicating sellers are adjusting prices to match buyer expectations.
  • Average Sale Price: Increased by 12.49% to $767,214, reflecting strong demand for high-end homes.
  • Median Sale Price: Increased slightly by 1.37% to $664,000.

What This Means:

  • For Sellers: Luxury and high-end properties are in demand, but pricing competitively is essential to attract buyers quickly.
  • For Buyers: Rising sale prices indicate strong competition for quality homes. Act quickly on well-priced properties to avoid losing out.

3. Days on Market

  • Average Days on Market: Decreased by 25.53% to 35 days, showing homes are selling faster.
  • Median Days on Market: Increased by 50% to 6 days, suggesting some homes linger due to pricing or desirability.

What This Means:

  • For Sellers: Well-priced and prepared homes are selling quickly, while overpriced properties are taking longer to sell.
  • For Buyers: Competitive pricing is key—homes that are priced right move fast, so be ready to act decisively.

4. Sale-to-List Price Ratio

  • Sale-to-Original List Price: Just under 98%, indicating minimal concessions during negotiations.
  • Sale-to-Final List Price: Reflects similar trends, with homes selling close to their final list prices.

What This Means:

  • For Sellers: Pricing your home strategically from the start avoids the need for price reductions, helping ensure quicker sales.
  • For Buyers: Expect to pay near the asking price for desirable homes, as there is limited room for negotiation.

5. Price Volume Trends

  • Active List Volume: Increased slightly due to higher average list prices.
  • Sold Volume: Increased significantly, driven by higher average sale prices and steady demand.

What This Means:

  • For Sellers: Strong demand, particularly in the luxury market, means higher price points and faster sales.
  • For Buyers: Be prepared to act quickly and pay premiums for high-end properties.

Conclusions for Buyers and Sellers

For Sellers

  1. Strong Demand: Farragut remains a desirable market with rising sale prices and faster sales for well-prepared homes.
  2. Competitive Pricing: While the market favors sellers, overpriced homes may linger longer. Price strategically to attract buyers.
  3. Luxury Opportunities: High-end properties are in demand, with buyers willing to pay premium prices for desirable homes.

For Buyers

  1. Act Quickly: Homes are selling faster than last year, especially those priced competitively. Be prepared to move fast.
  2. Limited Negotiation: Expect to pay close to the asking price, as sellers maintain pricing power.
  3. Prepare for Premiums: The rise in average sale price highlights strong competition, particularly in the luxury segment.

Farragut Market Outlook

The Farragut real estate market remains robust, driven by strong demand for premium homes. While there are slight signs of cooling, such as the increase in absorption rate, the market still clearly favors sellers. Buyers should act decisively and be prepared for limited concessions, while sellers can capitalize on demand by pricing homes strategically and presenting them well.

Why Work with a Farragut Real Estate Expert?

Navigating the competitive Farragut housing market requires local expertise. Whether you’re buying or selling, working with a knowledgeable real estate professional ensures you make the most of your opportunities.

At Cornerstone Realty Associates, we specialize in Farragut real estate, offering personalized guidance to help you achieve your goals.

Ready to Buy or Sell in Farragut, TN? Contact Us Today!

📞 Phone: 865-999-0925
📧 Email: troy@865realestate.com
🌐 Website: 865realestate.com

Let’s make your real estate journey in Farragut a success!

Knoxville Buyers Are Finding More Space in the Luxury Home Market

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A year ago, additional space and extra amenities had a very different feel for Knoxville homebuyers. Today, the health crisis has brought to light how valuable more square footage and carefully designed floorplans can be. Home offices, multi-purpose rooms, gyms, and theaters are becoming more popular, and some families are finding the space they need for these upgrades in the luxury market.

The Institute for Luxury Home Marketing (ILHM) explains:

“With quarantine concerns still top of mind for many luxury buyers, we see large, sprawling estates making their comeback.

For instance, the last six months have seen a resurgence in the buying of mega mansions and estate-size homes – specifically properties that offer space (both inside and outside), separate home offices, gyms, and private amenities such as swimming pools, yoga studios, and recreation rooms.”

This was not the case at this time last year, as the most recent Luxury Market Report from ILHM emphasizes:

“Exactly one year ago, we reported that demand for large properties, mega mansions, private estates, and luxury ranches had reduced significantly over the previous few years; especially from the younger generation of luxury property buyers.”

For today’s buyers looking for larger homes in Knoxville, steady increases in equity might be what makes a move possible. Leveraging home equity makes it easier to afford the down payment on a luxury home, and current low interest rates are making mortgage payments more affordable than they have been in years. The report from ILHM also notes:

“Luxury real estate prices may continue to strengthen further into the third quarter, as the affluent continue to see large investment returns from the currently strong stock market.

Coupled with the low interest rates, the policies granting (and insisting) on working from home implemented by many employers, and the concerns of the pandemic, all translate to the affluent increasingly trading in their city lifestyle for a home that has it all.”

Clearly, today’s strong gains in home equity paired with record-low interest rates make fall a great time to move up into the Knoxville luxury market to meet those changing needs.

Bottom Line

If you’re ready to gain some breathing room in a larger home, let’s connect so you have the guidance you need to find more space in the Knoxville luxury home market.

VIDEO TOUR: Take a walk through 11468 Woodcliff Drive in Farragut!

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UNDER CONTRACT!
Beautiful, updated, 3 story home in the heart of Farragut at 11468 Woodcliff Drive, Knoxville, TN 37934. The super convenient location is minutes from shopping, parks, schools, the lake, and more. The interior of the home has a spacious kitchen featuring freshly updated quartz counters. The welcoming family room has space for friends and family and allows easy access to the expansive deck which overlooks the park-like backyard that was brought to life by the owner who is a master gardener. The 2nd level features 4 bedrooms and 2 additional baths, then venture up to the 3rd level for a large bonus room/or 5th bedroom and additional bath. The Inverness Subdivision features a clubhouse and community pool. Offered at $450,000.
Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 for more information or to schedule a private showing.

VIDEO TOUR: Take a walk through 616 East Fox Den Drive in Farragut!

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SOLD!
616 E FOX DEN DRIVE, KNOXVILLE, TN 37934. Offered at $385,000. This recently remodeled home located in Farragut’s Woodchase Subdivision is conveniently located 5-10 minutes from everything you might want or need. Restaurants, grocery stores, department stores, private (Fox Den) and public golf courses, hospitals, public parks, the library, lakes, and the interstate for a quick 20 minute jaunt to downtown Knoxville or a bit further to the mountains. Refreshed kitchen with new counters, appliances, and painted cabinets. New bathrooms with double vanities. New flooring. 2 newer (one brand new) HVAC units. Enjoy the large family room with stone fireplace or walk out to the screened porch overlooking the flat backyard. Separate office on the main level if you are working from home. Huge owner’s suite and 3 more bedrooms upstairs. EXTRA LARGE 2 car garage! As crazy as this market is, the OPEN HOUSE may be your only opportunity to see this home and make an offer. We hope to see you there!

Gorgeous Farragut Home located in Sweet Briar Subdivision

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SOLD! The Farragut home you’ve been looking for. 11447 Bancroft Lane, Knoxville, TN 37934. Incredibly convenient location in the Sweet Briar Subdivision has you minutes from the library, all Farragut Schools, Turkey Creek shopping, movies, and the interstate. You will be surprised with the extremely generous room sizes (room for beds and toys!). Main level features an open concept eat-in kitchen with granite counters galore that overlooks the family room with fireplace, along with a large office and dining room flanking the sun filled foyer. A short trip up the centrally located wood staircase gives you access to the 4 large bedrooms, one being a massive owner’s suite with bay window perfect for reading a book. Were not done yet! Up one more set of stairs in the hall and surprise.. a 3rd level bonus room perfect for a playroom, teen hangout, or man cave. In the back there is a patio for grilling and enjoying that great weather that is just around the corner, backed by an oversized, flat yard that is fenced on 3 sides. Add the 3 car garage and that makes this home everything that you need! Contact Troy Stavros with Gables & Gates, REALTORS at 865-999-0925 for more information.

827 Belle Grove Road, Knoxville, TN 37934 in Farragut’s Berkeley Park

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This Knoxville luxury home offered for sale is located at 827 Belle Grove Road, Knoxville, TN 37934 in Farragut’s Berkeley Park Subdivision and is chock full of old world charm.  The 3 levels of luxury living start with a European style exterior of brick and stone. Once inside you’ll enjoy a gourmet kitchen with Wolfe appliances and huge center island with granite countertops. Off the kitchen sits a inviting keeping room with a fireplace and beamed ceiling. This spot is perfect for entertaining with a butlers pantry and access to the deck overlooking a private back yard. Venture down to the lower level which has a media room, a bar, kitchenette, room for pool/game tables, a separate bedroom/bath, exercise room and plenty of extra storage. Upper level has a 2nd laundry room, hobby room, and additional bedrooms. For more information or to schedule a private showing of 827 Belle Grove Road, Knoxville, TN 37934 in Berkeley Park Subdivision, contact Troy Stavros with Gables & Gates, REALTORS at 865-999-0925.

This listing is no longer available.

 
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Troy Stavros
Gables & Gates REALTORS
865-999-0925
troy@gablesandgates.com