865 Real Estate

East Tennessee Real Estate & Neighborhood Source

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

By

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

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

By

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.

Stunning Farragut Dream Pool Home with Backyard Oasis in Rockwell Farm!

By

436 Rockwell Farm Lane, Knoxville, TN 37934

$695,000
Property Type: Single Family Bedrooms: 4 Square Footage: 3,111 Lot Size (sq. ft.): 15,246 Status: Closed
Current Price: $695,000 List Date: 9/06/2024 Last Modified: 11/23/2024

Description

Welcome to your dream home, perfectly nestled in the heart of sought-after Farragut, TN. This beautiful 2-story residence offers 4 spacious bedrooms and a large bonus room that easily serves as a 5th bedroom, providing the perfect mix of comfort and flexibility. With 2.5 elegantly updated bathrooms, this home exudes modern charm. Step inside to an inviting open floor plan, where the family room's cozy fireplace is framed by custom built-ins, creating an atmosphere of warmth and relaxation. Hardwood floors grace most of the main level, leading to a kitchen with ample counter space, and an eat-in nook perfect for casual meals. For those who need space to work from home, the main level includes a large dedicated office, and when it's time to entertain, the formal dining room is the ideal setting. Take advantage of both front and rear staircases for easy access to the second floor. The backyard is an outdoor oasis. Imagine cooler evenings by the firepit, or summer days spent in the refreshing inground gunite pool, or hosting gatherings or eating alfresco on the spacious patio, with plenty of grassy areas left for play and relaxation. Recent updates include brand-new HVAC units installed in July 2024, ensuring year-round comfort. The extra-large driveway and 2-car garage offer ample parking and storage space. Zoned for all Farragut schools, this home is just minutes from shopping, dining, golf courses, and the lake. Downtown Knoxville is a quick 25-minute drive, and the majestic Smoky Mountains are only 45 minutes away.

More Information MLS# 1275388

Location Tax Legal Info

House #: 436 Street Name: Rockwell Farm St Suffix: Lane State/Province: TN Zip Code: 37934 PIN #: 151LE008 Subdivision: Rockwell Farm Geo Lat: 35.857567 Geo Lon: -84.208066

Contract Info

Auction Y/N: No Listing Price: 724000 Current Price: $695,000 Status: Closed Listing Date: 2024-09-04

General Property Description

Type: 2 Story Acres: 0.35 Acre Source: Tax Records Site Built: Yes Restrictions: Yes SqFt - Total (Aprox): 3111 SqFt - Main Lvl: 1607 SqFt - 2nd Flr Lvl: 1504 # Bedrooms: 4 Baths - Full: 2 Baths - 1/2: 1 # of Rooms: 10 Fireplace: Yes # Fireplace: 1 Property Status: N/A HOA: Mandatory HOA Fee: 325 HOA Freq: Yearly HOA Contact: RockwellFarmHOA.com Year Built: 2004 Bonus Room: Yes Extra Storage: Yes

Status Change Info

Status Change Date: 2024-11-23 Under Contract Date: 2024-10-20 Sold Date: 2024-11-22 Sold Price: $695,000

Property Features

Style: Traditional Construction: Frame - Brick Siding: Brick; Vinyl Basement: Slab Lot Description: Level; Rolling Slope View: Wooded Fireplace: Gas Log Floors: Hardwood; Tile Fuel: Electric; Gas (Natural) Heat: Central; Forced Air Cooling: Ceiling Fan(s); Central Cooling Appliances: Dishwasher; Disposal; Microwave; Range; Self Cleaning Oven; Smoke Detector Sewer: Public Sewer Water: Public Other Rooms: Den/Study; Extra Storage; Family Room; Laundry/Utility; Office; Split Bedroom Misc Features: Internet Available; Pantry; Walk-in Shower; Walk-In Closet(s); Washer/Dryer Connect Exterior Features: Irrigation System; Patio; Pool - Swim (Ingrnd); Prof Landscaped; Windows - Insulated Outbuildings: Storage Shed Dining Area: Eat-in Kitchen; Formal Dining Area Community Amenities: Architect Restricted; Club House; Sidewalks; Swimming Pool Association Fee Incl: All Amenities Showing: See Agent Instructns New Financing: Cash; Conventional; New Loan; VA Loan

Room Information

Family Room Dining Room Kitchen Office Master Bedroom Bedroom 2 Bedroom 3 Bedroom 4 Bonus Room Garage Utility Room
Listing Office: CornerStone Realty Associates
Office Phone: 865-966-9700
Last Updated: November - 23 - 2024
436 Rockwell Farm Lane, Knoxville, TN 37934- MLS# 1275388
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.
Search powered by FBS Products

Welcome to your dream home, perfectly nestled in the heart of sought-after Farragut, TN. Located at 436 Rockwell Farm Lane, Knoxville, Tennessee, this beautiful 2-story residence offers 4 spacious bedrooms and a large bonus room that easily serves as a 5th bedroom, providing the perfect mix of comfort and flexibility. With 2.5 elegantly updated bathrooms, this home exudes modern charm. Step inside to an inviting open floor plan, where the family room’s cozy fireplace is framed by custom built-ins, creating an atmosphere of warmth and relaxation. Hardwood floors grace most of the main level, leading to a kitchen with ample counter space, and an eat-in nook perfect for casual meals. For those who need space to work from home, the main level includes a large dedicated office, and when it’s time to entertain, the formal dining room is the ideal setting. Take advantage of both front and rear staircases for easy access to the second floor. The backyard is an outdoor oasis. Imagine cooler evenings by the firepit, or summer days spent in the refreshing inground gunite pool, or hosting gatherings or eating alfresco on the spacious patio, with plenty of grassy areas left for play and relaxation. Recent updates include brand-new HVAC units installed in July 2024, ensuring year-round comfort. The extra-large driveway and 2-car garage offer ample parking and storage space. Zoned for all Farragut schools, this home is just minutes from shopping, dining, golf courses, and the lake. Downtown Knoxville is a quick 25-minute drive, and the majestic Smoky Mountains are only 45 minutes away. Have questions? Want to schedule a tour? Need to your your home sold or help finding a home? Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today.

February 2024 Farragut, TN Real Estate Market Update: Expert Insights for Buyers & Sellers

By

CLICK HERE TO SEE ALL HOMES FOR SALE IN FARRAGUT, TENNESSEE

The Farragut, Tennessee, real estate market has presented a mixed bag of trends as of February 2024, offering unique opportunities and challenges for both buyers and sellers. Troy Stavros from Cornerstone Realty Associates brings us an in-depth analysis of the market dynamics, revealing essential insights that can guide your real estate decisions in this picturesque locale.

Farragut Home Sales and Prices on the Rise

Despite a slight 3.8% decrease in home sales compared to last year, the Farragut market has shown signs of heating up with a 33.3% increase in pending sales. This indicates a growing interest among buyers as we edge closer to the spring selling season. Notably, the median sales price has surged by 33.81% to $679,150, accompanied by an average sold price per square foot of $238. This upward trend in pricing is reflective of a strong demand, underscored by the significantly low inventory levels with an absorption rate of 1.85 months.

Inventory and Listings

A Seller’s Advantage The inventory of homes has seen a 22.2% increase, coupled with a 30.6% rise in new listings. This expanded inventory, while still low, presents a favorable scenario for sellers, offering them leverage due to the persistent demand. The market remains in a slight seller’s domain with the market action index at 42, signaling that prices are continuing to climb.

What’s Selling in Farragut?

The diversity in the Farragut market is evident from the sales distribution across various price ranges. The most sales were recorded in the $400,000 to $450,000 and $750,000 to $800,000 brackets, each with four sales. Pending sales were notably active in the $450,000 to $500,000, $350,000 to $400,000, and $650,000 to $700,000 price ranges. The highest inventory available falls in the $650,000 to $700,000 range, with 12 homes for sale, indicating a broader selection for buyers in this segment.

Insights for Buyers in Farragut

For buyers, the current market conditions suggest a competitive landscape, especially in the lower price segments, which are moving quickly with the lowest days on the market. With median days on market at 42 days, down from 77 at the beginning of February, buyers must act swiftly to secure properties in this fast-paced market. The varied inventory and new listings across different price points offer opportunities for buyers to find homes that meet their preferences and budget.

Tips for Sellers in Farragut

Sellers in Farragut are in a favorable position, thanks to the low inventory and high demand, especially in the lower price segments. To capitalize on this market, sellers should consider pricing their homes competitively, particularly if they are in the high-demand price ranges. Highlighting the unique features and value of their properties can also attract more buyers, especially as the market action index suggests a slight seller’s market.

Conclusion

The Farragut, Tennessee, real estate market is vibrant and evolving, with significant opportunities for both buyers and sellers. Whether you’re looking to purchase your dream home or sell your property at a premium, understanding the current market trends and dynamics is crucial. For personalized advice and the latest market updates, consider reaching out to a local real estate expert like Troy Stavros at Cornerstone Realty Associates. Call or text Troy at 865-999-0925.

CLICK HERE FOR ACCESS TO MY WEEKLY FARRAGUT MARKET REPORT. (Never miss a beat, search for ANY city and/or zip of interest, and click “Subscribe” to receive an update each week.)

Remember, whether buying or selling, staying informed about the latest market trends in Farragut is key to making well-informed real estate decisions. For more insights and updates, keep an eye on the market and consult with professionals who can guide you through the intricacies of the Farragut real estate landscape.

Farragut, Tennessee Housing Market Update: December 2023 (plus a year end review)

By 

A Year in Review: Insights into Farragut's Real Estate Dynamics

As 2023 draws to a close, the Farragut, Tennessee, real estate market presents a unique landscape for buyers, sellers, and homeowners. This video provides a synthesized overview of market trends, offering valuable insights as we head into 2024.

Current Market Trends in Farragut
Farragut's housing market in December 2023 shows some distinct trends:

Price Adjustments: There's been a notable trend in home prices throughout the year, either trending upwards or showing signs of stabilization.

Inventory Fluctuations: The availability of homes in Farragut has either increased, suggesting a buyer's market, or decreased, indicating a seller's market.

Sales Velocity: The time homes spend on the market in Farragut might have changed, affecting how quickly sellers can expect to close a deal.

Implications for Market Participants

For Prospective Buyers: This information is crucial for those looking to purchase a home in Farragut. It can guide you in making timely decisions and negotiating the best deals.

For Sellers: Sellers can use these insights to strategize their sales approach, from pricing to marketing their property.

For Current Homeowners: Stay informed about your property’s value and the overall health of the Farragut real estate market.
Forecast for 2024

Looking ahead, the Farragut housing market is expected to continue evolving. Potential buyers and sellers should stay informed about market conditions to make the most of their real estate investments.

Conclusion
Farragut's real estate market remains dynamic and attractive for various real estate activities. Whether you're buying, selling, or just keeping an eye on the market, staying up-to-date with the latest trends is crucial. For more personalized advice or detailed market insights in Farragut, contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today.

Unlocking Opportunities: Exploring the Modern Era of Adjustable-Rate Mortgages

By

Cast your mind back to the real estate turbulence of 2008, a time when adjustable-rate mortgages (ARMs) commanded the spotlight. Fast forward to today, and ARMs are experiencing a resurgence in popularity among both seasoned homeowners and first-time buyers. Let’s delve into the reasons behind this shift and lay to rest any concerns it might evoke.

A visual representation of data from the Mortgage Bankers Association (MBA) serves as our guide, illustrating the gradual rise in the prevalence of adjustable-rate mortgages over recent years:

As the graph demonstrates, the landscape shifted from approximately 3% of all mortgages in 2021 to a notable increase in ARMs usage last year. The rationale behind this uptick is quite straightforward. With mortgage rates undergoing a significant climb, homeowners found solace in the ARMs option. The allure was simple: ARMs provided a way to secure lower interest rates in a climate where conventional borrowing costs were peaking.

Now, let’s debunk any misconceptions right away – the ARMs of today are not the same as the ones that contributed to the 2008 housing crisis. A pivotal factor behind that crisis was the lax lending standards prevailing at the time. Borrowers could obtain ARMs without substantiating their employment, income, or assets – a recipe for financial instability. This approach landed many homeowners in hot water, as they grappled with loans they were never truly qualified for.

In this iteration, lending standards have undergone a transformation. The financial sector has heeded the lessons from history, implementing stringent verification procedures for income, assets, and employment. In essence, modern-day borrowers are required to qualify for their loans, establishing their capacity to repay.

Archana Pradhan, an Economist at CoreLogic, elucidates the evolution:

“About 60% of Adjustable-Rate Mortgages (ARM) originated in 2007 were granted with minimal or no documentation… Similarly, in 2005, 29% of ARM borrowers had credit scores below 640… At present, nearly all conventional loans, including both ARMs and Fixed-Rate Mortgages, mandate comprehensive documentation, amortization, and are extended to borrowers with credit scores above 640.”

To make this crystal clear, let’s put it in layman’s terms, as described by Laurie Goodman at Urban Institute:

“The Adjustable-Rate Mortgages available today carry no more risk than other mortgage products, and their lower monthly payments could potentially widen access to homeownership for a larger pool of prospective buyers.”

For those concerned that today’s ARMs might resemble the previous crisis triggers, take comfort in knowing that the dynamics have shifted significantly this time around.

And for those venturing into the realm of homeownership for the first time, seeking viable lending options to navigate today’s affordability challenges, consider reaching out to a trusted lender. They stand ready to guide you through the intricate landscape of modern real estate financing.”