865 Real Estate

East Tennessee Real Estate & Neighborhood Source

Almost Half of the Homes Sold in Farragut in March were CASH or At or Above List Price!

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Almost 1/2 (45%) of the homes sold so far in March in Farragut have been for cash or at/above their listing price (some both). We saw some sell for over $100K above their list price! I go over these sales in the video along with the breakdown of the sold prices and subdivisions. Lack of inventory and consistent demand is still pushing prices higher both in Farragut and most of East Tennessee. Don’t believe what you are hearing on the national news. For example, the national news reported that data through the end of February showed the first Year over Year reduction in the median sales price of homes nationally. However, in Knoxville, we saw a $30,000 increase in the median sales price compared to the end of February last year. Always remember, real estate is LOCAL and sometimes HYPER-LOCAL.

Have questions? Wondering what your home might be worth in today’s market? Contact the Troy Stavros TEAM with CornerStone Realty Associates today at 865-999-0925. We look forward to serving you!

Homes for sale in Farragut TN: 12813 Lebel Road

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Homes for sale in Farragut TN are hard to come by. Even more so in the sought-after Fox Run Subdivision. This beautiful home with a Stephen Fuller Southern Living floor plan is the one you’ve been waiting for. Gorgeous updated eat-in kitchen features vaulted ceilings, an abundance of granite counters for prep space and stainless steel appliances including a gas stove and farm sink. The main level also includes the owner’s suite with a wall of windows and access to the back deck. Owner’s bath has dual sinks, custom tub (easy replacement as it’s a standard-size opening) and walk-in shower. The main level also includes the formal dining room, office, and laundry room with utility sink. Upstairs you’ll find the 4 additional bedrooms and a bonus room. Outside you’ll love the privacy in the large backyard which includes a deck, patio, and gazebo with natural gas for a grill. During the warmer months you’ll enjoy Fox Run’s 2 pools, clubhouse, and play fields. For more information or to schedule a private showing contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today.

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Homes for sale in Farragut TN : 405 Battle Front Trail

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One of a kind and originally built as a personal custom home for an architect. You will fall in love with not only all of the space but the amazing use of it in this conveniently located Farragut home on just under 1/2 acre. Need multiple main-level bedrooms? Check! Need home offices or hobby rooms? Check! Find 5 bedrooms and 3 full baths on the main level alone, one being the owner’s suite. Total of 6 possible bedrooms PLUS two large bonus rooms! The open floor plan has an updated custom kitchen opening directly to the family room, formal dining, and grilling porch. Two totally separate upstairs areas with bonus rooms. Screened porch overlooks a private backyard. Immaculately maintained. Farragut Schools. This is a must-see home. Be sure to watch the video tour and 360 Virtual tour.

CLICK HERE to see other homes for sale in Farragut, TN

CLICK BELOW TO WATCH VIDEO TOUR

360 VIRTUAL TOUR

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Homes for sale in East Tennessee : MARCH 2022 Housing Market Update

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In today’s video, we dive into the East Tennessee real estate data for the month of March 2022 to see how the East Tennessee housing market is doing compared to one year ago.

We will look at the inventory of active homes for sale in East Tennessee. Homes for sale in Knoxville TN, homes for sale in Farragut TN, homes for sale in Knox County TN, homes for sale in Loudon County TN, homes for sale in Anderson County TN, homes for sale in Roane County TN, homes for sale in Blount County TN, and homes for sale in Sevier County TN. We will also look at what has happened to the median sales price of homes over the last year in those areas of East Tennessee. We will discuss the real estate data and how it affects buyers and sellers in today’s East Tennessee housing market. We discuss the extremely hot market for real estate investing in Sevier County and the areas of Gatlinburg, Pigeon Forge and the Smoky Mountains.

Here is some basic real estate data and news in regards to the East Tennessee housing market not covered in the video that covers the housing market ending in 2021 and the last few months:

Seasonally adjusted home sales in the Knoxville TN Area declined 6.1% in March despite continued year-over-year gains.

Key Highlights:

-Knoxville, TN area home sales were strong in March — up from the prior month and 13% from a year ago.

-Median home sales price in East Tennessee was $301,880 in March — up 21% from a year ago.

-Total housing inventory in Knoxville TN declined for the sixth consecutive month — down considerably from a year ago and enough to last less than one month at the current sales pace.

-Half of the homes sold in Knoxville TN in March were on the market for less than 4 days.

Bottom Line: Seasonally adjusted home sales in East Tennessee declined for the fourth consecutive month, a clear sign that lack of supply is constraining the market and hampering further gains. Rising sale prices in Knoxville TN combined with further median DOM decreases suggest demand remains high — and likely to remain elevated throughout the year. At this point, there are no indications that supply will rise in the short term.

A scientific poll commissioned by KAAR (Knoxville Area Association of REALTORS) in March shows more than 1 in 3 registered voters — 34 percent — indicated housing affordability in the Knoxville TN area was a very or fairly big problem. 28 percent said the same about housing availability. That being said, Urban Land Institute’s Terwilliger Center Home Attainability Index for 2021 ranks Knoxville, TN as the 5th most affordable region in the United States.

In their latest migration trends report comparing cities across the country, U-Haul ranked Knoxville No. 7 on its list of top 25 U.S. growth cities.

Have questions or need help in today’s crazy East Tennessee housing market? Contact the Troy Stavros team at CornerStone Realty Associates at 865-999-0925 today. We are here to serve you! #chimein #888388DOOR