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East Tennessee Housing Market Update – April 2026: County-by-County Breakdown

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The East Tennessee housing market in April 2026 is not telling one story. It is telling nine very different stories depending on which county or sub-market you are looking at. Some areas are seeing record-level demand with homes flying off the market in under three weeks. Others are sitting on nearly ten months of inventory with prices sliding year over year. If you are buying, selling, or investing anywhere between Knoxville and the Smoky Mountains, understanding the nuances between these micro-markets has never been more important.

I put together this monthly breakdown to give you the clearest possible picture of where things stand right now across Knox County, Blount County, Anderson County, Loudon County, Roane County, Sevier County, and three of the most actively watched sub-markets in the region — Farragut, Tellico Village, and Lenoir City.

Let’s get into the numbers.

Knox County — Steady Activity but the Pace Is Slowing

Knox County remains the anchor of the East Tennessee real estate market, and April delivered solid numbers on the surface. Closed sales came in at 677, which represents a 10.6% increase compared to the same month last year. Pending sales were even stronger at 840, up 12.1% year over year. The median sale price held essentially flat at $400,000, ticking up just 0.03%.

But the story underneath the headlines reveals a shift. Days on market climbed to 18 days, a 50% increase from last April. Active listings rose 11% to 1,686, and months of supply sits at 2.72. The sold price to original list price ratio came in at 96.8%, which tells us sellers are making concessions more often than they were a year ago.

What does this mean if you are a Knox County homeowner thinking about selling this summer? It means the demand is still there, but buyers have more choices now and they are taking their time. Pricing your home correctly from the start is more important today than it has been in the last three years. Overpricing by even five to ten percent is enough to push your days on market well beyond that 18-day median and into territory where buyers start wondering what is wrong with the property.

If you are a buyer in Knox County, the leverage is slowly moving in your direction. Unless a home is highly desirable, you are not likely to face the blind bidding wars of 2022 and 2023, and you have room to negotiate — especially on homes that have been sitting for more than three weeks.

Blount County — Mixed Signals but Possibly Finding a Floor

Blount County delivered a mixed bag in April. The median sale price dipped to $385,000, down 5.1% from last year, and closed sales slipped 2.8% to 171 transactions. Days on market more than doubled to 56 days, which is one of the more dramatic year-over-year shifts in the region.

However, there are signs that the market may be finding a floor. Pending sales rose 10.9%, suggesting that buyer interest is picking back up even as the headline numbers look soft. Inventory actually shrank by 12.4%, which means the supply side is tightening even as demand recovers. The sold price to original list price ratio of 96.2% indicates that well-priced homes are still trading close to their asking price.

For Blount County sellers, the key takeaway is patience and pricing discipline. The days of listing high and waiting for a bidding war are over in this part of the market. But if you price your home in line with recent comparable sales, the buyers are there and the shrinking inventory works in your favor.

For buyers considering Blount County, this is one of the more interesting opportunities in the region right now. Prices have come down, competition has eased, and you have significantly more time to make decisions than you would in Knox County or Farragut.

Anderson County — Low Volume Amplifies the Swings

Anderson County posted the sharpest decline in closed sales across the region in April, with just 71 transactions representing a 16.5% year-over-year drop. That number sounds alarming until you consider the context. Anderson County is a lower-volume market, and small changes in the number of transactions can create outsized percentage swings.

The median sale price actually rose to $330,000, up 10% from last April, which suggests that the homes that are selling are selling well. New listings dropped 15%, which is keeping supply tight at 2.69 months. Pending sales dipped a modest 5.7%, which does not signal a market in distress.

Anderson County continues to appeal to buyers who want more space and lower price points compared to Knox County while still maintaining reasonable access to Knoxville and Oak Ridge. If you are considering this market, the tight supply means you should be prepared to move quickly when the right property comes along.

Loudon County — Price Correction Stimulates Real Demand

Loudon County is one of the most encouraging stories in the region this month. The median sale price adjusted downward to $485,000, a decline of 8.06% from last year, but that correction did exactly what price corrections are supposed to do. It brought buyers back to the table.

Closed sales jumped 16.5% to 113 transactions. Pending sales surged 31.3% to 130 contracts. Homes are moving in a median of 34 days, and months of supply sits at 3.56. The sold price to original list price ratio of 95.8% tells us that sellers are accepting slightly below their initial ask, but the volume and velocity of sales more than compensates for the per-unit price adjustment.

This is a textbook example of what happens when a market finds its equilibrium. Sellers who were holding out for peak 2024 pricing have adjusted their expectations, and buyers who were sitting on the sidelines responded immediately. If you own property in Loudon County and have been waiting to list, the data suggests that the demand is there if the price is right.

Roane County — Surging Pendings but Watch the Inventory

Roane County posted one of the most dramatic pending sales increases in the entire region. Pending contracts hit 107, a staggering 78.3% jump from April 2025. The median price rose to $345,000, up 8%, and closed sales held steady at 72 with no year-over-year change.

But there is a counterweight to that enthusiasm. New listings surged 42.5% and active inventory climbed 14.5%. Days on market doubled to 40 days, and the sold price to original list price ratio of 94.3% is the second lowest in the region behind Sevier County. That means sellers are leaving more money on the table compared to their original asking price.

The question for Roane County heading into summer is whether the surge in pending activity can absorb the flood of new listings. If it can, this market stabilizes at a healthy pace. If it cannot, we could see months of supply creep upward and put additional downward pressure on pricing. I will be watching this one closely over the next 60 to 90 days.

Sevier County — A Full Buyer’s Market

There is no way to sugarcoat the Sevier County numbers. This is a buyer’s market by every traditional metric, and it has been trending in this direction for several months.

The median sale price dropped to $484,000, down 7.81% from last April. Closed sales fell 16.18% to 171 transactions. Pending sales declined 15.57% to 309 contracts. Days on market stretched to 60 days, up 76% year over year. Active listings sit at 1,950, and months of supply has ballooned to 9.40 — well above the four to six month range that defines a balanced market. The sold price to original list price ratio of 92.6% is the lowest in the region, meaning sellers are accepting prices that average more than seven percent below their original asking price.

The investment-heavy nature of Sevier County real estate is a major factor here. Short-term rental properties, cabins, and vacation homes make up a significant portion of the inventory, and many of those owners are testing the market at aspirational price points. The buyers who are active in this market know they have leverage, and they are using it.

If you are a buyer who has been eyeing Sevier County — whether for a primary residence, a second home, or an investment property — this is the most favorable buying environment the area has seen in years. If you are a seller, the most important thing you can do right now is look at what has actually closed in the last 30 to 60 days and price accordingly. The properties that are selling in Sevier County are the ones priced at or below recent comparable sales. Everything else is sitting.

Farragut — The Tightest Market in the Region

Farragut continues to operate in a category of its own within the East Tennessee real estate landscape. The median sale price surged to $769,950, up approximately 16% year over year, making it the strongest price appreciation in any market I track. Months of supply sits at just 2.28, the tightest in the region, and the median days on market came in at only 17 days.

Closed sales totaled 44, up roughly 10% from last April. Pending sales came in at 50, down 10.7% compared to last year, which suggests that while the market remains competitive, there are slightly fewer contracts being written than at this time in 2025.

Farragut’s combination of top-rated schools, proximity to Turkey Creek and West Knoxville amenities, and limited buildable land continues to drive premium pricing. Even as other markets in the region soften, Farragut sellers are still commanding near full asking price and moving their homes in under three weeks.

For buyers targeting Farragut, the sub-three-month supply means you still need to come prepared. Work with an agent who knows the neighborhood-level dynamics, get your financing fully underwritten before you start making offers, and be ready to move quickly when the right home hits the market.

Tellico Village — Slow but Strengthening

Tellico Village is a study in contradictions this month. At 79 days, it has the longest median days on market of any area in this report. Closed sales fell to 35, down 18.6% from last April. The list price to original list price ratio of 95.2% suggests that sellers are negotiating more than they would like.

But the forward-looking indicators tell a different story. Pending sales jumped to 45, a 50% increase year over year. Active inventory declined more than 20%, and new listings dropped 23%. The median sale price rose to $665,000, up 6.42%, which means the homes that are closing are closing at higher values.

What this tells me is that Tellico Village buyers are taking their time — which makes sense given the price point and the demographic profile of the community — but they are showing up in significantly larger numbers than they were a year ago. The shrinking inventory combined with rising pendings is a leading indicator that the market is tightening, even if the days on market number has not caught up yet.

If you are selling in Tellico Village, the data says your buyer pool is growing. The challenge is bridging the gap between what buyers want to pay and what you want to accept. Homes that are priced realistically and show well are getting under contract. Homes that are priced based on what the neighbor’s house sold for in 2023 are not.

Lenoir City — The Comeback Story of the Month

Lenoir City delivered the strongest closing performance in the region in April. Closed sales hit 49, a 36.1% surge compared to last year. Pending sales rose 18.8% to 57 contracts. The median days on market came in at just 16 days, tied with Farragut for the fastest pace in the area. Months of supply sits at 3.27, and the sold price to original list price ratio of 96.2% is solid.

The catalyst behind this surge is clear when you look at the median price. It came in at $420,000, down 11.06% from last April. Sellers adjusted their pricing, and buyers responded with overwhelming demand. This is the same dynamic playing out in Loudon County, and it is the single best proof point in this entire report that realistic pricing is the most powerful tool a seller has in this market.

Lenoir City’s proximity to Tellico Lake, access to Loudon County schools, and relative affordability compared to Farragut and West Knoxville make it an increasingly attractive option for families and retirees alike. If you have been considering a move to this part of Loudon County, the current pace of sales suggests that the best-priced homes are not lasting long.

The Bigger Picture — Rates, Oil, and Inflation

No local market analysis is complete without understanding the macro forces at play. As of late April 2026, the 30-year fixed mortgage rate sits at approximately 6.65%. Crude oil is trading above $110 per barrel, driven in large part by geopolitical tension in the Strait of Hormuz, which handles roughly 20% of global oil supply. The Consumer Price Index shows inflation running at 3.8%, still well above the Federal Reserve’s 2% target.

These three numbers matter enormously for the East Tennessee housing market. Elevated mortgage rates continue to create a lock-in effect where existing homeowners who secured rates in the 3% to 4% range during 2020 and 2021 are reluctant to sell because buying their next home means nearly doubling their monthly payment. This suppresses listing volume. At the same time, those same high rates reduce purchasing power for buyers, particularly first-time buyers who do not have equity from a previous sale to offset the higher borrowing costs.

Until mortgage rates move meaningfully below 6%, the East Tennessee market is likely to remain in this state of compressed volume — fewer sellers willing to list and fewer buyers able to qualify — with pockets of intense competition in the most desirable sub-markets and growing buyer leverage in areas with higher inventory.

What This Means for You

The April 2026 data makes one thing abundantly clear. There is no single East Tennessee housing market. There are multiple markets operating under very different conditions within the same metropolitan area. Farragut and Lenoir City are humming. Knox County is steady but slowing. Sevier County is firmly in buyer territory. And several markets in between are in various stages of finding their footing.

Whether you are buying or selling, the most important thing you can do right now is work with someone who understands these micro-market dynamics and can help you make decisions based on current data rather than last year’s headlines.

If you have questions about what your home is worth today, what the right offer strategy looks like in your target neighborhood, or how to position your property to sell in the current environment, I am here to help. I track these numbers every single month because I believe informed clients make better decisions — and better decisions lead to better outcomes.

Troy Stavros
CornerStone Realty Associates, 865-999-0925
Serving Knox, Blount, Anderson, Loudon, Roane & Sevier Counties

Want to receive this market update in your inbox every month? Reach out to Troy Stavros at CornerStone Realty Associates to get on the list. Whether you are actively searching, casually exploring, or just want to stay informed about East Tennessee real estate, these insights are always free.

East Tennessee Housing Market Update — March 2026: What Buyers and Sellers Need to Know Right Now

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If you’re thinking about buying or selling a home in Knoxville, Knox County, or anywhere in the greater East Tennessee region, the March 2026 numbers deserve your attention. The market is shifting … not crashing, not booming, but recalibrating in ways that create real opportunities if you know where to look and real risks if you don’t.

Every month, we pull the latest data from the East Tennessee MLS across our six-county service area: Knox, Blount, Anderson, Loudon, Roane, and Sevier counties, and break down what the numbers actually mean for people making real decisions about real estate. This month’s data tells two very different stories depending on where you’re looking and whether you’re on the buying or selling side of the transaction.

Here’s everything you need to know.

The Big Picture: East Tennessee Real Estate in March 2026

Across the six-county East Tennessee market, the headline numbers look soft. Closed sales are down year-over-year in most counties, and inventory continues to build in some of the outlying markets. If you stopped there, you might think the market is in trouble.

But the story underneath the surface is more nuanced. Pending sales — which are the best leading indicator we have of where the market is heading over the next 30 to 60 days — are climbing in nearly every county. In some cases, they’re climbing significantly. That disconnect between closings and pendings tells us something important: buyer activity is picking up, but the deals haven’t hit the closing table yet. The spring market may be arriving late, but it appears to be arriving.

At the same time, the macroeconomic backdrop is putting pressure on affordability that wasn’t there a year ago. Mortgage rates remain stubbornly above 6.3%, oil prices have pushed past $100 per barrel for the first time since 2022, and real wages — when adjusted for inflation — are actually declining. All of that matters because it shapes what buyers can afford and what sellers can realistically expect.

Knox County Housing Market: The Engine of the Region

Knox County remains the largest and most closely watched market in East Tennessee, and the March numbers reflect a market that’s cooling on the surface but heating up underneath.

Closed sales in Knox County fell 16.7% year-over-year in March. That’s a meaningful decline, and it’s the kind of number that grabs headlines. But context matters. Part of that decline is a comparison issue — March 2025 was an unusually strong month. And more importantly, pending sales in Knox County rose 10.5% over the same period. That means more buyers are going under contract now than they were a year ago, even if fewer deals closed last month.

For sellers in Knox County, this means the market still has demand, but you need to be realistic about pricing. Overpriced homes are sitting. Homes priced correctly for the current rate environment are still moving, and in many neighborhoods, they’re moving with multiple offers. The days of listing 10% above comps and expecting a bidding war are behind us for now, but the days of well-priced homes selling quickly are not.

For buyers in Knoxville and Knox County, the math is actually improving. You have more inventory to choose from than at any point in the last three years, and the urgency that defined the 2021–2023 market has faded. That gives you negotiating leverage that simply didn’t exist before. If you’ve been waiting for a window, this may be it — especially if rates ease later this year.

Blount County Real Estate: Still One of the Tightest Markets in the Region

Blount County continues to be one of the most competitive markets in East Tennessee, and the March data reinforces that. While inventory has loosened slightly compared to the peak tightness of 2022 and 2023, Blount County still operates with relatively low months of supply compared to its neighbors.

Maryville and Alcoa remain popular with buyers who want proximity to Knoxville without Knoxville price tags, and the school systems in Blount County continue to be a draw for families relocating to the area. Demand here hasn’t softened as much as in some of the other counties, which means sellers in Blount County are in a relatively strong position — particularly if they own homes in the sub-$400,000 range where buyer activity is most concentrated.

If you’re looking to buy in Blount County, be prepared for a market that feels slightly more competitive than what you’ll find in Knox or Anderson County right now. Good homes in desirable neighborhoods are still generating interest quickly, and while you have more room to negotiate than you did two years ago, you may not have as much room as you’d find in some of the outer-ring counties.

Anderson County Housing Market: Pending Sales Surge 15.7%

Anderson County is quietly having one of the stronger springs in the region. Pending sales jumped 15.7% year-over-year in March — a number that stands out across the entire six-county area. Communities like Oak Ridge, Clinton, and Norris are seeing renewed buyer interest, and the county’s relative affordability compared to Knox and Blount is a significant factor.

For buyers who are priced out of West Knoxville or South Knoxville but still want to commute into the city, Anderson County offers a compelling value proposition. Median home prices here remain well below the Knox County median, and the inventory situation gives buyers more options and more time to make decisions without the pressure of immediate competition.

Sellers in Anderson County should take note of the pending sales momentum. If you’ve been on the fence about listing, the data suggests that buyer activity is accelerating here. Homes that are clean, well-maintained, and priced appropriately for the Anderson County market are finding buyers — and the spring selling season appears to be gaining traction.

Loudon County Real Estate: A 35% Jump in Pending Sales

The standout number in the entire six-county region this month belongs to Loudon County, where pending sales surged 35% year-over-year. That’s not a typo, and it’s not a small-sample-size anomaly. Something is happening in Loudon County.

Lenoir City and the lakefront communities along Tellico Lake and Fort Loudoun Lake continue to attract retirees, second-home buyers, and remote workers who want a more rural lifestyle within striking distance of Knoxville. The county’s combination of natural beauty, relative affordability, and lifestyle appeal is resonating with a buyer pool that appears to be growing.

For sellers in Loudon County, this pending sales surge is a strong signal. Demand is building, and if you’ve been waiting for the right time to list, the spring market is shaping up favorably. For buyers, the opportunity here is getting in ahead of what could be a tightening market later in the year. If pending sales continue at this pace, inventory will start to compress, and the leverage buyers currently enjoy may not last through summer.

Roane County: The Sleeper Market Nobody’s Watching

Roane County rarely makes headlines in East Tennessee real estate conversations, and that’s precisely why it deserves attention. The county — anchored by Harriman, Kingston, and Rockwood — offers some of the most affordable housing in the region, and the March data shows a market that is quietly healthy.

For buyers looking for value, Roane County is where you’ll find it. Median prices remain significantly below the regional average, and the inventory situation is favorable for buyers who want time and options. This is not a market defined by bidding wars or waived inspections. It’s a market where you can buy a solid home at a reasonable price with room to negotiate.

For investors, Roane County’s price-to-rent ratios are among the most attractive in the region. If you’re building a rental portfolio in East Tennessee and you’re finding Knox County cap rates too compressed, Roane County warrants a serious look.

Sellers in Roane County should understand that this is a more patient market. Homes take longer to sell here than in Knox or Blount, and pricing precision matters more. But the fundamentals are stable, and well-priced properties are transacting.

Sevier County Housing Market: 9 Months of Supply and a Shifting Landscape

If there’s one county in our service area where the data raises real questions, it’s Sevier County. Months of supply have pushed past 9 months — a level that, by traditional real estate metrics, places the county firmly in buyer’s market territory. Closings are down, and the overall trajectory has been softening for several consecutive months.

The Sevier County market is unique because of its heavy dependence on short-term rental investment properties. Gatlinburg, Pigeon Forge, and Sevierville have been among the hottest short-term rental markets in the country for the past five years, and the influx of investor capital drove prices to levels that look stretched by almost any conventional metric. Now, as short-term rental revenue softens in some segments and regulatory conversations continue at the local and state level, some of that investment thesis is being tested.

For buyers interested in Sevier County — whether for a primary residence, a vacation home, or an investment property — the leverage has shifted meaningfully in your favor. There are more options, more negotiating room, and more motivated sellers than at any point since the pandemic began. If your investment underwriting works at current prices, the buying environment is favorable.

For sellers in Sevier County, the message is straightforward: price matters more here than anywhere else in the region right now. With 9 months of supply on the market, overpriced listings are being ignored entirely. The properties that are selling are the ones priced to reflect current conditions, not conditions from 2022 or 2023. If you need to sell, work with an agent who understands the current Sevier County data and can position your property to stand out in a crowded market.

Core Markets vs. Outer Ring: Two Very Different Stories

One of the most important themes in this month’s data is the divergence between what we call the core markets — Knox and Blount counties — and the outer ring markets of Anderson, Loudon, Roane, and Sevier counties.

The core markets are performing with more resilience. Demand remains relatively stable, inventory is manageable, and the fundamental drivers of value — jobs, schools, healthcare, infrastructure — continue to attract buyers. Knox and Blount counties benefit from the gravitational pull of Knoxville’s economy, the University of Tennessee, and a healthcare sector that employs tens of thousands of people. These are markets where demand has a floor because people need to live near where they work.

The outer ring tells a more varied story. Anderson and Loudon counties are seeing surging buyer interest, driven largely by affordability migration from the core. Roane County is stable but quiet. And Sevier County is dealing with the consequences of a short-term-rental-driven price expansion that is now correcting.

This divergence matters because it means there is no single “East Tennessee housing market.” There are multiple markets operating under the same regional banner, each with its own dynamics, its own supply-demand balance, and its own set of opportunities and risks. The worst mistake you can make — whether you’re buying or selling — is assuming that the conditions in one county apply to another.

The Macro Picture: Why It Matters for East Tennessee Home Buyers and Sellers

Real estate is local, but it doesn’t operate in a vacuum. Several macroeconomic factors are shaping the environment for home buyers and sellers in East Tennessee right now, and ignoring them would be a mistake.

Mortgage rates remain above 6.3% as of mid-April 2026. For a buyer purchasing a $350,000 home with 10% down, that translates to a monthly principal and interest payment of approximately $1,960 — a number that is meaningfully higher than it would have been at the sub-3% rates available in 2021. Rates are the single biggest factor affecting affordability right now, and until they come down materially, the buyer pool for higher-priced homes will remain constrained.

Oil prices have pushed above $100 per barrel, driven in part by geopolitical tension surrounding Iran and broader supply concerns. Energy prices feed into everything — transportation costs, construction material costs, and the general inflationary environment that has kept the Federal Reserve cautious about cutting rates. Higher oil prices are not directly a housing market story, but they contribute to the cost-of-living pressure that limits how much buyers can stretch for a home purchase.

Real wages — what workers earn after adjusting for inflation — are declining. According to the latest BLS data, the purchasing power of the average paycheck is lower today than it was a year ago. For a region like East Tennessee, where median household incomes are below the national average, this is a significant headwind. Buyers are feeling squeezed from multiple directions: higher rates, higher prices, and stagnant or falling real purchasing power.

The wildcard remains Iran and the broader geopolitical situation. Any escalation that further disrupts global energy markets could push oil higher, which would put upward pressure on inflation, which would keep the Fed from cutting rates, which would keep mortgage rates elevated. It’s a chain reaction that starts far from Knoxville but ends at the closing table.

What This Means If You’re Buying a Home in East Tennessee

If you’re a buyer in today’s East Tennessee market, here is where you stand. You have more inventory than at any point in the last three to four years. You have negotiating leverage that didn’t exist during the pandemic market. And you have time — in most markets, the frantic pace of 2021 through 2023 has given way to a more measured, more rational process where you can conduct inspections, negotiate repairs, and make informed decisions without feeling like the house will be gone by tomorrow.

The trade-off is affordability. Rates above 6.3% mean your monthly payment is higher than it would have been in a lower-rate environment, even if the purchase price hasn’t changed. The question every buyer has to answer is whether today’s combination of better inventory, better negotiating position, and better terms outweighs the higher monthly cost of financing.

Our view is that for buyers who plan to own for five or more years, the current environment is favorable — particularly in Knox, Blount, Anderson, and Loudon counties where the fundamental demand drivers are strong. If rates decline in the future, you can refinance. What you can’t do is go back in time and buy at today’s prices if the market tightens.

What This Means If You’re Selling a Home in East Tennessee

If you’re a seller, the message depends heavily on where your property is located and how it’s priced. In Knox and Blount counties, well-priced homes are still selling within reasonable timeframes, and the pending sales data suggests that buyer activity is increasing heading into the spring. If you price correctly and present well, you’re in a solid position.

In the outer-ring counties, patience and pricing are even more critical. Anderson and Loudon counties have strong pending momentum, but Roane and especially Sevier counties require careful strategy. If you’re selling in Sevier County right now, you’re competing against a significant amount of inventory, and the only way to stand out is to be the best value in your price range.

Across the board, the sellers who are succeeding in this market share a few characteristics: they price based on current data rather than peak prices, they invest in presentation before listing, and they work with agents who understand the hyperlocal dynamics of their specific market. The sellers who struggle are the ones still anchored to 2022 expectations in a 2026 market.

Looking Ahead: April and May 2026

Based on the pending sales data, we expect April and May closings to improve across most of the six-county region. The pending-to-closing pipeline suggests that the spring market is gaining momentum, and if that momentum holds, we should see better year-over-year comparisons in the months ahead.

The unknowns are on the macro side. If geopolitical events push oil and inflation higher, that could keep rates elevated and dampen the spring surge. If the situation stabilizes and the Fed signals any movement toward rate cuts, buyer confidence could accelerate quickly. We’re watching both scenarios closely and will update the data every month.

Work With an Agent Who Knows the Numbers

At the end of the day, data doesn’t buy or sell houses — people do. But the people who make the best decisions are the ones working with the best information. Whether you’re buying your first home in Knoxville, selling a property in Blount County, investing in Loudon County, or trying to make sense of the Sevier County market, we’re here to help you understand what the numbers mean for your specific situation.

If you found this market update helpful, subscribe to our monthly updates so you never miss the latest data. And if you’re ready to have a conversation about buying or selling in East Tennessee, reach out to our team today. No pressure, no obligation — just honest, data-driven guidance from people who live and breathe this market every day.

Troy Stavros, CornerStone Realty Associates – 865-999-0925 – Troy@865realestate.com

JULY 2024 Knoxville & East Tennessee Housing Market Update “How’s the market?”

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If you’re considering buying or selling real estate in East Tennessee or Knoxville, staying informed about the latest market trends is crucial. The housing market in these areas continues to evolve, influenced by economic conditions, mortgage rate fluctuations, and generational trends. Here’s a comprehensive update for July 2024 to help you make the best decisions in this dynamic market.

Millennials Drive Real Estate Trends in Knoxville and East Tennessee

In 2024, Millennials have become the largest group of homebuyers, surpassing even Baby Boomers. This generational shift is having a significant impact on the East Tennessee and Knoxville real estate market. Millennials are keenly aware of the long-term financial benefits of homeownership, particularly in a market where property values have been resilient. As a result, more young buyers are entering the market, driving demand and shaping the future of real estate in Knoxville and beyond.

Mortgage Rates and Their Impact on Knoxville Real Estate

Mortgage rates have been a significant factor in the East Tennessee real estate market. Over the past two years, rates have risen from historic lows of around 3% to nearly 7%, causing many homeowners to stay put, creating a “lock-in” effect. However, as of July 2024, there’s good news for prospective buyers: mortgage rates have begun to ease, currently hovering just below 6.5%. This slight decrease is expected to continue as inflation cools and the Federal Reserve adjusts its policies.

For those looking to buy a home in Knoxville or East Tennessee, this trend could make homeownership more affordable in the coming months. On the flip side, sellers should be aware that lower rates could bring more buyers into the market, potentially increasing competition.

This shift in mortgage rates is critical for anyone considering buying a home in Knoxville or East Tennessee. Monitoring Knoxville mortgage rates and understanding how they influence home affordability will be key to timing your entry into the market.

East Tennessee Real Estate Market: Inventory and Price Trends

East Tennessee Real Estate Trends

  • Home Sales: Increased by 7.1% Year-over-Year
  • Pending Sales: Up 12.4%
  • Inventory: Rose by 42.7%
  • Median Sales Price: Up 7.14% to $375,000

The real estate market in East Tennessee is experiencing a significant increase in inventory, the highest level seen in 2024. This increase provides more options for buyers, but also indicates that the market is balancing out, with supply beginning to catch up to demand. This trend could lead to more stable prices in the coming months, making it a good time to buy a home in East Tennessee.

For those searching for East Tennessee property, the rise in inventory means more choices and potentially better deals. Keeping an eye on East Tennessee real estate trends will help you stay ahead in this evolving market.

Knoxville Real Estate Market Update

  • Home Sales: Up 15% Year-over-Year
  • Pending Sales: Up 15%
  • Inventory: Increased by 51.6%
  • Median Sales Price: Rose by 3.97% to $395,000

In Knoxville, the real estate market remains strong, with a significant year-over-year increase in both home sales and inventory. The median sales price continues to rise, though at a more moderate pace. For sellers in Knoxville, this means the market remains favorable, though pricing strategies should be carefully considered as more homes come onto the market.

If you’re considering selling your home in Knoxville, understanding these market dynamics is essential to pricing your property competitively. The current trends in Knoxville real estate indicate that while the market is still strong, strategic pricing will be key to attracting buyers.

County-Specific Real Estate Insights: Knoxville and Surrounding Areas

While the Knoxville real estate market shows steady growth, surrounding counties are experiencing mixed trends:

  • Roane County Real Estate: Inventory up 56.7%, median sales price up 8.28% to $322,950.
  • Sevier County Real Estate: Inventory up 46.55%, median sales price down 12.12% to $452,500.
  • Loudon County Real Estate: Inventory up 64.4%, slight decrease in median sales price by 1.23%.
  • Blount County Real Estate: Inventory up 35.4%, median sales price down 1.37%.

These figures highlight the importance of understanding local market conditions when buying or selling property in East Tennessee. Areas like Sevier County are seeing price drops, likely due to decreased investor activity, making it a potential opportunity for buyers. Meanwhile, counties like Roane are still experiencing strong price growth, indicating sustained demand.

Opportunities and Challenges in the Knoxville Real Estate Market

The real estate market in East Tennessee and Knoxville is showing signs of balancing out. For buyers, increasing inventory and easing mortgage rates may offer a better chance to find the right home. For sellers, especially in high-demand areas like Knoxville, the market remains favorable, but it’s important to stay competitive as more listings come online.

If you’re contemplating selling your home in Knoxville, or buying property in East Tennessee, now is the time to act. Staying informed about Knoxville real estate opportunities and challenges will help you navigate this complex market effectively.

Final Thoughts

The East Tennessee and Knoxville housing market is in a state of flux, with both growth and challenges evident in the data from July 2024. By staying informed and strategically using the current trends, buyers and sellers can make the most of the opportunities presented by this dynamic market.

For more insights into buying or selling property in East Tennessee or Knoxville, or to discuss your specific real estate needs, don’t hesitate to reach out. We’re here to help you navigate these evolving market conditions.

For more insights into buying or selling property in East Tennessee or Knoxville, or to discuss your specific real estate needs, don’t hesitate to reach out. We’re here to help you navigate these evolving market conditions. Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today.

East Tennessee and Knoxville Real Estate Market Report: JUNE 2024

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As the summer heats up, so does the real estate market in East Tennessee and Knoxville. With data gathered through the end of June, we have a comprehensive look at the current trends and what buyers and sellers can expect in the coming months.

East Tennessee Market Overview

Home Sales and Inventory

  • Home Sales: Down 12.5% compared to June 2023.
  • Pending Sales: Up 4.8%.
  • Inventory: Up 40% from last year.
  • New Listings: Increased by 1%.
  • Median Sales Price: Up 8.01%, now at $376,500.
  • Average Price Per Square Foot: $221.

The absorption rate has seen a slight increase to 3.3 months of inventory, indicating a still strong seller’s market. Despite a rise in inventory, prices continue to climb due to sustained demand.

Knoxville Market Dynamics

Sales and Pricing Trends

  • Home Sales: Down 8.4% from last year.
  • Pending Sales: Up 1.3%.
  • Inventory: Up 53.5%.
  • New Listings: Nearly unchanged, down just 0.3%.
  • Median Sales Price: Increased by 3%, now at $408,150.
  • Average Price Per Square Foot: $220.

The absorption rate in Knoxville stands at 1.84 months, still favoring sellers. The Knoxville Market Action Index shows a strong seller’s market, with the city experiencing one of the highest price shifts in the nation since the peak in 2022.

Did you know that Knoxville experienced the largest price increase among the 200 largest metro housing markets in the US since March 2020, with a staggering 73% rise? This unexpected surge highlights Knoxville as a unique hotspot in the national real estate landscape.

Surrounding Counties Snapshot

  • Roane County: Inventory up 70.5%, median price up 19.3% to $340,000.
  • Knox County: Inventory up 56.3%, median price up 2.41% to $399,900.
  • Anderson County: Inventory up 43.8%, median price up 10.34% to $320,000.
  • Loudon County: Inventory up 63%, median price up 4.10% to $510,000.
  • Sevier County: Inventory up 47.5%, median price up 5.52% to $525,750.
  • Blount County: Inventory up 55.4%, median price up 8.84% to $413,500.

Interest Rates and Market Impact

The recent drop in interest rates from over 7% to 6.85% is a significant development. This reduction could stimulate market activity, making it more affordable for buyers and potentially encouraging sellers to list their homes.

Homeowners Insurance Rates

Rising insurance rates are another factor affecting affordability. Tennessee saw an 11% increase in homeowners insurance in 2023, impacting the overall cost of homeownership.

Conclusion

The East Tennessee and Knoxville real estate markets are robust despite fluctuating trends. With rising inventory and stable prices, it’s a promising time for buyers and sellers alike. If you’re considering buying or selling in the area, now is a great time to act.

Contact Us If you have any questions or need assistance with your real estate needs, contact Troy Stavros at Cornerstone Realty Associates in Knoxville. We’re here to help you navigate the market and achieve your real estate goals.

Navigating the Rising Tide: Knoxville Real Estate Trends and Projections (#1 in the Country!)

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Knoxville’s real estate landscape has seen significant shifts over the past year, marking it as a hotspot for buyers and sellers alike. With an impressive growth trajectory and promising projections, understanding these trends is key for anyone looking to make a move in this vibrant market

Knoxville Market Overview

The past year has been remarkable for Knoxville, with home prices witnessing an 11.8% rise across Knox County. This uptick wasn’t isolated, as surrounding regions also experienced similar appreciations, underscoring the area’s widespread real estate vitality. See the interactive map of last year here.

Future Projections

Looking forward, Knoxville’s market is expected to continue its upward trend, with an anticipated 8.3% increase in home values. This forecast suggests that the market remains robust, offering lucrative opportunities for current homeowners and potential buyers. See the year ahead projections MAP here.

Strategies for Buyers and Sellers

In this competitive landscape, timing and strategy are everything. Buyers are encouraged to enter the market sooner rather than later to capitalize on current prices before they climb further. Sellers, on the other hand, can expect to see their investments appreciate, making it an opportune time to list.

Conclusion

The Knoxville real estate market is poised for another year of growth, making it a prime time for transactions. Whether you’re looking to buy your dream home or sell for a profit, acting now could lead to significant gains in this thriving market.

Ready to navigate Knoxville’s vibrant real estate market with an expert by your side? Contact Troy Stavros with CornerStone Realty Associates at 865-999-0925 today. Whether you’re buying, selling, or just exploring your options, Troy’s deep market knowledge and personalized approach will guide you every step of the way. Don’t miss out on your opportunity to thrive in Knoxville’s dynamic housing landscape. Call now!

Navigating the Knoxville Real Estate Market: Insights for Buyers and Sellers – Monday February 19th

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The Knoxville real estate market is bustling with opportunities and challenges for both buyers and sellers. As we delve into the latest market update, it’s clear that understanding the current trends is crucial for anyone looking to make a move in this vibrant city.

For Buyers: Seizing Opportunities

Knoxville’s real estate landscape offers a diverse range of properties, from charming historic homes to modern new constructions. Despite the competitive market, buyers have opportunities to find their dream home with the right strategy. Key insights suggest:

  • Navigating Competitive Waters: With demand outpacing supply in many areas, preparation is key. Buyers should secure financing ahead of time and be ready to act quickly when they find the right property.
  • The Importance of Local Expertise: Partnering with a local real estate professional can provide buyers with the inside track on new listings and neighborhoods that best meet their needs and budget.

For Sellers: Maximizing Returns

Sellers in Knoxville are in a favorable position, with high demand leading to competitive offers and often, quick sales. To capitalize on this market, sellers should consider:

  • Strategic Pricing: Setting the right price from the start can attract serious buyers and potentially lead to multiple offers.
  • Preparing Your Home for Sale: Small improvements and staging can make a significant difference in how quickly a home sells and for how much.

Market Trends to Watch

  • Inventory Levels: Understanding the current supply of homes for sale can help both buyers and sellers make informed decisions.
  • Interest Rates: Fluctuations in interest rates can impact buying power and market dynamics, making it a critical factor to watch.

Conclusion & Next Steps

The Knoxville real estate market is vibrant and full of potential. Whether you’re looking to buy your dream home or sell your property in this dynamic environment, expert guidance is invaluable. For personalized advice and insights tailored to your unique real estate goals, consider reaching out to Troy Stavros with CornerStone Realty Associates. With a deep understanding of the Knoxville market and a commitment to exceptional service, Troy and his team are ready to assist you. Contact Troy Stavros at 865-999-0925 to embark on your real estate journey with confidence.