Purchaser exercise stays excessive by historic requirements although the housing market has slowed from its report excessive earlier this yr, in response to seasonally adjusted information from the Knoxville Space Affiliation of Realtors.
“New pending listings, a proxy for purchaser demand, are up 78% in comparison with the identical week in 2019,” mentioned Hancen Sale, authorities affairs and coverage director for KAAR. “Equally, median days on market is down 68% from 2019.”
This is a take a look at Knoxville’s actual property marketplace for the week of Oct. 24.
Knoxville actual property snapshot: Present dwelling stock hits lowest level since early July
House gross sales for the week of Oct. 24
Energetic listings, or variety of listings available on the market within the Knoxville space through the time interval: 2,210 (2,342 earlier week)
New pending gross sales, or variety of listings that went from energetic to pending through the time interval: 642 (577 earlier week)
Median days on market through the time interval: 7 (9 earlier week)
New listings added through the time interval: 493 (477 earlier week)
Median record worth for brand new listings added through the time interval: $299,900 ($306,875 earlier week)
Knoxville actual property snapshot: Costs proceed to rise however houses are available on the market longer
Enterprise in Knox County by Nov. 2
Knox County Register of Deeds Nick McBride recorded 4 new divisions of property final week, in comparison with 16 the identical week of the earlier yr, and 6 foreclosures.
“These two tendencies alone could also be indicative of the annual seasonal lull that actual property experiences,” McBride mentioned. “The variety of mortgages and gross sales recorded have been each just like that of a yr in the past. Nevertheless, the year-to-date figures are nonetheless manner forward of 2020. The worth of property financed is $1.5 billion better and the worth of property transferred remains to be over $1 billion better.”
Fourteen properties bought final week for $1 million or extra. Right here’s a snapshot of enterprise in Knox County by Nov. 2
New subdivisions/ divisions of property
Proportion change: 1.28%
Variety of mortgages
Worth of mortgages
Worth of gross sales
Variety of gross sales
Property gross sales by worth for the week ending Nov. 2
Greater than $1 million: 14
As much as $99,999: 29
House gross sales: This is how a lot dwelling costs in Knoxville have elevated from 2020
Progress and growth editor Brenna McDermott will be reached at [email protected] Comply with alongside together with her work on Twitter @_BrennaMcD. Assist our native information efforts by changing into a Knox Information subscriber.
This text initially appeared on Knoxville Information Sentinel: Knoxville actual property: House gross sales sluggish for fall however exceed pre-pandemic