Purchaser exercise stays excessive by historic requirements though the housing market has slowed from its report excessive earlier this yr, in accordance with 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,” stated 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: Current residence 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 in the course of the time interval: 2,210 (2,342 earlier week)
New pending gross sales, or variety of listings that went from energetic to pending in the course of the time interval: 642 (577 earlier week)
Median days on market in the course of the time interval: 7 (9 earlier week)
New listings added in the course of the time interval: 493 (477 earlier week)
Median listing value for brand spanking new listings added in the course of the time interval: $299,900 ($306,875 earlier week)
Knoxville actual property snapshot: Costs proceed to rise however properties are available on the market longer
Enterprise in Knox County via 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 stated. “The variety of mortgages and gross sales recorded had been each much like that of a yr in the past. Nonetheless, the year-to-date figures are nonetheless approach 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 offered final week for $1 million or extra. Right here’s a snapshot of enterprise in Knox County via 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 residence costs in Knoxville have elevated from 2020
Progress and improvement editor Brenna McDermott might be reached at [email protected] Comply with alongside along with her work on Twitter @_BrennaMcD. Assist our native information efforts by turning into a Knox Information subscriber.
This text initially appeared on Knoxville Information Sentinel: Knoxville actual property: House gross sales gradual for fall however exceed pre-pandemic