Saturday, June 15th, 2019
It was another strong spring for Knoxville’s historic neighborhoods. Let’s take a look at some of the numbers from the historic core to see how they compare to the last couple of years.
The number of homes sold has held fairly steady the few years and this year is no exception, finishing the season with 362 single family homes sold in the historic core. The lack of change isn’t really notable by itself but it does help give us some context for the next two charts…
Average days on market continues to go down averaging just 39 days this spring. Basically buyers are buying as soon as homes come on the market because if they don’t someone else will. Given that environment the last chart doesn’t come as a huge surprise…
The average sold price this spring continues to rise at a good clip, coming in at $181,000. While that is great for current homeowners, buyers are continuing to feel the pinch. It will be interesting to see if buyer demand supports continued price increases throughout the year or if, like last year, things tend to even out as we head into summer and fall.
Every home is unique, and your own home’s value will depend on many factors. If you are considering selling your home we would love to put our experience and knowledge of Knoxville’s historic neighborhoods to work for you!
*Source data from Knoxville Area Association of Realtors MLS. Information is deemed reliable but not guaranteed.