Homes for Sale in East Tennessee

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The residential real estate market is starting to show signs of leveling off, said Hansen Sale, director of government and policy for the Knoxville Association of Realtors.

There are now 2,471 active ads. This number has increased every week since the week of June 20, when there were 1,956 active ads.

“We used to be in situations where you had 15 offers for a house,” Sale told Knox News. “I think we are in a place where it looks more like five sentences. You know it’s slowing down. “

Although sales are still higher than the market before the pandemic, Sale described the market as fairly stable. Here are the numbers.

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Sale of homes for the week of August 8-14.

Active adsor Number of listings on the market in the Knoxville area during the period: 2,471 (2,439 in the previous week)

New pending sales, or the number of ads that went from active to pending during the time period: 630 (639 in the previous week)

Average number of days on the market for the period: 6 (6 in the previous week)

Added new ads for the period: 603 (709 in the previous week)

Average list price for new listings added during the period: $ 287,450 ($ 295,000 in the previous week)

Business in Knox County until Aug 17

Nick McBride filed 14 new title divisions with the Knox County Registry last week. This is three times more than was recorded in the same week of 2020. There was no ransom.

“Both sales and real estate financing are still going well,” McBride said.

Although the value of the financed properties still surpasses last year by almost $ 1.5 million, there have been many notable sales in the past week. Twenty properties were transferred for more than $ 1 million.

Here’s a snapshot of the Knox County business through Aug. 17.

Foreclosures

  • 2021: 61
  • 2020: 105
  • Percentage change: -41.91%

New divisions / divisions of ownership

  • 2021: 359
  • 2020: 350
  • Percentage change: 2.57%

Number of mortgage loans

  • 2021: 18,810
  • 2020: 15 388
  • Percentage change: 22.24%

Mortgage cost

  • 2021: $ 5,411,006 $ 260.86
  • 2020: 4,013,809,069.56 dollars
  • Percentage change: 34.81%

Number of sales

  • 2021: 9,759
  • 2020: 8 433
  • Percentage change: 15.72%

Sales value

  • 2021: $ 3,286,681,354.05
  • 2020: $ 2,430,811,002.70
  • Percentage change: 35.21%

Property Sales at Value for the Week Ending 17 Aug

  • More than $ 1 million: 20
  • $ 900,000 – $ 9,999: 1
  • $ 800,000 – $ 899,999: 3
  • $ 700,000-799,999: 7
  • $ 600,000 – $ 699,999: 14
  • $ 500,000 – $ 599,999: 12
  • US $ 400,000-49 9,999: 38
  • $ 300,000-399,999: 69
  • US $ 200,000-299,999: 81
  • $ 100,000-19,999: 59
  • Up to $ 99,999: 36

Growth and Development Editor Brenna McDermott can be reached at brenna.mcdermott@knoxnews.com. Follow her work on Twitter @_BrennaMcD… Support our local news efforts become a Knox News subscriber



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