Homes Selling Fast, Property Transfer Statistics

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May 2021

Knoxville real estate market remains hot as demand is high and supply is at an all-time low. The Knoxville Area Realtors Association collects monthly data to keep track of what is happening in the Knoxville area market. This is what May 2021 looked like.

What you need to know:

  • Home sales (seasonally adjusted) were down 14.5% from the previous month. KAAR reports month-to-month changes and home sales patterns using a seasonally adjusted annual rate that takes into account typical seasonal fluctuations in the data and is expressed as an annual sum. Comparing monthly housing market data using this method provides a more accurate picture of home sales.
  • The asking price is the starting point. More than 68% of homes sold in May were sold for listing prices or higher.
  • Almost 10% of homes sold in May went at least $ 25,000 over the asking price.

PURCHASE: Looking to buy a house in Knoxville? Here’s how to compete

SALE: Is now the right time to sell? What do you need to know

RECENT HOUSE BUYERS: The two explain what the Knoxville real estate market really looks like.

Number of ads sold:

  • May 2021: 1926
  • May 2020: 1570
  • Percentage change: + 22%

Average Selling Price:

  • May 2021: $ 265,000
  • May 2020: $ 214,950
  • Percentage change: + 23.3%

The ratio of the selling and the list price:

  • May 2021: 100.1%
  • May 2020: 96.6%
  • Percentage change: + 4.5%

Average number of days on the market:

  • May 2021: 3
  • May 2020: 13
  • Percentage change: -76.9%

Transfer of ownership

Nick McBride’s Knox County Registry records legal documents related to real estate, including warranties, trusts, permits, powers of attorney, liens, and various other documents.

Here’s a snapshot of the Knox County business prior to June 23rd.

More: The stories behind some of the most famous Knoxville properties on the market

Foreclosures, year to date:

2021: 45

2020: 83

New divisions or divisions of ownership:

2021: 261

2020: 264

Deeds of trust, from the beginning of the year to the date:

2021: 14,356 documents for a total amount of 4,008,832,200 US dollars.

2020: 11022 cases totaling 2,866,400,591 USD

Warranty documents valid from the beginning of the year:

2021: 7219 transactions totaling $ 2,309,078,024.

2020: 2,898 transactions for a total amount of 1,618,000,919 US dollars

Transfer of property at cost per week from June 23:

More than $ 1 million: 9

$ 900,000 – $ 9,999: 2

$ 800,000 – $ 899,999: 3

$ 700,000 – $ 799,999: 5

$ 600,000 – $ 699,999: 5

$ 500,000 – $ 599,999: 15

$ 400,000-49 9,999: 31

$ 300,000-399,999: 51

US $ 200,000-299,999: 91

US $ 100,000-19,999: 60

Up to $ 99,999: 24

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

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