National and County-wide news sources are slow ( The lag time for existing-home sales is typically 60-90 days national the data takes into account when a buyer actually closes on the home.) and do not accurately represent what is happening in our local market.
It's important to stay informed about conditions impacting our local neighborhood. I hope you find it useful. These market reports are updated weekly so you can be "ahead of the curve" as to a more reflective information of the housing market the direction the housing market is headed.
This Week. The median list price in KNOXVILLE, TN this week is $176,900. Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Supply and Demand Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Price The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Housing out-performed other portions of Tennessee's economy in the second quarter.
Business & Economic Research Center | Jones College of Business | Middle Tennessee State University. Tennessee Housing Market: 2nd Quarter 2013 Knoxville Over-the-year sales are 18.8% higher.826
This Week. The median list price in KNOXVILLE, TN this week is $176,900. Inventory is tightening and days-on-market is falling. The Market Action Index shows demand heating up. These are relatively bullish signs for prices.
Supply and Demand Home sales have been exceeding new inventory for several weeks. However because of excess inventory, prices have not yet stopped falling. Should the sales trend continue, expect prices to level off soon and potentially to resume their climb from there. Watch prices as the market transitions from a Buyer's market to a Seller's market.
Price The market has been on a downward trend recently and this week, while essentially flat, doesn't break us out of that cycle.
Housing out-performed other portions of Tennessee's economy in the second quarter. Business & Economic Research Center | Jones College of Business | Middle Tennessee State University. Tennessee Housing Market: 2nd Quarter 2013 Knoxville Over-the-year sales are 18.8% higher.826
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We are observing a more vigorous house price recovery and we are forecasting prices in the metro Knoxville area to appreciate over the next 12 months. A trend that should continue for the rest of 2013 into 2014.
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