Knoxville, TN housing market

Knoxville's housing market is barely moving on price, and that is the story this month. The typical home is worth about three hundred eighty-five thousand dollars, up just 0.6 percent over the past year. That is basically flat. But flat prices do not mean a frozen market. About one thousand four hundred fifty homes are for sale right now, and buyers are taking their time. The median home sits for 53 days before going under contract. Here is the part sellers should pay attention to. Nearly a quarter of listings, about 23 percent, have already cut their price. And with a median list price around four hundred thousand dollars, sellers are still aiming high relative to what homes are actually selling for. Put it together and the message is clear. Knoxville is a steady market that punishes wishful pricing. Price your home right from day one and it will sell. Aim too high and you will sit for weeks, then cut anyway.