Knoxville, TN home prices and housing market

Knoxville sellers are asking about sixty thousand dollars more than homes are worth, and nearly a quarter are cutting. If you are thinking about selling this year, that gap is the whole story. The typical Knoxville home is worth about three hundred seventy-nine thousand dollars, up just under one percent from a year ago. That is basically flat. Meanwhile, the median asking price sits near four hundred thirty-seven thousand dollars, and buyers are not paying it. There are about one thousand six hundred homes for sale right now, with roughly 650 more hitting the market this month, and the typical listing takes about fifty-three days to go under contract. Nearly one in four listings, about twenty-three and a half percent, has already cut its price. But here is the catch. Values are not falling. They are up, barely, but up. So those cuts are not a crash. They are sellers who started too high and had to chase the market down. If you list in Knoxville right now, price your home at what buyers are actually paying, not what you hope to get. Overprice, and you will join the sellers sitting for two months and cutting anyway. To see what your Knoxville home is worth today, get a free estimate at Home Value Pros dot com.