Home sales rose 9.6% from August to September, according to seasonally adjusted data from the Knoxville Area Association of Realtors.

Nationally, new home construction fell 1.6% in September from the previous month, but construction since the start of the year is 17% higher than in 2020, according to the National Association of Realtors.

During the second week of October, the median list price in the Knoxville area increased, as did the median days on the market, according to KAAR data from a 12-county area.

The median number of days a home was on the market during the week was nine. Earlier in the summer, it had lasted an average of four or five days.

Here’s a look at the Knoxville real estate market for the week of October 10.

Home sales for the week of October 10

Jaxx Fox's home at 5411 Wil Loyd Drive in Knoxville, Tennessee on Thursday, July 15, 2021. Fox bought his home in the midst of the most competitive and expensive real estate market Knoxville has ever seen.  First-time buyers and work to update and repair their home before moving in.

Active ads, or number of listings in the Knoxville area market during the period: 2,342 (2,392 the previous week)

New sales pending, or number of listings that went from active to pending during the period: 577 (566 the previous week)

Median days on the market during the period: 9 (7 previous week)

New ads added during the period: 477 (494 previous week)

Median list price for new listings added during the period: $ 306,875 ($ 289,900 the previous week)

Business in Knox County through October 19

For the week ending October 19, Knox County Deeds Register Nick McBride recorded 10 new property divisions, two foreclosures and six sales of property worth over $ 1 million.

“Deeds of trust and deeds of guarantee continue to have a much higher trend than last year, with an increase of 27% for mortgages and 30% for sales,” said McBride. “Fewer sales were recorded last week than last year, but the value of sales this year greatly exceeds those of last year.

Here’s a look at business in Knox County through October 19.

Seizures

  • 2021: 77
  • 2020: 129
  • Percent change: -40.31%

New subdivisions / property divisions

  • 2021: 460
  • 2020: 441
  • Percent change: 4.31%

Number of mortgages

  • 2021: 23 876
  • 2020: 20 589
  • Percent change: 15.96%

Mortgage value

  • 2021: $ 6,930,942,600.00
  • 2020: $ 5,426,807,643.47
  • Percent change: 27.72%

Sales value

  • 2021: $ 4,282,666,948.64
  • 2020: $ 3,278,016,764.86
  • Percent change: 30.65%

Number of sales

  • 2021: 12 527
  • 2020: 11 168
  • Percent change: 12.17%

Sales of value properties for the week ending October 19

  • Over $ 1 million: 6
  • $ 900,000 to $ 999,999: 1
  • $ 800,000 – $ 899,999: 2
  • $ 700,000 – $ 799,999: 4
  • $ 600,000 – $ 699,999: 4
  • $ 500,000 – $ 599,999: 10
  • $ 400,000 to $ 499,999: 22
  • $ 300,000- $ 399,999: 46
  • $ 200,000 – $ 299,999: 58
  • $ 100,000 to $ 199,999: 53
  • Up to $ 99,999: 31

Growth and Development Editor-in-Chief Brenna McDermott can be reached at [email protected] Follow his work on Twitter @_BrennaMcD. Support our local news efforts by becoming a Knox News subscriber.



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