The Knoxville real estate market is still very much a buyers’ market. This means that prices are still lower than last year, as is volume, which is creating great opportunity for those who are ready to buy at this time. Other real estate markets in the US are recovering and picking up speed and it will only be a matter of time before the Knoxville market follows suit.
The real estate tracking website Trulia.com is currently displaying data for the 3 week period of September 4th through the 25th. During this time period the median sales price for Knoxville homes was up 18.8% while the average price per square foot is down 5.1% compared with a year ago. This suggests that buyers are spending more for homes in Knoxville but that values continue to drop. Buyers have great opportunity right now to get more of a home for less money.
Do you want to know more about Knoxville real estate trends? Contact The Pozy Team today for up to date information on current market conditions. We keep our fingers on the pulse of the market so that our clients can stay educated and informed. We know Knoxville and we know Knoxville real estate.
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