Knoxville Home Sales Report: August 2019

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DEEP THOUGHTS:

1. Inventory remains under the 3 month supply line for the second month in a row and the third time in the last three years.
2. Closings are up almost 20% year over year.
3. Sales prices are up across the board almost 20% (sense a theme yet?). The average price for a 3 BR house in August 2019 was $181,449 vs $225,555 this August.
4. Active listings were up month over month, but down 16% year over year.
5. Interest rates are still low and still helping to drive this train.
6. Y’all. For real. Look at those other lines. August is usually kind of slow. We should be winding down for the year, but we’re not. I’m thinking I’m not booking a non-refundable vacation any time soon, because we house slingers gotta make hay while the sun shines.

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: July 2019

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DEEP THOUGHTS:

1. Inventory has fallen under the 3 month supply line for the second time in the last three years.
2. Closings are WAY up, especially for July.
3. Active listings are still mostly flat, and certainly not helping our inventory problems.
4. Sales prices are still BOOMING. Average sales price for a 3 BR home was up almost 21% in 2019 from 2018. That’s a big increase, in case you were wondering.
5. Interest rates are still well below 4%, so money is still super cheap.
6. Y’all are going to ask me what this all means and I’m going to tell you I simply do not know. Every time I think we have yee hawed the last of the wild west out of this market, it just seems to get a little wilder. Hold on tight, because this bronco ain’t stopped buckin’ yet!

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Heather Kirby

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Heather is a native Knoxvillian, so she feels a special love and connection to her hometown. She studied art history at the University of Tennessee where she developed her appreciation for architecture and its underlying history. For two years, she was a resident manager at a wilderness lodge in Big South Fork where she honed her business and accommodation skills. From there she worked for the Knox County Library System for 13 years where she successfully commingled with a wide variety of people and expanded her research expertise. Heather's change in career to real estate was a natural choice with her background experience. She is friendly and honest and thrives on work that allows her to communicate and focus on the details. Whether a client is a buyer or seller, she believes in a creative, cooperative approach to negotiation and problem-solving where relationships are built and where everyone leaves the table feeling that their core needs have been met.


Heather is a well-rounded person with many interests. She is a real animal lover, for she is a proud momma of cats and dogs, all of which are rescues, and she works with horses and is an aspiring equestrian. She enjoys gardening, home improvement, literature, art, and film. She is an outdoors enthusiast who loves to hike, swim, kayak, and snow ski. She loves to travel, especially abroad, and she has an affinity for Ireland and everything Irish.

Knoxville Home Sales Report: May 2019

Going up!

Going up!

Going down…

Going down…

….and skyrocketing.

….and skyrocketing.

DEEP THOUGHTS:

1. Inventory has fallen under the 3 month supply line yet again (it’s only happened one other time in the last decade or ever that I know of).
2. Closings are WAY up, accounting for the inventory shortage.
3. Active listings are up, but not able to meet the demand of active buyers.
4. Listing prices are up all the way around. The average price of a 3 BR home in May 2018 was $198,531. In 2019 it was $213,176.
5. Interest rates are actually slightly down and there are a lot of good loan programs out there.
6. My crystal ball is not always reliable. If you had asked me last year if the market could hold this long, I would have said no. It appears that all anything is possible this summer. Enjoy that magic seller’s market while it lasts!

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: April 2019

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DEEP THOUGHTS:

1. Inventory hit a new 10 year low (OMG YOU GUYS HOW LONG CAN THIS LOW INVENTORY THING LAST?).
2. Closings are up (OMG SPRING SELLING SEASON IS ON LIKE DONKEY KONG).
3. OMG YOU GUYS WHY ARE ACTIVE LISTINGS NOT GOING UP?
4. Prices are booming (OMG WHY AREN’T YOU GUYS LISTING?).
5. Interest rates are low and down payment assistant programs are still available (BUT OMG I CANNOT FIND A HOUSE TO BUY).
6. Real estate agents everywhere are trying to find houses for their well qualified buyers to buy. it’s going to be a long summer (OMG SERIOUSLY PLEASE LIST YOUR HOUSE).

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: March 2019

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DEEP THOUGHTS:

1. Inventory just got even lower #justlistit
2. Closings were slightly down year over year, but low inventory and active listings may have something to do with that. #justlistit
3. Active listings also went lower. Again, #justlistit
4. Prices are the only thing that are continuing to go up, all across the board. #sellersmarket
5. Interest rates are still very low and financing is easy to come by. If you can find a house, #justbuyit
6. It’s still a seller’s market, and we need more sellers. Call me, we’ll talk.

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: February 2019

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DEEP THOUGHTS:

2019 is definitely still a seller’s market so far. How long will it last? Let’s break it down:

1. Inventory is still super low and the good houses and deals are going super fast.
2. Closings are still in line with 2018 and 2009, meaning they are very strong.
3. Active listings were flat, but still very historically low.
4. Prices are WAY up. How up? In 2018, the average price of a 2 BR or smaller home was 124,770 and in 2019 the average price was 141,254 . Wowza!
5. I repeat: interest rates are holding steady and down payment assistance programs are still available.
6. The sun is finally out and and so are the buyers. Sellers, start your listing engines!

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: 2018 Recap

DEEP THOUGHTS:

One thing 2018 was great for was real estate. Let’s chat about it.

1. Inventory remained historically low pretty much all year.
2. Closings were slightly historically higher than 2017, but a lot more seasonally adjusted.  
3. Prices were up across the board from 2017
4. Interest rates went up slightly, but it didn’t appear to impact home sales.
5. All in all, 2018 was almost a carbon copy of 2017. I expect a lot more upheaval in 2019, especially depending on the length of the government shutdown and what the Fed decides to do with interest rates.

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome our New Agent: Nicole Robinette

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The oldest of seven children, Nicole was born and raised in Bristol, TN. She has lived all over Tennessee in everything from a 1910 Bungalow to a 1925 Mediterranean, so she knows a lot about real estate and home styles. After earning a B.A. in Music in New York and an M.A. in film and video from the University of Memphis, Before following her dreams to sell real estate, Nicole worked in television broadcasting, non-profit and higher education, and customer service. She loves helping seller and buyers and also enjoys selling vacant land as well as houses.

When she’s not hard at work in the real estate trenches, Nicole is at home in North Knoxville with her spouse, 2 dogs, 1 cat, and 2 fish. She also plays keyboard and sings in both “Mojo Tweed” (a blues band) and is a keyboardist, singer and writer in the musical duo “News at Eleven.”

Welcome our New Agent, Laura Holland!

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You may be asking, why is a middle school librarian from Elizabethton, Tennessee so passionate about Knoxville Real Estate? The answer is simple but comes in a few different parts First, while Laura will always call Elizabethton her home, Knoxville is where she feels at home. She has been a native for going on nine years, and Good Ole’ Rocky Top is where she plans to stay. Secondly, she LOVES houses: old (especially) but new, too. Growing up, she always had a question about some house on some street and expected some answer! She is a librarian and loves teaching research and technology to students; however, her passion for houses has never gone away.  In 2015, she embarked on her first renovation project (that took a while longer than she would ever admit on record). This fixer upper experience it made her love houses and made her appreciate Knoxville even more. So after she finished her Doctorate Degree in Curriculum and Instruction, she immediately began taking the steps to become a real estate agent. The rest...well it’s history!

Welcome Our New Agent: Ryan Atkins

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A graduate of UT and long-time Knoxville resident, Ryan Atkins loves Tennessee. You can find him floating the river in the summer and snowboarding in the winter. As an artist, he shares his paintings throughout the Knoxville community and you can see some of his works hanging in Tupelo Honey from time-to-time, or at one of his pop-up shows that happen quarterly around the city.

In his past life, Ryan’s hunger for travel and adventure landed him in Ukraine teaching English and skydiving; got him lost on the streets of Paris; took him swimming with Sea Turtles in Barbados; tasted him the best beer in Belgium; drove him excessively fast on the German Autobahn; and floated him through the canals of Amsterdam.

When he wasn’t traveling and going to school, he was flipping houses with his family, or working at apartment complexes, which is where his curiosity and love for real estate began. Then life led him down a different road and he began a career in advertising where he learned many business and marketing skills that helped him be a top performer in his field.

Now older and more settled, he and his fiance, Ali, call Holston Hills home, where they recently bought a house. After switching careers from Advertising to Real Estate, his hope is to bring others into the vibrant communities of Knoxville so they can experience the closeness and lifestyle of the city while also experiencing the outdoor life that the oddly-rural features of the city accommodate.

Welcome Our New Agent: Daphne Hill

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Daphne Hill, Affiliate Broker


865-770-1884
daphne@trottamontgomery.com

Daphne is currently enjoying a Tennessee homecoming. Having grown up in the Norris/Lake City area, and after a living a number of years out of state, she is thrilled to call East Tennessee home again.

With a B.F.A. in Drawing from UT Knoxville, and an M.F.A. in Painting from Claremont Graduate University in Claremont, CA, Daphne’s background is in art and art education. She has taught painting and drawing to students from kindergarten to college and beyond. She has taught a number of special needs children and adults, and found her interactions with these students incredibly fulfilling. Daphne also taught inmates in a men’s maximum security prison in San Diego. This was a profoundly rewarding experience, and one that has helped shape her perception of people and the power of art, communication, and connection.

Daphne brings creativity, integrity, and heart to everything she does. She is committed to making your home buying or selling experience as smooth and positive as possible.

Daphne lives in her hometown of Norris with her husband, dog, and 2 cats. She has 2 grown sons, who are attending colleges on the West Coast. She enjoys spending time with family and friends, painting, and traveling

Knoxville Home Sales Report: June 2018

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DEEP THOUGHTS:

It's been a minute since June, and we've all felt the market cool a bit. However, June was hotter than July (possibly). 

1. Inventory was still historically low, if flat month over month. 
2. Closings were still historically high, if flat month over month. 
3. Prices were WAY up in June. The average price for a 3 BR home went from about $173,000 to $199,000 year over year. 
4. So far closings have closely tracked just above 2017. It will be interesting to see if we have that somewhat seasonal July dip and that HUGE August jump this year as well.

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: May 2018

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Deep Thoughts

  • It's a sellers market.  Remember when we thought that would never happen again? #neverforget
  • Inventory is still at record lows and sales are still at record high, making it a race to get to the next new listing. 
  • The Fed just raised rates by a quarter point and the rumor is that the THDA $15,000 money could run out at any moment. We will see in June and July if those two factors affect this crazy market. 
  • Prices are way up across the board once again, meaning a lot of these listings are selling for at or over list price.   
  • Appraisals are starting to catch up with the market value wise, which is giving agents a chance to breathe a little. Just a little. 
  • Yes, the market is hot. Yes, Knoxville is growing. And yes, bubbles have burst before. The question is: is this a bubble or is this solid ground. Stay tuned...

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: April 2018

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Deep Thoughts

  • Is this a seller's market or the new normal? I'm seriously starting to wonder. 
  • Inventory continues to be issue number 1. Only homes with major condition or location issues are not going into multiple offer as soon as they hit the market. 
  • Rates are remaining steady under 5%, meaning it is most likely still cheaper to buy than rent (if you can find a house to buy(. 
  • Prices are up across the board again, which is no surprise with buyers competing over almost every single listing.   
  • Appraisals are still not a lot of fun and are causing agents and sellers to practice holding their breath. 
  • Again, I say, is this the new normal? With more and more people moving to Knoxville and with our attractions and infrastructure growing, we may be getting some big city real estate problems. 

 *All information provided by KAAR (Knoxville Area Association of Realtors) and is for the greater Knoxville area including Knox County and surrounding counties. My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Knoxville Home Sales Report: March 2018

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Deep Thoughts

  • It's still a strong sellers market. Don't worry, buyers, this too shall pass. 
  • I have 99 problems, and only 1 listing. Seriously, there are no listings and that's making a lot of problems.  
  • The Fed bumped rates, but are still pretty low. However, they are saying they are going to get more aggressive raising them as the year goes on. Like I said, buyers, this too, shall pass. 
  • Prices are up across the board: supply, demand. You know the drill. 
  • Appraisers haven't quite gotten the supply/demand memo, and even though the market will bear higher prices, some appraisers are saying no.
  • All I know at this point is to expect the unexpected and anything goes. Should be a pretty fun Spring!

 *All information provided by KAAR (Knoxville Area Association of Realtors). My opinions are just that: opinions. I'm not really an expert in anything, but I do like to write about real estate. 

Welcome Our New Agent: Andrew Holloway

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Born and raised in Knoxville, Andrew can attest that there’s no place in the world quite like it. His love for Knoxville and experience working within some of life’s biggest moments make him an ideal fit for Knoxville’s real estate community.

With a background in special events and property management, Andrew has a unique sense of the importance of a real estate transaction. As an agent, Andrew prioritizes service to his clients, employing personal experience, knowledge, and compassion, so they can make the best decision for themselves and their loved ones. Andrew is best known for his positivity and professionalism.

In his free time, Andrew can be found perusing book stores, comparing one coffee shop with another (just to be certain of his favorites), refining what it means to be a cat dad, and winning dance off competitions - challenge him, if you dare!"

Knoxville Home Sales Report: February 2018

Knoxville Home Sales Report: February 2018

It's still cold outside, but the Spring Selling Season is upon us! Before we get excited about spring sales numbers, we still have to get in our Way Back Machine and take a look at what was happening in the greater Knoxville area in the recently released February 2018 home sales numbers from the Knoxville Area Association of Realtors (the kids call it KAAR). To the charts!

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