Knoxville Home Sales Report: January 2016

Hellooooo, 2016! My, you're looking fine! Inventory's low, sales are....well, you need to take a look a these charts for yourself and then read the breakdown of the Knoxville Area Association of Realtors (the artist formerly known as KAAR) January 2016 sales numbers for the greater Knoxville area.  Go!

What's Hot

  • Inventory - It's the lowest it's been in January, since, well, forever. 
  • Sales - We're starting this year out partying like it's 2007, because that was the last time January sales were this high.  
  • Rates - Still good, still low. 
  • Prices on small and big homes - First timers and 4+ BR move up buyers, file this under "What's not."
  • Spring: Well, it's warm, and I'll take that right now.  

What's Not

  • Listings - Again, the lowest since basically forever. Did I mention now is a great time to sell your house (see above).
  • Rentals - No, I can't find you a 3 BR house with a fenced yard in a "good" school zone. I really wish I could.
  • Prices on 3 BR Homes - The $150K-ish range took the hit for some reason in January. Maybe feeling the squeeze between the first-timers and move-up buyers?
  • Flurries in March: Over it. 

Deep Thoughts

  • January is starting out strong, if somewhat wacky, with low inventory, somewhat strong pricing, and super strong sales. 
  • Speaking of sales...the good homes are going faster than we can list them. This lack of inventory is very frustrating for buyers (hint, hint, sellers)
  • Pricing is still correcting and may do so for the rest of the year and heck, maybe even next year. It took a pretty crazy ride, after all.
  • The numbers aren't in yet, but the Spring Selling Season jump started in February, and I have a feeling we're going to have a LOT to talk about next month. 

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