Knoxville Home Sales Report: March 2016

I never meant to cause you any sorrow. I never meant to cause any pain. I wanted one time was to see you laughing. I only want to see you laughing about the dotted purple line on these charts for the March 2016 Home Sales Numbers from the Knoxville Area Association of Realtors (the real estate board formerly known as KAAR). 

What's Hot

  • Inventory - The inventory elevator is bringing us down (that means it's REALLY low 
  • Sales - Agents are partying like it's 1999, or better yet, 2005. Yeah, they're THAT good. 
  • Rates - Still low, still making renting seem like riding a bike when you could be driving a little Red Corvette. 
  • Prices: No controversy here: prices were up across the board in March. 
  • Multiple Offer Situations: It's a sign o' the times, but we keep seeing multiple offers on the good properties. 

What's Not

  • Listings - We don't have nearly enough and this IS what is sounds like when doves cry. 
  • Rentals - Why do we scream at each other? Because there isn't any rental inventory either. 
  • Fence Sitting - Gett off that fence. It's no good for buyers or sellers. 

Deep Thoughts

  • March ends the first quarter on a strong note, with high sales, higher prices, and rock bottom inventory. 
  • It's officially a seller's market, so home buyers, please adjust your expectations accordingly. 
  • Sellers, go ahead and list, and buyers, go ahead and get pre-qualified. 
  • I've already lived through April and I've seen the May sales that are in pending. This summer is not going to cause you any sorrow OR pain. 

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.