Knoxville Home Sales Report: March 2017

It's only April, but it's hotter than July outside...maybe the Knoxville housing market is heating things up? Yep, these numbers are pretty spicy, so grab some sunscreen and protective gear as we break down the greater Knoxville area home sale report numbers from the Knoxville Association of Reators (all the cool kids call them KAAR). To the charts!

What's Hot

  • Sales - It's a bird, it'a a plan, it's the dang March sales numbers!
  • Prices: Up, up, and away! Prices are on the rise across the board. 
  • Appraisals - Keeping the market in check, keeping agents from cancelling their therapy sessions.
  • Rates: On the rise, but still historically very low. 
  • Any New Listing Ever: Well, at least the ones under $250,000. List it at 8am, sell it at 8pm. 

What's Not

  • Inventory - This line looks a little bit more like the Titantic after it hit the iceberg. Hopefully, our hearts (and our real estate market) will go on.
  • Listings - Where are they? Why are they hiding? What are they scared of?
  • Rentals - Also playing hard to get. 
  • THDA Grant Money + Lack of Inventory = a whole lot of first timers desperately looking for a home.

Deep Thoughts

  • Sales are super high and inventory is super low. If we've ever been here before, I haven't heard about it. What will happen when there simply aren't any more homes to sell? 
  • All this THDA grant money coupled with a lack of inventory and a sellers' market is making for a lot of interesting house hunting and frustrating negotiations. 
  • Appraisals are still coming in low and with conditions, which is a) somewhat keeping the market in check pricewise and b) making all agents need nerve pills. 
  • Rates are above 4 percent and holding below 5...for now. The risk of rising rates is definitely getting a lot of fence sitting buyers into the market. 
  • Spring Selling Season is here but we don't have a whole lot of homes to sell. So, call me, maybe?

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.