2018

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. 

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: January 2018

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These are average home sales prices from January 2017 over January 2018

These are average home sales prices from January 2017 over January 2018

Deep Thoughts

  • 2018 is starting off as a steady seller's market, but nothing is jumping off the charts just yet.   
  • Inventory was the story in 2017, but pricing may become the story of 2018, with the average sales price of a 3 BR home up 
  • Rates are rising slightly, but not alarmingly. Clam down. 
  • Multiple offers, backup offers, crazy offers: it's still the wild west out there, folks. 
  • Sellers still seem hesitant to jump in on this bizness, but I'm hoping that will change in the coming month, as Spring Selling Season is almost upon us. 
  • This is the first year in a while that I have ABSOLUTELY NO IDEA what to expect. Just stay tuned and let's enjoy the ride together, yes? Yes. 

 *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.