months of supply

Knoxville Home Sales Report: August 2019

KAAR Active Listings (2).png
KAAR Months of Supply (1).png
KAAR Closed Units (2).png

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: 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: September, October, & November 2016

Knoxville Home Sales Report: September, October, & November 2016

Hey, girl, hey! Hey. Yeah, so... I'm a little behind on this here home sales stuff. And yeah, I'm kind of embarrassed about it. But the good news is this: I'm gonna catch you up in a jiffy! First let's take a look at the charts (with info courtesy of the Knoxville Area Association of Realtors, secret service code name, "KAAR." Ready? Set. Go!

Read More

Knoxville Home Sales Report: October 2015

Knoxville Home Sales Report: October 2015

Chirstmas is coming, but it's just now time to see what swag we got in our pillow cases back in October. Tricks or treats? Well, since Santa is almost here, let's dig into a short and sweet version of the Knoxville Home Sales Report breakddown and find out!

Read More