Holli McCray Group | Latest Information

Knox County Housing Market Snapshot | April 2025

GOOD VIBRATIONS

As we head into what has traditionally been the peak months for home sales, there are some positive signs in our housing market. Both pending home sales and housing inventory have risen steadily since the start of 2025. Median home prices are also still about 7% higher than they were at this time last year.

That said, the uncertainty of the direction that mortgage rates and the economy are going continues to keep many potential homebuyers on the sidelines. Should we see a moderate decline in mortgage interest rates in the coming months, it is likely we’ll have a significant increase in home sales. However, most of the experts in the mortgage industry are not expecting interest rates to change much in 2025.

Overall, the supply of homes in Knox County is still well below what is needed to meet the present and future demand. This is the primary factor that is keeping median home prices higher, despite more homes being on the market in our area.

Conclusion? While homebuyers do have a lot more leverage than they did a few years ago, Knox County is still a “seller’s market”…

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How will tariffs affect the homebuilding industry?

The recently imposed tariffs on goods such as lumber and concrete have a direct impact on the homebuilding industry. If the costs of these goods rise due to these tariffs, then it could cause builders to raise the prices of their homes or stop building altogether because their margins would become too tight

Our good friend and client, Dan Mitchell, discusses the impact of tariffs on the homebuilding industry with Jake Tapper on CNN.

Check out Dan’s newest development in Louisville, TN: https://liveineaglecliffs.com

Knox County Housing Market Snapshot | March 2025

HOUSE LISTINGS & INVENTORY ON THE RISE…

The upward trend of new listings and housing inventory continued in March. More specifically, our total housing inventory is up over 35% from a year ago.

The increased number of homes on the market continues to push up the number of days that homes remain unsold. In addition, fewer homes are selling for the full asking price because of increasing competition in the market.

That said, home prices in Knox County are still slightly higher than a year ago. Despite higher housing inventory, the overall demand for homes in our area is keeping prices relatively steady.

Our local economy remains very strong with tremendous growth potential. Therefore it’s still a good time to be buying or selling real estate in this area, especially with recent declines in mortgage interest rates.

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Selling Knoxville | Episode 11

Selling Knoxville is a local lifestyle show highlighting the Greater Knoxville area! It is currently streaming on Amazon Fire, Apple TV, and Roku.

In this episode, Holli goes behind the scenes at the 2025 Greater Impact Realty Awards to see what makes it such a great real estate firm and why Home Marketing Group merged with them in March 2025 to open Greater Impact Realty Knoxville… T

To learn more about our merger with GIR, visit https://hollimccray.com/big-announcement/

Knox County Housing Market Snapshot | February 2025

THE NUMBERS DON’T LIE…

Despite housing inventory being up over 33% from this time last year, home prices have remained steady. This shows us that there is still a high demand for homes in the Knoxville area.

And while it’s taking longer for homes on the market to sell, and the days of multiple offers coming in tens of thousands of dollars over the list price are gone, it is still a good time to sell your home in this area.

As for mortgage rates, they’ve trended downward over the past 30 days. Last month, 30-year mortgage interest rates were well over 7%. This month, they’re well below 7%. Hopefully this trend continues, but with so much uncertainty in the current economy, it is next to impossible to predict where interest will go.

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Big Announcement!

We are so excited to announce the merger between Home Marketing Group and Greater Impact Realty!

We have spent the past few years working on enhancing our business to ensure that we were providing the best experience for both our agents and clients in the midst of a challenging real estate market.

As part of this growth journey, we made the strategic decision to join forces with an amazing real estate company that offers a first-class culture, excellent systems, and top-notch support for both agents and clients.

A few FAQs…

Does anything change with Holli and her team?
- Nothing changes, other than some new logos, signs, and branding. Holli and her advisors are still available to assist you.
Will your fees change?
- They will not. We still offer flexible listing fees.
Will you guys still offer the same marketing and support?
- Absolutely! In fact, we can offer even more value to our clients as a result of this merger. We also now have an internal network of over 200 agents throughout East Tennessee to help us find buyers to purchase our listings.

If you have any additional questions or are thinking about selling your home this year, please feel free to contact me.

Knox County Housing Market Snapshot | January 2025

NAVIGATING FOGGY WATERS

Home sales and home prices both continue to remain higher than they were 12 months ago. This indicates that the demand for housing in Knoxville remains relatively strong.

That said, total housing inventory is up almost 30% from this time last year. Should our housing inventory continue to increase, this will put downward pressure on home prices as homebuyers will have more listings to choose from. Also, the number of homes sold at or above the list price is WAY down from what it was in early 2024, which is another indicator that we may be heading into a more “buyer’s market” in 2025.

Housing affordability remains a major issue for our area. Some experts believe that only about 25% of those looking to buy or sell a home right now are able to do so comfortably. Should interest rates drop significantly in the coming months, this should spark more demand for homes that could potentially push prices upward.

Overall, the direction of our housing market is murky at best right now. Depending on how some key factors play out will determine how home prices, housing inventory, and home affordability evolve in the Knoxville area.

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Selling Knoxville | Episode 10

Selling Knoxville is a local lifestyle show highlighting the Greater Knoxville area! The show is currently streaming on Amazon Fire, Apple TV, and Roku.

In this episode, Holli sits down with board members from the Greater Knoxville Homebuilders Association to discuss the housing challenges in Knoxville and what the association is doing to improve them.

To learn more about the Homebuilders Association of Greater Knoxville, visit https://www.hbaknoxville.com/

Knox County Housing Market Snapshot | December 2024

COOLING DOWN…

Despite home prices being up over 7% from last year, several indicators reveal that the Knoxville housing market is slowing down as we close out 2024.

Our average “days-on-market” for homes listed shot up to its highest level in years (54 days). Our list price-to-sales price ratio also continued its downward trend and fell to its lowest level in 2024.

A year ago, many predicted that mortgage rates would be in the 5% range at the end of 2024 and the housing market would be booming. What actually happened was that 30-year mortgage rates finished the year above 7% and 2024 was one of the slowest housing markets in terms of transactions our country has seen almost 30 years.

Experts, once again, predict that interest rates will decline in 2025, but not by much. And those waiting for a market crash will likely need to be very patient because there is no indication of any massive home price depreciation coming to our fast-growing area any time soon…

Our advice? Don’t try and time the real estate market. Go ahead and buy or sell a home if it helps improve your lifestyle and/or financial situation. Nobody is predicting that homes will get cheaper over the next 5 years…

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Selling Knoxville | Episode 9

Selling Knoxville is a lifestyle show that highlights some of the cool and interesting things going on in the Greater Knoxville area! It is currently streaming on Amazon Fire, Apple TV, and Roku.

In this episode, Holli meets with Harper Jones, a Knoxville-based insurance advisor specializing in Infinite Banking. He works with people to use whole life insurance policies to not only build wealth but also create easy access to capital so they never need to borrow money from a bank ever again.

To learn more about Harper and Infinite Banking, visit https://lifewithleverage.com/ Continue reading…