Knox County Housing Market Snapshot | July 2025

Knox County Housing Market Snapshot | July 2025

📊 July 2025 Knoxville Home Sales Snapshot 🏡

 
📈 Housing Inventory is up 37.7% YoY
💰 44.4% sold at or above the final asking price
🏆 4.3% of homes sold for $1M+ — highest this year
🔨 13.5% of sales were new construction
📉 Price growth remains flat, but demand is steady
 
➡️ While affordability challenges persist, the market still favors sellers — especially for move-in ready homes. Most buyers are current homeowners waiting for the right opportunity.

Knox County Housing Market Snapshot | June 2025

Market Snapshot | June 2024

✅ Home sales were up 3.4% from April, but still down 4.8% compared to May 2024.
 
💰 Median sale price is still 1.3% higher than last year.
 
📈 Inventory is growing — up 40.3% year-over-year, topping 7,000 active listings for the first time since 2019!
 
⏱ Homes are selling a bit slower, with the average “days on market” almost 40% higher than last year.
 
🏠 About 45% of homes sold at or above asking price.
 
🔨 New construction houses now make up just 12.2% of all sales.
 
Outlook:
We expect moderate growth for the rest of 2025, with our forecast adjusted to 6.1% annual sales growth (down from 8.3%). A drop in mortgage rates could boost fall sales, but buyers still need more affordable options (85.7% of active listings are over $250,000)
The market has the right ingredients for growth, but homebuyers need more choice and better affordability to truly thrive.
 
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