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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 | December 2023

SO WHERE DO WE GO FROM HERE?

2023 has come to a close, and as expected, we did not see a real estate market crash. Home prices are still up around 9% from the end of 2022.

While some appreciation is projected for 2024 (especially in the lower price points) home prices, as a whole, appear to have plateaued in Knox County. The median home price in our area has been relatively flat since September. With interest rates declining, this is a welcomed sight for those looking to buy a home.

Homebuyers should also enjoy more homes to choose from in 2024 as the inventory of homes for sale is projected to rise throughout the year.

As a result of rising inventory, home sellers should expect to experience a longer amount of time on the market. With buyers having more homes to choose from, pricing one’s home correctly will be crucial to getting it sold quickly.

HOWEVER, if interest rates continue to drop into the low-to-mid 5% range, another tsunami of homebuyers could enter the market. This scenario could potentially put Knox County back into a red-hot real estate market status with multiple offers and very short amounts of time on the market for listings that are properly listed.

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Knoxville Housing Market Snapshot | October 2023

EYES ARE ON INTEREST RATES

After weeks of consistent increases, mortgage rates dropped below 8% after news that the Federal Reserve did not raise the “fed funds rate”. This is welcomed news for the housing market. Most experts and leaders in the mortgage industry are still predicting declining interest rates in 2024. However, the timing of this trend is still unclear.

As for home prices, there is no decline/depreciation in sight, especially for Knoxville. The average home sales price in Knoxville was up almost 10% last month compared with October 2022. Despite decreasing demand (buyers in the market) due to higher interest rates, the overall supply of available homes remains extremely low.

However, there are indications that home prices should stabilize as we head into the new year. The Knoxville housing inventory has been increasing steadily since the late summer.

The home absorption rate (number of months it will take to buy up the current number of homes on the market) is the highest it has been in the past 12 months at 1.61 months. That said, this number still reflects a strong seller’s market, but the upward absorption rate trend indicates that we’re moving towards a more balanced market. For some perspective, most economists consider an absorption rate of 4 to 6 months to be a balanced market and anything over 6 months to be a strong buyer’s market. We’re still VERY FAR from either of those scenarios.

If you’re interested in what the real estate market is like in your area, check out our local market reports.

Selling Knoxville | Episode 1

Episode 1 has finally been released! This episode can also be seen on affiliates of FOX, ABC, CBS, NBC, and CW (Market dependent, but will air on a prominent TV network and time). And on digital networks such as Amazon Fire, Apple TV, and Roku.

Selling Knoxville is a show centered around all the cool and interesting things going on in the Greater Knoxville area! In this episode, Holli takes you to some of downtown Knoxville’s coolest restaurants and bars.

Check out Holli’s segment: at 13:55

If you’re thinking about buying or selling a home in the Knoxville area, we’d love to connect with you. The fastest way to reach us is to call or text us at (865) 355-0542. You can also click here to contact us!

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