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.
