The local housing market remains resilient despite stubborn interest rates. New listings are up 26% over last year providing more options for buyers and resulting in an increase in showings of 15%. Meanwhile, prices continue to rise, averaging an increase of 10% over last year.
According to a recent report by Attom Data, the Knoxville area ranked number 2 in the country of metro areas with highest return-on-investment (ROIs) on the typical home sale last year with the typical Knoxville home seller experiencing a profit margin of 98.1% in 2023, compared to an average profit margin of 59.8% nationally.
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