May 2021 Home Sales
Knoxville’s real estate market remains hot as demand is high and supply is at an all-time low. The Knoxville Area Association of Realtors compiles data each month to track what’s going on in the Knoxville area market. Here’s what May 2021 looked like.
Things to know:
- Home sales (seasonally adjusted) went down 14.5% compared to the previous month. KAAR reports month-to-month changes and home sales patterns using a seasonally adjusted annualized rate, which takes into account typical seasonal fluctuations in data and is expressed as an annual total. Comparing month-over-month housing market data using this method provides a more accurate depiction of home sales.
- Asking price is a starting point. More than 68% of homes sold in May went for listing price or above.
- Almost 10% of homes sold in May went for at least $25,000 over asking price.
BUYING:Want to buy a house in Knoxville? Here’s how to compete
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RECENT HOMEBUYERS:Two explain what Knoxville’s real estate market is really like
Number of listings sold:
- May 2021: 1,926
- May 2020: 1,570
- Percentage change: +22%
- May 2021: $265,000
- May 2020: $214,950
- Percentage change: +23.3%
Sale-to-list price ratio:
- May 2021: 100.1%
- May 2020: 96.6%
- Percentage change: +4.5%
Median days on market:
- May 2021: 3
- May 2020: 13
- Percentage change: -76.9%
Property Transfers
Knox County Register of Deeds Nick McBride records legal documents pertaining to real property including warranty deeds, deeds of trust, releases, powers of attorney, liens and other miscellaneous documents.
Here’s a snapshot of business in Knox County through June 23.
More:The stories behind some of Knoxville’s most notable properties on the market
Foreclosures, year-to-date:
2021: 45
2020: 83
New subdivisions or divisions of property:
2021: 261
2020: 264
Trust deeds, year-to-date:
2021: 14,356 deeds totaling $4,008,832,200
2020: 11,022 deeds totaling $2,866,400,591
Warranty deeds, year-to-date:
2021: 7,219 deeds totaling $2,309,078,024
2020: 2,898 deeds totaling $1,618,000,919
Property transfers by value for the week of June 23:
More than $1 million: 9
$900,000-$999,999: 2
$800,000-$899,999: 3
$700,000-$799,999: 5
$600,000-$699,999: 5
$500,000-$599,999: 15
$400,000-$499,999: 31
$300,000-$399,999: 51
$200,000-$299,999: 91
$100,000-$199,999: 60
Up to $99,999: 24
Growth and development editor Brenna McDermott can be reached at brenna.mcdermott@knoxnews.com. Follow along with her work on Twitter @_BrennaMcD. Support our local news efforts by becoming a Knox News subscriber.
