Buyer activity remains high by historical standards even though the housing market has slowed from its record high earlier this year, according to seasonally adjusted data from the Knoxville Area Association of Realtors.
“New pending listings, a proxy for buyer demand, are up 78% compared to the same week in 2019,” said Hancen Sale, government affairs and policy director for KAAR. “Similarly, median days on market is down 68% from 2019.”
Here’s a look at Knoxville’s real estate market for the week of Oct. 24.
Knoxville real estate snapshot:Existing home inventory hits lowest point since early July
Home sales for the week of Oct. 24
Active listings, or number of listings on the market in the Knoxville area during the time period: 2,210 (2,342 previous week)
New pending sales, or number of listings that went from active to pending during the time period: 642 (577 previous week)
Median days on market during the time period: 7 (9 previous week)