Market Reports & Trends
Real data, real trends, real context — what's happening in the Knoxville real estate market right now, and what it means for you.
July 27, 2026
Knoxville Market Snapshot
The Knoxville housing market continues its gradual shift toward balance through late July 2026. Inventory levels have climbed significantly — active listings across Knox County are up roughly 9-12% year-over-year, with months of supply now around 3.1-3.4 months and approaching the 4.0-month threshold widely considered balanced. Homes are spending more time on the market, averaging 57 days metro-wide compared to 46 days a year ago. Roughly 59% of sales are closing below asking price, and over half of active listings have taken at least one price reduction. Demand remains solid underneath the surface: steady in-migration from higher-cost metros, the University of Tennessee, Oak Ridge National Laboratory, and a growing technology corridor continue to anchor the market. The split between well-priced, move-in-ready homes and stale listings is sharper than it has been in years. In premium pockets like Farragut and Oak Ridge, the right property still attracts strong offers within weeks, while overpriced or dated homes can sit for 70-plus days. For buyers, this is the most favorable market Knoxville has offered since 2019.
Median Home Price
$357K
+2-4% YoY
Avg. Days on Market
57
Up from 46 last year
Months of Supply
3.1-3.4
Trending toward balanced
Sale-to-List Ratio
97.9-99%
More room to negotiate
Sources: Redfin (Knoxville metro, Q1-Q2 2026), PropCash (Q2 2026), Houzeo (April 2026), Fogarty Group/Realtor.com (May 2026), Zillow (June 2026), 865 Real Estate (2026), RealtyTrac (Q2 2026), Movoto (June-July 2026), Freddie Mac PMMS (July 23, 2026).
If You're Buying
This is the most buyer-friendly the Knoxville market has been in years. Inventory growth of 9-12% year-over-year means more choices, less bidding-war pressure, and genuine room to negotiate — especially outside the premium pockets. Nearly 59% of homes are selling below asking price, and over half of active listings have been repriced at least once. That said, well-priced homes in Farragut, Hardin Valley, and Oak Ridge still move quickly — Farragut in about 30 days and Oak Ridge in around 35-42. The split market is real: desirable properties in top school zones attract strong offers within weeks, while overpriced or dated listings can sit for 70-plus days.
Bart's tip: If you're flexible on location, look at South Knoxville and Lenoir City — both offer strong appreciation potential at significantly lower entry points than Farragut. With months of supply now around 3.1-3.4 metro-wide, you have more leverage than buyers have had since 2019. For relocating families, I always recommend visiting a few neighborhoods in person before committing. I can help map your daily commute, school priorities, and lifestyle preferences to the right pocket of the metro.
If You're Selling
Sellers are still in a solid position in the $300K–$600K range where demand outpaces supply, but the days of list-it-and-watch-multiple-offers-roll-in are mostly behind us. The sale-to-list ratio sits around 97.9-99%, and the average discount from asking is about 1-2% — a clear shift from the bidding wars of 2021-2023. Properties in Farragut, Sequoyah Hills, and Hardin Valley still command premium prices, but buyers have more leverage and patience than they did two years ago.
Bart's tip: Pricing strategy matters more now than it has in years. Overpricing by even 3–5% can leave your home sitting while comparable properties sell. Invest in professional photography and a pre-listing inspection — these small steps consistently yield higher offers and smoother closings. With nearly 59% of homes selling below asking, pricing right on day one is the single biggest factor in a successful sale. I'll help you land at the sweet spot.
Median Prices by Area
Approximate median sale prices for single-family homes in the Knoxville metro's most-searched suburbs.
| Area | Median Price |
|---|---|
| Sequoyah Hills | $875K |
| Farragut | $787K |
| Hardin Valley | $543K |
| Lenoir City / Loudon Co. | $477K |
| West Knoxville | $410-676K |
| Oak Ridge | $395K |
| Powell | $365-385K |
| South Knoxville (SoKno) | $362-375K |
| Knoxville Metro Avg. | $357-377K |
Sequoyah Hills — Redfin, 3 months ending May 2026. Farragut — Redfin & Movoto, June 2026. Hardin Valley — Zillow (37932) & Homes.com, June 2026. West Knoxville — RealtyTrac (37922/23), July 2026. Oak Ridge — Redfin & Movoto, June-July 2026. Powell — Zillow & Movoto, July 2026. SoKno — Redfin & RealtyTrac (37920), 2025-2026. Lenoir City/Loudon — Zillow & Redfin, June-July 2026. Metro avg — Zillow, Redfin, Houzeo & PropCash, Q2 2026.
Neighborhood Intel
What Makes Each Area Unique
Farragut
Farragut continues to be the premium family destination in the Knoxville metro — and the data backs it up. The median sale price hit $787K, surging nearly 15% year over year (Redfin, 3 months ending May 2026). Movoto reports 32 active listings with a median list price of $777K as of June 2026, and homes average 30-66 days on market depending on the source. Days on market have lengthened notably from 28 days a year ago, signaling that even in Farragut, buyers are taking more time. Prime properties in desirable school zones still attract strong offers quickly. Top-rated Farragut schools, well-maintained neighborhoods, and proximity to Turkey Creek shopping keep demand steady. Average price per square foot sits at $275, up over 10% from a year ago. If you're targeting Farragut, the pricing sweet spot has become narrower — priced right and move-in-ready still sells fast, but overpriced listings are sitting longer than they did in 2024-2025.
Hardin Valley
Hardin Valley remains one of the hottest growth corridors in the metro — Zillow's average home value sits at $543K as of May 2026, up 1.3% year over year, with Homes.com showing a median sale price of $594K. Homes typically go to pending in about 23 days, with total days on market averaging 23-51 days depending on source. The market is less frenetic than it was a year ago, but demand remains solid, especially for newer construction. Price per square foot sits around $247-$253, still offering solid value relative to Farragut. Builders continue breaking ground across the corridor, and this is one of the few pockets where meaningful new inventory is entering the market — expect more options and negotiation room for buyers in the second half of 2026. With 72-167 homes currently listed (depending on the source), the range is wide — from the mid-$200Ks to over $4M — reflecting the area's mix of starter homes, new construction, and executive estates.
West Knoxville
The broader West Knoxville corridor (37922/37923) offers the widest price range in the metro — from starter homes in the low $300Ks to executive properties north of $650K. RealtyTrac reports 37922 at a median value of roughly $676K and 37923 at $410K — reflecting the corridor's diverse housing stock. Price per square foot averages around $228 across both ZIPs. Days on market have lengthened to about 55 days, reflecting the broader market's shift toward balance. This area benefits from proximity to Farragut's amenities and the University of Tennessee without the top-dollar price tag — a sweet spot for relocating families who want flexibility in their budget. Over the past 12 months, 559 properties sold in 37922 and 391 sold in 37923, demonstrating steady absorption despite the slower pace.
Sequoyah Hills
Knoxville's most prestigious in-town neighborhood continues its measured pace — the median settled at $875K, up 2.9% year over year (Redfin, trailing 3 months ending May 2026), a deliberate slowdown from the double-digit gains of prior years that reflects the natural ceiling at this price point. Homes now average 44-47 days on market, up significantly from 30 days a year ago, suggesting a more discerning buyer pool. Price per square foot sits at $337, with individual properties in the $1M+ range routinely exceeding $400 per square foot. Movoto's July 2026 median list price of $927K signals that sellers remain optimistic, though the market is clearly shifting toward balance. Tree-lined streets, historic charm, and Tennessee River access remain the core draw. Inventory is limited, and well-maintained homes in the heart of the neighborhood still command premium pricing with minimal room to negotiate.
South Knoxville (SoKno)
South Knoxville remains the metro's most compelling emerging story — Redfin's most recent data shows a $375K median (2025), while RealtyTrac reports $362K with 732 properties sold over the past year. The area continues to gentrify at a measured but steady pace. The Urban Wilderness trail system, Ijams Nature Center, and a growing restaurant and coffee scene are drawing young professionals and outdoor enthusiasts. Redfin gives the market a "somewhat competitive" score of 52 out of 100, with homes averaging 42-59 days on market — giving buyers more breathing room to find the right property. The key thing to know about SoKno is that it is not one market — it is a patchwork of micro-neighborhoods with very different feels. Some pockets near the river are already well-established, while others further south are just beginning to see investment. For buyers who want Knoxville proximity without the Farragut price tag, this is the most interesting pocket to watch.
Powell
Powell sits just north of downtown Knoxville and offers some of the best value in the metro at a $365-385K median. Zillow's average home value of $365K is up 2.1% over the past year, and homes go pending in about 18 days — a sharp contrast to the broader metro. Movoto reports 185 active listings as of June 2026, average days on market around 33, and a median list price of $395K. Price per square foot sits at around $204. The market in Powell is tightening — inventory is not surging like much of the rest of Knox County, keeping the area somewhat competitive (Redfin score of 52/100). Zillow projects about 4.8% home value appreciation over the coming year. For first-time buyers and investors, Powell remains an accessible entry point with strong long-term fundamentals.
Lenoir City / Loudon County
Lenoir City and the broader Loudon County area offer a compelling combination of small-town charm and proximity to Knoxville — though the market has cooled noticeably from its peak. Zillow shows Lenoir City's average home value at $419K as of May 2026, up 1.9% year over year, with homes going to pending in roughly 13 days and Homes.com reporting 37 days on market. Loudon County shows a median of $477K (Redfin, January 2026) with the average home value at $454K (Zillow, June 2026). Days on market have lengthened significantly — homes are averaging 37-91 days depending on the area and source, and inventory is at its highest level in three years, giving buyers more choices and better negotiating leverage. This area continues to attract retirees, remote workers, and families seeking more space — Fort Loudoun Lake and the Appalachian foothills provide a beautiful backdrop. The slower pace is not necessarily bad news; it means a more balanced market where buyers and sellers can negotiate without pressure.
Oak Ridge
Oak Ridge remains one of the hottest submarkets in the metro — prices jumped 14.4% year over year to a $395K median (Redfin, trailing 3 months ending May 2026), one of the strongest gains anywhere in Knoxville. Zillow's average home value sits at $332K as of June 2026, up 2.6% year over year, with homes going to pending in roughly 14 days. The city's powerful employment base (Oak Ridge National Laboratory, Y-12 National Security Complex, and related tech employers) drives consistent buyer demand that few other suburbs can match. Price per square foot sits at $182 (Redfin), still offering excellent value relative to West Knoxville or Farragut. Movoto reports 134 active inventory units as of June 2026 with a median list price of $384K and 42-56 days on market. The sale-to-list price ratio remains strong at 98.6%, and the market is beginning to normalize compared to the torrid pace of 2024-2025. With prices ranging from $65K to $2.2M, Oak Ridge offers one of the widest entry-point ranges in the metro. If you are drawn to this market, the window for maximum value is still open, but it is narrowing.
Outlook
Knoxville Market Forecast: Next 3-6 Months
Price Trajectory
Expect modest appreciation of 2-4% metro-wide through the end of 2026, with premium neighborhoods (Farragut, Hardin Valley, Oak Ridge) continuing to outpace the average. The market has shifted from frantic growth to steady, sustainable gains. Short-term forecasts (6 months) call for flat to slightly positive movement (0-2%), with medium-term (12 months) showing more optimism at 3-5% growth. A major correction is considered unlikely by analysts — the market is normalizing after years of rapid appreciation, not collapsing. Higher inventory levels mean buyers will continue to have leverage they haven't had since 2019.
Inventory & Supply
Supply has climbed to 3.1-3.4 months metro-wide — approaching the 4-6 months considered balanced and up from roughly 2.5 months a year ago. New construction in Hardin Valley and West Knoxville is meaningfully adding inventory, which should ease competition for buyers in those corridors. However, Powell is seeing a notable exception: homes there go pending in just 18 days, and inventory levels are tighter than much of the metro. More than half of current listings have reduced their asking price at least once, and roughly 59% of sales are now closing below list price — clear signals that overpricing is no longer tolerated by the market.
Interest Rates & Affordability
Mortgage rates have edged slightly higher in late July 2026, with Freddie Mac PMMS reporting the 30-year fixed rate at 6.58%, up from 6.49% earlier in the month. Fannie Mae, the Mortgage Bankers Association, and other forecasters project rates in the 6.1-6.3% range by year-end as inflation cools. Rates are not expected to drop significantly below 6% in the near term. Knoxville remains significantly more affordable than Nashville, Charlotte, or Atlanta for comparable homes — a key driver of the continued in-migration that supports local demand. For a median-priced home, monthly payments in Knoxville are roughly 30-40% less than in Nashville.
Buyer Demand & Competition
Relocation buyers continue to fuel demand, especially in the $300K-$600K range where most relocating families land. The market is increasingly split: well-maintained, correctly priced homes sell in under 30 days with strong offers (especially in Farragut, Powell, and Oak Ridge), while overpriced or dated listings can linger for 70+ days. The absorption rate of roughly 3 months of supply signals healthy demand without frenzy. Powell is a standout — homes there go pending in just 18 days despite the broader metro slowdown. Working with a local agent who understands these micro-market dynamics makes a real difference — pricing right on day one is more important now than at any point since 2021.
Forecast based on data from Redfin, PropCash, Houzeo, FRED, JVM Lending, Norada Real Estate, the Mortgage Bankers Association, Fannie Mae, the Knoxville Area Association of Realtors, 865 Real Estate, RealtyTrac, Movoto, Fogarty Group, and Freddie Mac PMMS, Q2-July 2026.
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