Knoxville Market Update
Here are some interest stats from the Knoxville Area Association of Realtors.
Stat Highlights from KAAR
A new report released by the National Association of REALTORS® (NAR), titled "2022 Housing Market Hidden Gems," found that nearly 10,000 people moved to the Knoxville metro area during 2020 — which amounts to more than 25 people per day.
Due to strong market fundamentals and low cost of living, Knoxville was ranked as one of the United States's Top 10 "Hidden Gem" Housing Markets for 2022 by the National Association of REALTORS® (NAR).
Rents in the Knoxville metro area continue to rise according to multiple rental market indicators, up more than 18% in November from one year ago. Rent growth in Knoxville is higher than the national average of around 12.5%.
Half of the homes sold in November were under contract in 6 days or less, down from 8 days in November 2020.
These stats are for 2020, with what we have seen in 2021 and already seeing in 2022 I believe the new numbers will be even stronger.