The Knoxville Area Association of Realtors has new data on how the real estate market fared during the month of August.
The median home sale price was $289,000, a 22.2% increase from a year ago.
Home sales declined 0.3% but are still up 4.5% year-over-year. Half the homes sold in August went under contract in three or fewer days.
Housing demand in Knoxville is holding strong and absorbing the new inventory hitting the market, said Hancen Sale, government affairs and policy director for KAAR.
The organization tracks real estate data for a 12-county region.
“Active listings have hovered around 2,400 for nine consecutive weeks, which isn’t necessarily a bad thing since inventory typically falls in the latter half of the year,” Sale said.
Here’s a look at home sales for the week of Sept. 26.
Home sales for the week of Sept. 26
Active listings, or number of listings on the market in the Knoxville area during the time period:…