Homes sell fast, property transfer stats
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.
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