Knoxville, TN Market Update – November 2016

Chattanooga Market Update - Chattanooga mortgage broker

October home sales remained on track with the rest of the third quarter, which is surprising for this time of year.

This year, home sales in October accounted for nearly a third of the quarter’s sales in Knoxville. Of the 4,354 single family homes sold in these three months, 1334 were sold in October. This number is up slightly from the 1,229 homes sold the same month a year before.

Not included in these figures are the pending sales for Knoxville single family homes. As of November 1, there were 2097 pending home sales. Compared to October of a year earlier, this year has roughly 80 per cent more pending sales.

The greater demand for Knoxville homes had left fewer homes available on the market. In October of 2016, there were 7301 active listings for single family homes, 19 per cent less than the number of active listings in October of 2015.

With demand steadily increasing for homes in Knoxville, know is the time to contact a local Knoxville mortgage lender.

By consulting with a local mortgage professional, you will have access to a greater wealth of information, which will make your home financing decisions easier.

A large part of my job is staying up to date on Knoxville mortgage news and trends. I use this knowledge in combination with the Knoxville mortgage calculator that I offer my clients, to provide an in depth look at your mortgage options.

This information is important to have and to consider when deciding what Knoxville mortgage is right for you.

If you are interested in purchasing a home, or even refinancing an existing mortgage, I am here to offer my knowledge of the mortgage industry and to assist with any of you mortgage related needs.

Please feel free to contact me at (865) 474-1757 with questions you may have.

Let’s start calculating your future, today!

Source: https://kaarmls.com/sites/default/files/3rdqtr16nar.pdf

Source: https://kaarmls.com/sites/default/files/oct16nar.pdf

Source: https://kaarmls.com/sites/default/files/oct15nar.pdf