{"id":47656,"date":"2024-08-29T11:40:33","date_gmt":"2024-08-29T18:40:33","guid":{"rendered":"https:\/\/www.homelight.com\/blog\/?p=47656"},"modified":"2026-04-05T23:45:30","modified_gmt":"2026-04-06T06:45:30","slug":"home-values-in-knoxville","status":"publish","type":"post","link":"https:\/\/www.homelight.com\/blog\/home-values-in-knoxville\/","title":{"rendered":"Home Values in Knoxville: What Sellers Need to Know"},"content":{"rendered":"

Curious how much your home is worth in Knoxville\u2019s dynamic real estate market? Whether you’re thinking about selling, hoping to cancel PMI<\/a>, or simply interested in current home values in your neighborhood, having a solid understanding of your property\u2019s value is key to informing your future plans.<\/p>\n

In this article, we\u2019ll explore the latest home price trends in Scruffy City, offer advice on getting the best home value estimate<\/a>, and share practical strategies to enhance your home\u2019s value. Plus, we\u2019ll introduce easy tips and tools to help you secure the best possible price when it comes time to sell your Knoxville home.<\/p>\n\n\n\n\n\n

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\n \"homelight\n <\/div>\n \n

Already Own a Home? What's It Worth Now?<\/h3>\n

Home values have rapidly increased in recent years. How much is your current home worth now? Get a ballpark estimate from HomeLight’s free Home Value Estimator.<\/p>\n \n

\n Get Estimate<\/a>\n <\/div>\n <\/div>\n<\/div>\n\n\n

Editor\u2019s note: This post is for educational purposes and is not intended to be construed as financial advice. HomeLight always encourages you to consult your own advisor.<\/em><\/p>\n

<\/div>\n

Current home values in Knoxville<\/h2>\n

Since 2020, Knoxville\u2019s median home price has climbed by 36.8%, according to FRED Economic Data. In June of 2020, the typical home in Knoxville sold for $332,650. Fast forward to June of 2024, and that price has increased to $455,000<\/a>.<\/p>\n

Knoxville currently ranks 38th<\/a> on the FHFA\u2019s House Price Index list of Top 100 Metro Areas<\/a>, which tracks over 400 cities across all 50 states. According to East Tennessee Realtors\u2019 Q2 2024 Market Pulse Survey<\/a>, the median days on market in the Knoxville region was significantly lower than the national average, at 14 days, while home sales received an average of 2.7 offers.<\/p>\n

\u201cOur latest Market Pulse survey results show that a sizable share of homes continue to receive multiple offers and competition remains robust, especially among lower-priced starter homes,\u201d said Hancen Sale, former Government Affairs and Policy Director at East Tennessee Realtors, said in a recent release<\/a>.<\/p>\n

The table below illustrates exactly how home prices in the Knoxville metro area have climbed over the last five years:<\/p>\n\n\n\n\n\n\n\n\n
Year<\/strong><\/td>\nMedian home price<\/strong><\/td>\nPercent change year-over-year<\/strong><\/td>\n<\/tr>\n
2024 (June)<\/a><\/td>\n$455,000<\/td>\n+1.10%<\/td>\n<\/tr>\n
2023<\/a><\/td>\n$450,000<\/td>\n+12.6%<\/td>\n<\/tr>\n
2022<\/a><\/td>\n$396,450<\/td>\n+17.5%<\/td>\n<\/tr>\n
2021<\/a><\/td>\n$332,450<\/td>\n+0.06%<\/td>\n<\/tr>\n
2020<\/a><\/td>\n$332,650<\/td>\n+4.6%<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Source: Federal Reserve Economic Data<\/a> (FRED)<\/em><\/p>\n

This upward trend isn’t limited to Scruffy City; it\u2019s a phenomenon seen across the entire country. According to the S&P CoreLogic Case-Shiller National Home Price Index, home prices in the United States have increased by over 50%<\/a> since the start of 2020.<\/p>\n

This dramatic rise has led to substantial increases in equity<\/a> for most homeowners, giving them more leverage to make financial decisions such as investing in new properties, remodeling their homes, or even setting aside retirement funds. In early 2024, ICE\u2019s Mortgage Monitor report revealed that the average mortgage-holding homeowner has acquired $299,000 in equity<\/a>.<\/p>\n

For comparison, the table below shows median home prices in cities near Knoxville:<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
City<\/strong><\/td>\nMedian home price<\/strong><\/td>\nDistance from Knoxville<\/strong><\/td>\n<\/tr>\n
Maryville<\/td>\n$368,200<\/td>\n20-30 min (17.4 miles)<\/td>\n<\/tr>\n
Farragut<\/td>\n$636,000<\/td>\n18-26 min (17.3 miles)<\/td>\n<\/tr>\n<\/thead>\n
Oak Ridge<\/td>\n$306,300<\/td>\n28-40 min (23.2 miles)<\/td>\n<\/tr>\n
Harriman<\/td>\n$245,000<\/td>\n40-50 min (41.5 miles)<\/td>\n<\/tr>\n
Clinton<\/td>\n$297,000<\/td>\n24-40 min (18.3 miles)<\/td>\n<\/tr>\n
Lenoir City<\/td>\n$361,600<\/td>\n26-40 min (26.3 miles)<\/td>\n<\/tr>\n
Powell<\/td>\n$387,500<\/td>\n12-20 min (10.2 miles)<\/td>\n<\/tr>\n
Seymour<\/td>\n$377,000<\/td>\n18-30 min (11.4 miles)<\/td>\n<\/tr>\n
Alcoa<\/td>\n$276,000<\/td>\n18-26 min (14.6 miles)<\/td>\n<\/tr>\n
Norris<\/td>\n$350,000<\/td>\n22-30 min (21.2 miles)<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

Home value averages of multiple public transaction sites\u00a0<\/em><\/p>\n

Typical travel times 8 a.m. midweek<\/em><\/p>\n

In the next section, we\u2019ll show you exactly how to obtain an accurate value for your Knoxville-area home.<\/p>\n","protected":false},"excerpt":{"rendered":"

Curious how much your home is worth in Knoxville\u2019s dynamic real estate market? Whether you’re thinking about selling, hoping to cancel PMI, or simply interested in current home values in your neighborhood, having a solid understanding of your property\u2019s value is key to informing your future plans. In this article, we\u2019ll explore the latest home […]<\/p>\n","protected":false},"author":363,"featured_media":47659,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"cybocfi_hide_featured_image":"","footnotes":""},"categories":[320,330],"tags":[],"class_list":["post-47656","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-add-value","category-house-value"],"acf":[],"yoast_head":"\nHome Values in Knoxville: What Sellers Need to Know<\/title>\n<meta name=\"description\" content=\"Explore home values in Knoxville and learn how to maximize your property\u2019s worth with expert tips, tools, and services.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.homelight.com\/blog\/home-values-in-knoxville\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Home Values in Knoxville: What Sellers Need to Know\" \/>\n<meta property=\"og:description\" content=\"Explore home values in Knoxville and learn how to maximize your property\u2019s worth with expert tips, tools, and services.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.homelight.com\/blog\/home-values-in-knoxville\/\" \/>\n<meta property=\"og:site_name\" content=\"HomeLight Blog\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/gohomelight\/\" \/>\n<meta property=\"article:published_time\" content=\"2024-08-29T18:40:33+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-04-06T06:45:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.homelight.com\/blog\/wp-content\/uploads\/2024\/08\/HomeLight-Header-Image-1000-\u00d7-563-px-5-2.png\" \/>\n\t<meta property=\"og:image:width\" content=\"1000\" 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