In August, the median sale price of a home in Knox County fell by $6,500 from the same period in the previous year, while total sales increased by 10.4%, according to BlockShopper.com.
There were 53 homes sold in August, with a median sale price of $92,500 — a 6.6% decrease from the $99,000 median sale price during the same period of the previous year. In comparison, 48 homes were sold in Knox County in August 2023.
Based on the latest available data from 2021, the median sales tax in Knox County was $1,474, which stands at 1.6% of August’s median home sale price.
The U.S. housing market has soared in recent years, with its total value nearing $50 trillion in 2024. This is almost five times greater than the market’s value in 2000.
“The value of America’s housing market will likely cross the $50 trillion threshold in the next 12 months as there are not enough homes being listed to push prices down,” said Redfin Economics Research Lead Chen Zhao.
The following histogram displays changes in median sales prices in Knox County from August 2023 to August 2024.
