"Price reductions swept through the Knoxville metro housing market during the week ending Nov. 7, 2025, with 51.9% of active listings carrying reduced asking prices, well above typical market conditions where cuts affect roughly 30-35% of inventory. The Tennessee metro recorded 2,492 active single-family homes for sale, marking a 19.7% jump from 2,082 properties available during the same week in 2024. Despite the inventory buildup, buyers absorbed 293 homes during the week, representing a 33.8% increase from the 219 homes absorbed a year earlier."
"Sellers responded to growing competition by cutting prices at unprecedented rates. Beyond the 51.9% of homes with reduced prices, another 1.9% of listings saw price increases, leaving nearly half the market holding firm on original asking prices. The median reduction magnitude data was not available in the dataset. New listings entered at a measured pace, with 160 homes added during the week. The 2.1 months of supply indicates seller-favorable conditions persist, though the metric has shifted from the tighter conditions typical of recent years."
During the week ending Nov. 7, 2025, Knoxville had 2,492 active single-family listings, a 19.7% increase from 2,082 a year earlier. Price reductions affected 51.9% of active listings while 1.9% saw increases and nearly half held original asking prices. Buyers absorbed 293 homes, a 33.8% rise from 219 a year earlier, and 160 new listings entered the market. Months of supply stood at 2.1, indicating seller-favorable balance despite easing from tighter conditions. Median list price fell 6.1% to $459,900 and median days on market lengthened to 63 from 56. Relisting rate was 5.9%.
Read at www.housingwire.com
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