Knoxville-area home prices fall slightly in May, with houses for sale in high demand

A typical Knox County home listed for $379,950 in May, down from $380,000 a month earlier, an analysis of data from Realtor.com shows.

The median list home price in May was up about 15.2% from May 2021. Knox County’s median home was 2,048 square feet for a listed price of $197 per square foot.

The Knox County market was busy, with a median 26 days on market. A month earlier, homes had a median 28 days on market. The market added 952 new home listings in May, compared with the 924 added in May 2021. The market ended the month with some 489 listings of homes for sale.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

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What were Knoxville-area home prices in May? Here’s a county-by-county breakdown

A 3 bedroom, 2 bath, 1,300 square foot home at 221 Oglewood Ave. lists on Zillow for $305,000 as of Tuesday, March 8, 2022.

Anderson County’s home prices rose 1.1%, to a median $317,450, from a month earlier. The typical house was on the market for 29 days, from 35 days a month earlier. The typical 1,833-square-foot house had a list price of $167 per square foot.

Blount County’s home prices rose 11.1%, to a median $499,900, from a month earlier. The typical house was on the market for 29 days, from 32 days a month earlier. The typical 2,294-square-foot house had a list price of $226 per square foot.

Loudon County’s home prices rose 6.5%, to a median $569,450, from a month earlier. The typical house was on the market for 28 days, from 27 days a month earlier. The typical 2,283-square-foot house had a list price of $247 per square foot.

Sevier County’s home prices rose 4.8%, to a median $786,250, from a month earlier. The typical house was on the market for 31 days, from 32 days a month earlier. The typical 2,079-square-foot house had a list price of $421 per square foot.

Roane County’s home prices rose 6.7%, to a median $320,000, from a month earlier. The typical house was on the market for 34 days, from 38 days a month earlier. The typical 1,898-square-foot house had a list price of $175 per square foot.

Jefferson County’s home prices rose 7.5%, to a median $429,900, from a month earlier. The typical house was on the market for 31 days, from 38 days a month earlier. The typical 1,952-square-foot house had a list price of $210 per square foot.

Cumberland County’s home prices fell 3.1%, to a median $377,450, from a month earlier. The typical house was on the market for 30 days, from 33 days a month earlier. The typical 2,037-square-foot house had a list price of $196 per square foot.

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Monroe County’s home prices rose 12%, to a median $391,950, from a month earlier. The typical house was on the market for 33 days, from 40 days a month earlier. The typical 2,039-square-foot house had a list price of $203 per square foot.

Campbell County’s home prices fell 3.1%, to a median $309,950, from a month earlier. The typical house was on the market for 37 days, from 31 days a month earlier. The typical 2,103-square-foot house had a list price of $163 per square foot.

Union County’s home prices fell 10.7%, to a median $334,900, from a month earlier. The typical house was on the market for 44 days, from 38 days a month earlier. The typical 1,984-square-foot house had a list price of $228 per square foot.

Claiborne County’s home prices fell 0%, to a median $289,950, from a month earlier. The typical house was on the market for 37 days, from 45 days a month earlier. The typical 1,700-square-foot house had a list price of $177 per square foot.

Across metro Knoxville, median home prices rose to $399,950, up 1.2% from a month earlier. The median home had 2,073 square feet, at a list price of $200 per square foot.

Across all of Tennessee, median home prices were $422,500, rising 5.7% from a month earlier. The median Tennessee home for sale had 2,055 square feet at list price of $214 per square foot.

Across the United States, median home prices were $446,950, up 5.2% from a month earlier. The median American home for sale had 1,861 square feet, listed at $226 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what’s happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on Knoxville News Sentinel: Knoxville area homes for sale drop to $379,950 median price