While everyone knows that Hardin Valley is a hot part of town for real estate, what exactly is going on and how does it compare to the rest of Knox County? Using data from the Knoxville Area Association of REALTORS © Multiple Listing Service (KAARMLS), 567 homes were sold in our zipcode of 37932 between Aug of 2017 and July of 2018. The graph above follows the historical trend of busy in the spring and summer, sales decreasing in the fall and most buyers/sellers taking a break for the holidays. Closings usually occur 30-60 days after a sales contract is accepted, so that explains January’s lull from Thanksgiving and Christmas but a big bounce in February where New Year’s resolutions included buying a home!
May and July were overall the busiest months for home buying with 63 and 62 sales respectively. January (24) and November (36) were the slowest months to close on a house. On average, 47.25 homes were sold each month over the last year.
The 567 sales is an increase of 102 additional homes sold (21.9% growth) from the previous year. Overall, our sales now represent 6.6% of all home purchases in Knox County, which is up from 5.5% (Aug 2016-Jul 2017).
The amount of new construction has been even more remarkable. Forty-one percent of homes sold in 37932 were built either in 2017 or 2018! County wide, new construction accounts for just 12.4%. With several subdivisions moving into additional building phases and county approval given for additional neighborhood sites, we should expect new homes sales to compose comparable numbers over the next year with an overall increase in the percentage of homes being sold in Hardin Valley for all of Knox County.
We will send you the Hardin Valley Coupon Book.