Buying a home in Knoxville has gotten a lot more expensive in the past year.
High demand and?housing shortages?are leading to increased prices, leaving few available homes?for buyers on a budget.?
According to data from the Knoxville Area Association of Realtors, the median home price was?$265,000?in May, up 25% from $212,000 in May 2020.?
It’s up 2% from April’s median cost of $260,000.
Many buyers are paying way over asking price for properties, meaning homes could be listed well below $265,000 before the deal is closed. ?
Wondering what $265,000 can get you in the Knoxville area? These five properties on the market fall around?the median price range across Knox County.
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Remember, homes are selling in record time, so these properties might?already be off the market. Listing prices and final costs also could vary as sellers make price adjustments and review offers.
Financing fell through on a charming two-bedroom, two-bathroom home?at 5709 NE Eldridge Road in Fountain City, giving buyers another opportunity to submit offers. The property is listed for $260,000 by?Julie Carter of Berkshire Hathaway HomeServices Dean-Smith Realty.
Inside, the 2,100-square-foot home includes original hardwood floors on the main level and a wood-burning fireplace. The home was built?in 1945.?Outside, new owners will get to enjoy the?over-an-acre lot.?The cottage is within walking distance to the?historic Fountain City Park and iconic duck pond.
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The home also includes options for a third bedroom or office on the lower level and a workshop in the?outbuildings equipped with electricity. It includes a basement and two-car garage. The home’s roof was replaced in May 2021, and the seller plans to update?the water heater before?closing. The new owners will receive a?transferred home warranty.
The property most recently sold for $219,900 in?April 2021. Before that, it sold for $145,000 in 2019, according to Knox County records.?
The four-bedroom, two-bathroom ranch-style home at 2313 Rosann Lane in Fountain City is new to the market. The?1,469-square-foot home is listed for?$269,000 by?Howard L. Sentell of?Sentell Real Estate.
The home has?been remodeled and features an?open concept floor plan and?updated kitchen. The?newly built private master suite comes with an?attached master bathroom, which includes a walk-in tiled shower with glass door. The other three?bedrooms and updated full bathroom are located on the other side of the house.
Other updated amenities include windows, a water heater, HVAC system, gutters, lighting,?back deck, landscaping and a fresh paved driveway.?
It most recently sold in Feb. 2021 for $129,000, according to Knox County records.?
This four-bedroom, three-bathroom home in West Knoxville is conveniently located close to recreation and roadways. 10009 Hempshire Drive is listed for?$262,000 by?Major Ward of Realty Executives Associates.
Every member of the family will have plenty of?space inside the 1,690-square-foot home, which includes a family room and a huge deck overlooking a fenced backyard. The home is a short drive away from Fort Loudoun Lake, Concord Park and Pellissippi Parkway.?
The property most recently sold for $135,000 in 2013, according to Knox County records.?
Escape at this three-bedroom, one-bathroom abode in?Colonial Village.?Donna Taylor of?Slyman Real Estate has listed the home, located at 127 Larry Drive,?for $269,000.
The home includes a stone walkway toward the entrance, in addition to an updated?kitchen, bathroom, fireplace and more. The backyard is?park-like and?peaceful?and includes a patio, deck and?fire pit area.
The South Knoxville home also is a five-minute drive from the local breweries, restaurants and activities downtown.
It most recently sold for $175,000 in October 2020, according to Knox County property records.?
Ready to relocate? Check out this three-bedroom, two-bathroom ranch-style home in Halls. The property, located at 2927 Muzzle Lane, is listed for $250,000 by?Jenay Farrell of Holli McCray Home Marketing Group.
Everything you need is on one level inside the 1,370-square-foot?home. Sellers have upgraded the stainless steel appliances included in the?large eat-in kitchen. High?cathedral ceilings make the living area make the room feel?spacious. It includes a?formal master suite and a back deck that overlooks the level backyard.?
The property is minutes away from?Halls schools, Fountain City, major retailers?and several local restaurants. The home most recently sold in December for $158,950, according to Knox County records.?