Knox County's once blistering housing market hit the brakes in January, with prices edging down and fewer deals getting across the finish line. The county's median home sale price dipped to $375,000, while recorded transactions fell to 501. All told, residential sales for the month added up to about $241.4 million in volume.
Those numbers come from deed-record sales compiled by Realtor.com and summarized by the Knoxville News Sentinel. According to that breakdown, the median selling price for single-family homes was $375,000 in January, about 1.3% lower than in January 2025 and roughly 2.6% below December's $379,999. The county logged 501 sales in January, a 7.6% year-over-year drop, and 26 single-family houses plus four condos or townhomes changed hands for $1 million or more during the month.
Other market trackers are picking up the same chill in the air. Redfin reported a median sale price near $388,250 in February and noted that homes are sitting on the market longer. The Zillow county index pegs typical values close to $376,196, a combination that points to a modest cool-down after the post-pandemic run-up.
Single-Family Side Slips While Condos Get A Lift
Single-family homes did most of the backsliding. The median sale price for those properties was $375,000 in January, about 2.6% below December's $379,999. Condos and townhomes, on the other hand, managed a short-term bump. Their median price climbed to $367,500, up roughly 13.1% from December, even as condo prices remain mixed compared with a year earlier, according to the Knoxville News Sentinel summary of Realtor.com deed data.
What Buyers And Sellers Are Walking Into Now
Rising inventory, combined with longer listing times, points to a more balanced market where buyers finally have a bit more say at the negotiating table. Realtor.com's county dashboard shows both active listings and median days on market ticking up, and a Hoodline round-up of forecasts calls for a modest statewide price dip this year. Taken together, it is a clear sign that the breakneck seller's market is cooling off.
For sellers, that means pricing sharply and putting homes in top shape matter more than ever. For buyers, it may be the moment to push a little harder on concessions or inspection items in hopes of shaving the price. March and April deed filings will offer a better read on whether this is a brief breather or the start of a longer trend, since deed-based sales count land with a short delay. For now, at least, Knox County house hunters have a bit more room to negotiate than they did in the frenzy of the past few years.
