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Where new Knoxville residents come from amid crazy real estate market

First-time homebuyers guide: Advice on the 2021 real estate market

A surplus of real estate agents leads to high competition for home listings

A surplus of real estate agents leads to high competition for home listings There are more than 5,000 agents with only about 2,000 houses on the market per day in Knox County. Author: Katelyn Keenehan Updated: 6:07 PM EDT July 20, 2021 KNOXVILLE, Tenn If you re looking to buy a house right now, there are more than 5,000 real estate agents in the greater Knoxville-area working to assist you. However, there are only about 2,000 homes listed per day. The discrepancy makes for a pretty tight market for realtors. As you could imagine, it s very, very competitive, said Justin Bailey, the CEO of Realty Executive Associates Inc.

First-time homebuyers guide: Advice on the 2021 real estate market

Jaxx Fox has lived in East Tennessee her entire life, although she never felt at home inside the apartments she rented. That s why, three years ago, Fox decided to buckle down to save for her own home.  The organization s Housing Affordability Index indicates the short supply of homes is increasing costs across the country, and especially impacts first-time buyers.  Median family incomes in April fell 1.0% from March. Meanwhile, the monthly mortgage payment increased 16.1%. Fox spent three years paying her student loans and saving so she could buy the home she always wanted. When she started searching, it wasn t like anything she expected.

Knoxville homes for sale: Out-of-state buyer dishes on hot real estate

Amid all the market mayhem, Nicki Baxley is in a unique position. After living in Knoxville for 17 years, Baxley and her family moved to Iowa just before the pandemic. The relocation didn t last long. In 2021, the Baxleys sold their Iowa home, bought a Knoxville house and left the Midwest.  How she got here Baxley and her husband, Doug, moved to Knoxville together after they got married. Fast forward 17 years and their family grew by two. The family had strong ties in the city – Baxley s relatives live nearby and her sons loved their school. But in December 2019, they relocated for Doug s career . They sold the house and headed west.