Right now, Knoxville is a sellers market when it comes to the housing market.

This means inventory is low, homes sell fast and homes don't stay on the market too long.

"Today's market conditions are very competitive. Buyers can get frustrated because a home sells so quickly," local realtor, Cole Edwards, said.

More News

Next Story

Not Available

Just For You

Not Available

Trending

Not Available

Sometimes a home can be off the market before most people even realize it was for sale because the need is so high.

In Knoxville, realtors said that the farther out you go, the lower the cost of the home, with some exceptions.

Realtors said there are several highly sought after neighborhoods, with really expensive homes very close to areas where the homes aren't as valuable.

"There can be a home worth $400,000 just up the street from a home worth $150,000," Jarrod Cruze, a local realtor, said.

We took a look at homes in several areas of town and we started in Farragut.

"Our first home in Farragut is a little older, but it's been updated. You get the Farragut area, but it's at a $250,000 price so it's a smaller floor plan," Cole Edwards said. "Our Hardin Valley home you see the home was built in the early 2000's and didn't have as many updates as the homes around it, but it's going for a higher price for square foot."

Then we went out a little farther to Northeast Knoxville.

"When you come out this far you get a lot more home for the price," Edwards said.

Lastly we went to South Knoxville and this is an area showing rapid growth.

"What you see in South Knoxville is an older home at $250,000 and these homes have a lot of character," Edwards said.

Once you head East, the home prices start to drop. Right now, Zillow.Com shows no homes in the $250,000 price range in East Knoxville, but there is a 3 bedroom, 3 bath house is for sale for just under 160,000.