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Hardin Valley Real Estate Market Update – February 2021

This is a snapshot of the housing activity in the 37932 zip code, inclusive of all the homes (regardless of price). The upper left box indicates the number of Hardin Valley homes for sale. On 16 February, 2021, 33 homes are listed for sale on the MLS . This is a significant reduction in available houses from just the end of December brought on by local buyers getting back into the market at the start of the year and the flood of out of state buyers choosing Knoxville. The box to the upper right shows the recent sales activity. In the past 3 months, 156 homes have sold and this puts us at a pace of a rounded 52 sales per month, which is consistent with the seasonal decline in activity.

In the lower left box, this is known as the absorption rate. It is a fancy term for a number that helps us judge whether the market is a Buyer’s Market (higher than 6), a Seller’s Market (less than 6)  or Balanced (6). Hardin Valley’s absorption rate of 0.6 would indicate that we are still in a Seller’s Market. If no new homes were added to the market and we kept selling at a pace of 52/month, all of the houses in 37932 would be sold in less than 2 1/2 weeks!

With only 33 homes available to choose from, many of which are unstarted new construction, this is not enough to meet the demand of the market. Statistically speaking, sellers with an address in 37932 have a 100% chance of selling within the first month of being on the market. Unless the home is overpriced or something is ‘wrong’ with the home (location, condition, layout, etc) there should be a quick sale. Hardin Valley homes continue to be a hot commodity because of our schools (thank you teachers!), convenient location and new construction of both homes and businesses.

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