37762
Knoxville, Tennessee

The 37762 market shows a median sale price of $95,000 with a substantial 26.7% year-over-year appreciation, yet inventory moves at an unusually slow pace with properties averaging 421 days on market. Zero homes are selling above list price, indicating buyers maintain strong negotiating leverage despite the price gains. This combination of rising prices and extended marketing periods suggests a thin market where occasional transactions at higher prices skew appreciation metrics while typical listings face prolonged exposure.

Patient buyers with flexible timelines will find optimal conditions in this market, as the 421-day average DOM provides ample opportunity for extended due diligence and negotiation. Sellers who purchased before the recent appreciation cycle can capture the 26.7% gain, though they must accept realistic pricing given the 0% above-list close rate. Investors seeking value-add opportunities may benefit from the extended marketing periods, which often correlate with motivated sellers willing to negotiate on distressed or dated properties at the $95,000 price point.

The PropIQ score of 47 signals caution, suggesting the recent 26.7% price increase may not be sustainable given current liquidity constraints. The extended 421-day marketing period indicates insufficient buyer depth to support continued appreciation at this pace. Market participants should monitor whether days-on-market compress or prices correct downward—the current metrics cannot coexist long-term in a functional market.