37847
Knoxville, Tennessee

The 37847 ZIP code shows a median sale price of $269,950 with an extraordinary 46.1% year-over-year appreciation, though market velocity has slowed considerably with homes averaging 111 days on market. No properties sold above list price in the current period, indicating buyer leverage has returned despite the significant price gains. This disconnect between sharp price appreciation and extended marketing time suggests the market is transitioning from last year's momentum into a more cautious trading environment.

Buyers gain negotiating power in this market, with 111 days on market providing time for due diligence and price discovery without bidding pressure. Sellers who captured equity during the 46.1% run-up face optimal exit conditions before momentum dissipates further. Investors should approach with caution given the zero percent above-list metric and moderate PropIQ score, as entry prices reflect last year's surge rather than current demand fundamentals.

The PropIQ score of 51 signals elevated risk, warranting close monitoring of absorption rates and pricing trajectory over the next quarter. The gap between strong backward-looking appreciation and weak forward-looking indicators suggests price stabilization or potential correction. Watch for increasing days-on-market trends and new listings volume, as the current 111-day average could extend if the zero-percent above-list pattern persists.