37849
Knoxville, Tennessee

The 37849 market registered a median sale price of $390,000 as of February 2026, reflecting modest appreciation of 1.7% year-over-year. Homes are averaging 79 days on market, indicating measured absorption rates rather than the rapid turnover seen in tighter markets. Only 25% of transactions closed above list price, suggesting sellers maintain limited pricing power and buyers face reduced competitive pressure compared to peak conditions in previous years.

This environment favors deliberate buyers with financing contingencies who can capitalize on the 79-day marketing period to conduct thorough due diligence. The 75% of homes selling at or below list demonstrates negotiating leverage exists, particularly for purchasers avoiding bidding wars. Sellers with equity positions can still exit profitably given the positive price trajectory, though those requiring quick liquidity face extended timelines compared to markets with sub-30-day absorption rates.

The PropIQ score of 75 signals neutral momentum without clear directional bias, warranting observation of contract-to-close ratios and new listing volume through Q2 2026. The 1.7% appreciation rate barely outpaces inflation, suggesting price discovery remains incomplete in this price tier. Monitor whether days-on-market contracts below 60 or extends past 90, as either break would indicate emerging buyer urgency or growing inventory pressure respectively.