Published October 12, 2026 in Market Update

Prices split across Knoxville instead of moving one way

By Pamella Haynes

Real estate, Knoxville

The Federal Housing Finance Agency says U.S. house prices rose 2.6% from a year earlier. In Knoxville, that single number hides a wide split. Your ZIP code tells a different story than the city as a whole.

The Real Estate Data Aggregator counted 171 homes sold in ZIP 37922 in the three months ending August 31, 2026. The median sale price there was $729,900, up 8.1% from the same months a year before. That is real growth, and it held up while much of the country slowed.

In ZIP 37919, the Real Estate Data Aggregator counted 134 homes sold in the same period. The median sale price was $515,000, down 22.3% from a year before. More homes sold there, up 13.6%, but buyers paid less. That is not the same market as 37922.

How the four ZIP codes compare

ZIP 37923 had a median sale price of $420,000, down 4% from a year before, per the Real Estate Data Aggregator. That dip is small compared with 37919. And nearly 3 in 10 homes in 37923 sold above list price, the highest share of any ZIP here.

ZIP 37934 had a median sale price of $707,407, up 1.8%, according to the Real Estate Data Aggregator. Homes there sold in 48 days, the fastest of any ZIP in this group. Supply fell too: months of supply dropped 1.2 months from a year before.

Speed to contract

In 37923, the Real Estate Data Aggregator found that 51.1% of homes went under contract within two weeks of listing. In 37919, that share was 40.3%. Both are meaningful, but the gap matters if you are pricing a home to move quickly.

The wider picture

Across all four ZIP codes together, the Real Estate Data Aggregator counted 581 homes sold in the three months ending August 31, 2026. That is up 4.5% from a year before. New listings rose 18.6%, to 656 homes. More supply is coming to market.

At the same time, CNBC reported the average contract rate for a 30-year fixed mortgage rose to 7.49% as of October 7, 2026. Realtor.com reported that mortgage rates surged above 7% for the first time since January 2025. Higher rates slow buyers down. That puts more weight on pricing a home right from the start.

Realtor.com also reported that 20.8% of listings nationally took a price cut in September, the highest share since October 2022. That is a national figure. But it is a reminder that overpriced homes are sitting longer everywhere.

One street can read very differently from the ZIP code around it. If you want to know what the numbers look like for your address specifically, send me a note.