51 properties over $1 million so far this year

Nick McBrideOn the Grow

During the first week of March, 1,211 deeds were put on record. Warranty Deeds made up 182 of the total and had a combined value of $74.52 million. Property values have continued to rise over the past couple of years. This year, 51 properties have been sold with prices of $1 million or more and most of those have been residential properties. Last week, there were nine sales of over $1 million, and just two were commercial properties.

Last week’s first commercial property transfer was between Sinclair Properties and Preferred Ventures LLC. Preferred Ventures LLC purchased the building located at 1725 Louisville Drive in the industrial area of Middlebrook Pike for $1.35 million.

The second commercial property transfer was between Riverview Properties and Urbanscape LLC. The five lots in South Knoxville next to the Trailhead Beer Market were purchased for $1.5 million.

Lenders submitted 278 loans for recording which had a total value of $80.22 million. The largest loan came in at $3.18 million funded by Mountain Commerce Bank. The second and third largest loans of the week were backed by First Century for $3 million and Citizens Bank for $2.16 million. Two other loans hit the one million and above mark when Hearthside Bank Corporation lent $1.14 million and First Farmers and Commercial Bank loaned $1 million.

Our comparison chart is updated as of March 8, 2024:

Knox County homeowners, there’s a free tool to help you have peace of mind about your property deed. Visit our newly updated website https://rod.knoxcounty.org/and sign up for the FREE Property Fraud Alert program. You’ll receive an email alert if anything is recorded in the name you have registered. No spam is sent, and we do not contact you for any other reason.

Have a great weekend!                   – Nick


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