July real estate numbers are smoking hot

Nick McBrideOn the Grow

I hope your second week of July was good and that this third week will be even better! The office was busy last week, recording 2,055 documents. Since June we have averaged over 1,900 documents per week, keeping our staff on their toes.

Of the 2,055 documents, 309 of those were Warranty Deeds (property sales) that carried a total of $104.3 million dollars. This week we recorded 10 property sales with price tags over a million dollars, and of those, four were commercial properties.

Nick McBride

The Clarion Inn on Campbell Station Road in deep West Knoxville has a new owner. Sama Lodging LLC sold the hotel to Campbell Station Lodging LLC for $4.98 million.

A multi-family community in East Knoxville was the second highest value property transfer. The Brownstone Community, which has 20 duplex units, is located off Woods Creek Road and was sold to Jelly Commercial Properties LLC for $1.79 million by T. Wear.

Gallaher Properties LLC sold the commercial building located at 10624 Dutchtown Rd to Brackfield & Associates, after nine years of ownership. The property had a price tag of $1.2 million. This building is right next to the Dutchtown Convenience Center.

10624 Dutchtown Road

The final commercial property to change hands is located on Lyons View Drive. The 4811 Lyon’s View GP sold the property at 4811 Lyons View, formerly a church, to J.A. Smith for $1.1 million.

Last week was a good one for the lenders. We recorded 521 loans that came to a grand total of $155.7 million. 11 of those were loans for over a million dollars. The largest, $23.68 million, was funded by Bank of Tennessee. The other banks funding the million-dollar loans were:

  • Regions Bank – $1.12 million
  • Smartbank – $1.17 million
  • First Peoples Bank of Tennessee – $1.34 million
  • Truist Bank & Mortgage Investors Group – $1.4 million
  • Key Bank NA & United Wholesale Mtg – $1.6 million
  • Citizens Bank – $1.8 million
  • Legence Bank – $4.2 million
  • CBBC – $5.2 million

The last bit of information I’ll share today is the 3-year comparison of year-to-date total value for Warranty Deeds and Trust Deeds. You can see how much better 2021 has been than the last two years.

Look for us on Facebook here. I appreciate all who have liked, followed, and shared the page. Have a great week!

Nick McBride is register of deeds for Knox County.

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