Pandemic fails to hinder Knox real estate market

Nick McBrideOn the Grow

During the week of Nov. 16-20, we showed a slight increase in both the number of transfers and mortgages, and their dollar totals. Comparing last week to the same week in November of 2019, the numbers are almost double, even amidst the pandemic.


We recorded 279 property transfers that totaled $78.64 million. In doing my research, I realized that there were no commercial property sales over $1 million, which doesn’t happen very often.

Nick McBride

If you follow the numbers, you’ll notice that property values are staying strong in Knox County. Looking at the recorded values from last week alone, 88 were in the $100k-$200k price range, 62 were between $200k and 300k, and 35 were between $300k and 400k.

The banks and other lenders are experiencing a good year as well. Last week we recorded 541 Trust Deeds that came to a sum of $136.7 million. The banks funding individual loans over $1 million are listed below:

  • Regions Bank –­ $4.69 million
  • First Horizon Bank – $3.55 million
  • Truist Bank – $3.15 million
  • Mountain Commerce Bank –$2.42 million
  • TN Rural Development Fund, LLC –$2.3 million
  • Pinnacle Bank – $1.64 million
  • Citizens Bank – $1.38 million

Thanksgiving will be different this year, but we still have so much for which we are thankful. I hope you will enjoy the holiday while keeping yourself and your loved ones healthy.

Please note:  Our office will be closed on Thursday and Friday, Nov. 26-27. Normal hours will resume on Monday, Nov. 30.

Happy Thanksgiving to you and yours!

Nick McBride is register of deeds for Knox County.

 

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