Yes, we've noticed that too. We originally bought our house in 1993 for $116,000, a fair price at the time. We added on a sizeable sunroom and made some home improvements, and recently were told by some real estate friends that we could put our house on the market for $500K... wow.... not that we would do so, we like where we live, and would have to find another house at inflated prices if we stayed in this area of west Knox County. We could find less expensive housing if we looked outside this county, but it would necessitate a long drive every time we wanted to go to our various activities... so no thanks. We're happy where we are.
Money.
It takes a lot to move.
Yes, I suppose it does.
Yes.
They are in bidding wars in TN going way over the value of the homes.
Yes, we've noticed that too. We originally bought our house in 1993 for $116,000, a fair price at the time. We added on a sizeable sunroom and made some home improvements, and recently were told by some real estate friends that we could put our house on the market for $500K... wow.... not that we would do so, we like where we live, and would have to find another house at inflated prices if we stayed in this area of west Knox County. We could find less expensive housing if we looked outside this county, but it would necessitate a long drive every time we wanted to go to our various activities... so no thanks. We're happy where we are.
I completely understand because I've been watching the market in order to buy and I'm not going to pay $300,000 plus for a mobile home.
At some point things should correct themselves unless I can find a great buy I continue to keep looking there.