Market change?

[Joe Flacco]

Those are the same reasons why a lot of condo prices are going down.

 

[OSU Beavers]

More sellers listing and more buyers jumping off the fence.

 

[Joe Flacco]

Appraising the same condo I appraised a year ago. Top one is months of supply chart when I appraised it in 2025 and the bottom one is the months of supply chart in the new report.

Guess what happened.

 

[Essexfenwick]

Rates are over 7. Duh. The panic is now on the seller side and that's when they jump in to sell. Herd mentality .

 

[Joe Flacco]

Rates are over 7. Duh. The panic is now on the seller side and that's when they jump in to sell. Herd mentality .

It's not the rates. If it was then you would be seeing the same thing with townhomes and detached homes. So far we are only seeing that with condos.

 

[Joe Flacco]

The increasing trend in the months of supply that started in 2025 for townhomes and detached homes has stalled with the higher rates. Doesn't mean it can't or won't continue higher but the information available right now is not showing that.

 

[Fernando]

What? Around here condo prices haven't been doing well in past few years.

 

[Joe Flacco]

Condos in the city here havn't been doing well for a few years but it is more of a new development in the suburbs.

 

[Joe Flacco]

This is what the condo market looks like in the city.

It was a tighter market there between the financial crisis and the pandemic.

 

[RSW]

It's not the rates. If it was then you would be seeing the same thing with townhomes and detached homes. So far we are only seeing that with condos.

I have always found that condos and attached PUDs react to a down market much sooner that detached SFR homes im the Knoxville area.