Oak Ridge-area home prices fall 15.9% in March, with houses for sale in high demand

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The median sales price for a single-family home in Richmond County has decreased 1.4% since March 2021.
The median sales price for a single-family home in Richmond County has decreased 1.4% since March 2021.

A typical Anderson County home listed for $285,950 in March, down 15.9% from a month earlier, an analysis of data from Realtor.com shows.

The median list home price in March was up about 10% from March 2021. Anderson County's median home was 1,856 square feet for a listed price of $163 per square foot.

The Anderson County market was busy, with a median 42 days on market. The market added 92 new home listings in March, compared with the 96 added in March 2021. The market ended the month with some 44 listings of homes for sale.

Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.

Across metro Knoxville, median home prices fell to $372,400, down 0.7% from a month earlier. The median home had 1,990 square feet, at a list price of $189 per square foot.

Across all of Tennessee, median home prices were $371,000, rising 1.7% from a month earlier. The median Tennessee home for sale had 1,974 square feet at list price of $201 per square foot.

Across the United States, median home prices were $404,950, up 3.2% from a month earlier. The median American home for sale had 1,800 square feet, listed at $214 per square foot.

The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.

The USA TODAY Network is publishing localized versions of this story across the country, generated with data from the Realtor.com residential listings database.. The story was written by Mike Stucka and Sean Lahman.

This article originally appeared on Oakridger: Oak Ridge-area homes for sale rise to $285,950 median price