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REAL ESTATE
Willow Place, affordable living for seniors, adds 30 apartments amid housing crunch
Willow Place, an affordable housing complex for seniors in Karns, will add 30 new units by the end of 2025. The extension, called Willow III, includes 30 affordable apartments for those aged 62 and up earning at or below 80% of the area's median income, which was around $70,000 in 2022. The addition brings Willow Places' capacity to 70 units at a time when housing and rental prices are stubbornly high.
Report finds more than half of all home sold in East Tennessee went for asking price or above in May
KNOXVILLE, Tenn. — People looking to buy a home in East Tennessee continued to face increasingly higher prices, according to a new report. The East Tennessee REALTORS group said the median sale price for a home in the region increased to around $365,000 in May, a jump of around 8.96% compared to the previous year. In April, the realty group said the median home sale price was around $354,450. It also said around half of the homes sold in the region were under contract in 13 days or less.
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