Weekend roundup: RSVPs, applications, and housing implications
The Weekend News Roundup features stories related to local business, technology, entrepreneurship, economy, events, and innovation.
RSVP for the PYA Ballard Innovation Award
The Ballard Innovation Award is the largest gift of cash and in-kind services available to East Tennessee entrepreneurs and startups—a reflection of PYA’s commitment to the region.
Five applicants have been selected to present at the pitch competition and award ceremony on Wednesday, April 10th, 3:00 – 5:30, with a reception to follow. It will be held at Jewelry Television Auditorium, located at 9600 Parkside Drive, Knoxville, TN 37922.
Learn more about the companies:
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Apply for ‘The Works’ Accelerator
The Knoxville Entrepreneur Center (KEC) opened applications this week for “The Works.” It is the ultimate start-up accelerator program tailored for early stage software technology and tech-enabled companies poised for rapid growth.
“The Works’ is a 12-week intensive program designed to provide start-ups with unparalleled opportunities for growth, mentorship, and networking. With a focus on fostering innovation and scalability, The Works equips entrepreneurs with the tools and knowledge needed to thrive in today’s competitive market landscape.
Read more about the program on teknovation.biz.
Housing Report, Courtesy of East TN Realtors
Apartment rent growth slowed down in February, with rent prices across the Knoxville metro area only increasing 2.1 percent from the previous year.
Home prices in the Knoxville metro area increased 11.7 percent from the previous year in the fourth quarter of 2023, which places the region at No. 8 in the U.S. for price growth, according to the FHFA House Price Index. The median sale price was $354,000.
When looking at the month-to-month data, East Tennessee home sales increased 8.9 percent from the previous month, but were down 1.4 percent from a year ago. According to the East Tennessee Realtor’s data, the housing inventory significantly increased this year, compared to this time last year.
Property Transfers, Courtesy of Register of Deeds office
According to Nick McBride, the Register of Deeds for Knox County, we closed out the month of March with 1,338 documents recorded: including 218 property transfers and 280 loans.
Nick McBride
The 218 property transfers had a total value of $78.39 million, which is a very large amount for one month in Knox County. These included six residential sales over $1 million; however, there were no commercial transfers valued at a million or more. This exemplifies that it was a big month for residential purchases and sales.
Loans for the week had a total of $101.5 million. The largest loan was funded by EMK investors for $32.29 million, according to the Register of Deeds Office.
