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Fewer deeds; higher values wrap 2022 real estate - Knox County Register of Deeds
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05Jan’23
The most valuable piece of property to change hands in 2022 was the Wellsley Park Apartment complex in the Deane Hill community which sold for $97 million.
Happy 2023! I hope you had a good holiday season and that 2023 is your best year yet.
During the last week of December (we were closed on Monday), 1,027 documents were recorded. 190 property transfers with a total of $68.3 million were recorded before the year-end, including four with price tags topping a million dollars.
Nick McBride
Two transfers were commercial properties. In the Cedar Bluff community, the Big O Tires property at 1015 Old Cedar Bluff Rd had a price of $2.38 million. The sale by Dallas Petro LLC to Connecticut Avenue Holdings LLC took place on Dec 29.
The other property is a little farther west, on Lexington Drive. PRT Properties now owns 10421, 10416 and 10417 Lexington Drive, all purchased for $7.2 million.
The 249 loans recorded from Dec 27-30 came in with a total of $71.9 million. The largest amount loaned came from Citizens National Bank for $4.35 million. There were four other loans topping a million dollars:
| Lender | In Millions | Lender | In Millions |
|---|---|---|---|
| First Horizon Bank | $1.0 | Barnes Capital Management LLC | $1.25 |
| TNBANK | $1.2 | Pinnacle Bank | $2.64 |
In December the office recorded 5,519 deeds. 1,274 were loans with a value of $643.9 million, and 944 were property transfers valued at $496.1 million.
The three-year comparison landed on the last workday of the year. I believe 2021 is going to be a hard year to beat, but 2022 came in a very close second! It just proves what I’ve always known, Knox County is a great place to live!
| January 1 – December 31 | |||||
|---|---|---|---|---|---|
| Trust Deeds | Warranty Deeds | ||||
| Year | Quantity | Value | Quantity | Value | |
| 2020 | 26,462 | $7,147,528,808.70 | 14,279 | $4,337,050,362.16 | |
| 2021 | 29,170 | $8,995,697,191.30 | 15,529 | $5,973,923,989.19 | |
| 2022 | 20,730 | $7,679,698,739.13 | 13,517 | $6,034,796,943.24 | |
Other statistics for 2022:
- 52 Trust Deeds were obtained with values over $10 million.
- The highest-value loan of the year was funded by Morgan Stanley Bank in the amount of $113,812,400.
- 26 Warranty Deeds were recorded with price tags over $10 million.
- The most valuable piece of property to change hands in 2022 was the Wellsley Park Apartment complex in the Deane Hill community which sold for $97 million.
- The total number of documents recorded for the year was 83,189 including 34,605 lien/loan release documents as well as the 20,730 loans and 13,517 property transfers.
Here’s to a happy and healthy 2023! Nick.
Nick McBride is register of deeds for Knox County.