Is Cannon, KY 40923 a buyer’s or seller’s market?
Cannon is a seller’s market. With about 2.1 months of supply and 0% of recent sales closing above the original list price, competing offers are common on well-priced homes. Buyers here often have a pre-approval in hand and a plan for the appraisal gap before touring.
The Cannon housing market right now
In the three months ending August 31, 2026, 0% of homes in Cannon, KY 40923 sold above their list price, the typical home went under contract in 297 days and there were 2.1 months of supply. Under four months of supply means sellers have the edge: expect competition for well-priced homes. With only 3 sales, these figures can swing a lot from month to month.
Compared with the same period a year earlier, the share selling over asking was about the same (0% then), homes sold more slowly (48 days then) and the median sale price rose 53% to $204,811. Overall, Cannon is less competitive than a year ago, which gives buyers more room.
Within Knox County, homes here sell more slowly than in 86% of the county’s ZIP codes, and sell less often over asking than in any other ZIP code in the county.
Nearby, Flat Lick 40935 (33% sold over asking) and Barbourville 40906 (13% sold over asking) are even more competitive.
Run the numbers for 40923
Nearby markets
Artemus 40903Seller’s market $247 /sq ftBarbourville 40906Buyer’s market $113 /sq ftBimble 40915 — /sq ftBryants Store 40921 $155 /sq ft Browse all markets →Where Cannon is
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Questions about Cannon real estate
Is Cannon a buyer’s or seller’s market?
A seller’s market: there were 2.1 months of supply in Cannon, KY 40923 in the three months ending August 31, 2026. Under four months usually favors sellers, and more than six favors buyers.
How fast do homes sell in Cannon?
The typical home went under contract in 297 days in the latest three months.
Do homes in Cannon sell over asking?
0% of homes sold above their original list price, and the typical sale closed at 97.8% of the list price.
What are property taxes in Cannon?
About 0.66% of a home’s value a year in Knox County, or roughly $2,640 on a $400,000 home.
What is the median home price in Cannon?
The median sale price was $204,811 in the three months ending August 31, 2026, about $164 per square foot.
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Market data describes housing activity only. Figures are rolling 3-month values from Redfin and may be revised. Methodology