🏡 East Tennessee Real Estate Market Update – September 2025

By Ryan & Jessica Strunk, REALTORS® | Wallace Real Estate

A Balanced Market Returns to East Tennessee

September’s housing data shows what many of us in the field have been feeling — the East Tennessee market is finding its balance again. Listings are still strong compared to last year, but we’re seeing the typical late-summer slowdown in new inventory.

That means buyers will have fewer fresh listings to choose from as we close out the year, and those who wait could face stiffer competition once interest rates start to shift. The takeaway? The best time to buy is when others are sitting on the sidelines.

📈 New Listings: Up Year-Over-Year, but Slowing Seasonally

September brought an increase in listings compared to previous years. However, we’re following the usual trend where activity tapers off starting in August.

In the luxury market, the benchmark recently shifted from $650,000 to $800,000 to better reflect East Tennessee’s true price landscape. Listings in this range have held steady month-to-month since June — showing that this market is strong, but not flooded.

🏠 Active Listings: Sellers Are Confident

Active inventory has climbed throughout 2025, reflecting a healthy market where sellers are listing — and buyers are taking a little more time to make decisions.

Luxury listings above $800K have also increased gradually, creating more high-end opportunities for serious buyers ready to make a move.

📊 Sales Pending: A Fall Bounce-Back

After a noticeable dip in August, pending sales rebounded in September, setting us up for solid October closings. Even with interest rate discussions swirling, buyers are still active — especially in the move-up and luxury categories.

💰 Closed Units: Right on Seasonal Track

Fewer contracts in August meant fewer closings in September — but this is perfectly normal for this time of year. If you look back at historical trends, you’ll see the same pattern across 2023 and 2024.

🗓 Months of Supply: A Balanced Market Is Back

We’re currently sitting just over six months of inventory, marking a balanced market — something East Tennessee hasn’t seen in a while.

For homes priced between $650K–$800K, supply dipped slightly, but properties over $800K saw an increase as more listings entered and took longer to sell.

This isn’t a slowdown — it’s a stabilization. Balanced markets are where experienced agents shine, because strategy and marketing truly make the difference.

💵 Median Sales Price: Steady and Strong

For homes priced at $800K and above, the median sales price remains just above $1,000,000, showing that the luxury sector is still performing well.

Across all price points, median prices have held steady for 21 consecutive months. The “price drops” you hear about nationally are often inflated list prices normalizing — not actual sale prices falling.

⏱ Days on Market: Patience Pays

Luxury homes ($800K+) are averaging 100+ days on market, and the rest of the market sits around 70 days. Sellers should plan accordingly — realistic timelines and strong marketing are key.

At Sold By Strunk, we use the perfect blend of old-school hustle and modern digital marketing to make sure every listing gets the exposure it deserves — even when buyers are moving slower.

📞 Ready to Talk About Your Next Move?

Whether you’re thinking about buying before competition ramps back up or selling before the year ends, we’d love to walk you through your options and local market strategy.

📲 Ryan & Jessica Strunk, REALTORS®
🏠 Wallace Real Estate
📞 Cell: (865) 566-8162 | Office: (865) 687-1111
🌐 www.SoldByStrunk.com