Facebook
X
Pinterest
Copy Link
September 2025 Real Estate Market Update: What You Need to Know
East Tennessee Real Estate Market Update – September 2025
As we move into the final months of the year, East Tennessee’s real estate market continues to show signs of balance. While new listings are beginning their usual seasonal slowdown, steady pricing and healthy inventory levels signal that the market remains strong and active.
Here’s a look at how things shaped up in September 2025.
New Listings
New listings were higher this September than in the same month of previous years, though a typical late-summer slowdown has begun. It’s common to see fewer new homes enter the market beginning in August, meaning buyers may have fewer “fresh” choices as the year winds down.
For buyers, this could mean two things: some may choose to wait until spring for more options, while others may face greater competition for available homes this fall. Interest rate trends will likely guide those decisions in the months ahead.
On the luxury side, listings in this category have remained fairly steady since June, indicating consistent seller confidence at the higher end of the market.
Active Listings
Active listings across East Tennessee remain noticeably higher than in 2024. This growth reflects a combination of strong listing activity and slightly longer time on the market for many homes.
Luxury properties priced at $800,000 and above have also increased steadily this year, giving buyers in that segment more choices than they’ve had in recent seasons.
Homes Under Contract
After a dip from July to August, the number of homes that went under contract in September rebounded slightly and outpaced the same month in recent years. That’s a positive sign for fall closings and suggests continued buyer engagement despite seasonal shifts.
In the luxury market, pending sales remained relatively steady from August to September—another indicator of a stable, balanced market.
Closed Sales
Because of the dip in pending contracts in August, September closings also experienced a slight drop. However, this mirrors the same pattern we’ve seen in previous years, reminding us that these fluctuations are seasonal and expected. The exceptions to that trend were the extraordinary pandemic years of 2020 and 2021, which don’t reflect typical market behavior.
Months of Supply
Inventory levels (measured by months of supply) tell an important part of the story. Homes priced between $650,000 and $800,000 saw a decrease in supply, while those priced above $800,000 saw an increase. That means more high-end homes are staying on the market longer, contributing to higher supply in that tier.
Overall, East Tennessee’s market is now sitting at just over six months of supply—historically considered a balanced market. While things may feel slower than in recent years, this level of activity is healthy and normal.
Median Sales Price
For homes priced above $800,000, the median sales price was just over $1 million in September. That suggests a strong concentration of sales in the true luxury range.
Across the broader market, median prices have held steady for an impressive 21 consecutive months. While national headlines may mention “falling prices,” much of that likely reflects inflated list prices being adjusted downward—our actual closing prices remain stable.
Days on Market
Luxury properties are taking longer to sell, with homes over $800,000 averaging more than 100 days on the market. Sellers in this price range should be prepared for a longer timeline and realistic expectations when listing their home.
What It All Means
As the East Tennessee market continues to normalize after several years of rapid change, buyers and sellers alike can take confidence in its stability. Pricing remains consistent, inventory is healthy, and opportunities exist on both sides of the table.
Whether you’re thinking about buying or selling, as your trusted Wallace Real Estate professional, I can help you navigate the market with expert insight and local knowledge.
*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.
Wallace Luxury Spotlight | 246 Landmark Drive New Tazewell, TN 37825
Lakefront Living with Acreage, Privacy, and Endless Views on Norris Lake
Experience true lakefront living in this stunning custom log home, listed by Zoe Ferrell with Wallace Bearden Office. Set on nearly two acres across two lots, with 370 feet of water frontage and year-round lake access, this property offers the perfect blend of rustic charm, modern comfort, and endless outdoor enjoyment.
The home comes fully furnished and features five bedrooms and four and a half bathrooms. Inside, cathedral ceilings and a wall of windows frame breathtaking views of Norris Lake, while hardwood maple floors, granite countertops, and custom cabinetry showcase timeless craftsmanship.
The main level includes a private primary suite with a walk-in closet, full bath, and deck access. Upstairs, you’ll find two additional bedrooms, each with their own full bath, along with a loft bonus space. The expansive lower level offers flexibility with a game area, two more bedrooms, full bath, laundry, and additional living space—all with sealed concrete floors for durability and style. Both levels provide seamless indoor-outdoor flow with deck access.
Outdoor living is where this home truly shines. Two expansive decks, recently updated with new upper decking and railing, provide the perfect perch for soaking in panoramic lake views. A firepit and additional deck near the dock landing create cozy spots to enjoy evenings by the water. The private dock features an oversized slip, sundeck, and easy golf cart path access, while new rip rap provides shoreline protection.
For added privacy and long-term value, the adjacent lot will also convey with the sale, providing extra space and future building potential. The paved driveway offers plenty of parking with minimal slope, a rare find for lakefront living.
Community amenities include a clubhouse, boat docks, picnic pavilion and firepit, trailer parking, a walking trail, and high-speed fiber optic internet. Conveniently located, the property is a short boat ride to Norris Landing Marina and Beach Island Marina, and just 40 minutes from Cumberland Gap National Historical Park.
Highlights include:
-
5 bedrooms, 4.5 baths, fully furnished
-
370 feet of Norris Lake frontage with year-round water access
-
Private dock with oversized slip, sundeck, and shoreline protection
-
Two expansive decks plus firepit and dockside deck
-
Primary suite with private deck access
-
Spacious lower level with flexible living space
-
Adjacent lot included for privacy and future potential
-
Neighborhood amenities: clubhouse, docks, pavilion, trails, and fiber internet
-
Easy drive times: 1 hr to Knoxville, 2.5 hrs to Lexington, 4 hrs to Cincinnati, 9 hrs to Destin
With acreage, privacy, water access, and modern amenities, this Norris Lake retreat is a rare opportunity.
Listed by Zoe Ferrell – Wallace Real Estate Bearden Office | Click here for more information.
Wallace Luxury Spotlight | 1273 Bishops View Lane Knoxville, TN 37932
Stunning Smoky Mountain Views with Easy Main-Level Living
Breathtaking views, modern comfort, and effortless living come together in this beautiful 1.5-story brick and stone home, listed by Deborah Saunders with Wallace Farragut Office. From the moment you arrive, you’ll notice the care and craftsmanship that make this property truly move-in ready.
The main level is thoughtfully designed for convenience, featuring three bedrooms, laundry, and spacious living areas—all on one floor. Upstairs, a large bonus room with a full bath and attic storage provides incredible flexibility. It could easily serve as its own private retreat or additional primary suite.
Every finish throughout the home reflects quality and style, creating a warm yet sophisticated atmosphere. But the crown jewel is found outside: your own private backyard oasis. A spacious brick paver patio, oversized deck, and fully equipped outdoor kitchen set the stage for unforgettable evenings, all with uninterrupted Smoky Mountain views as your backdrop.
Life here is designed to be simple and peaceful. The quiet, low-traffic community handles the outdoor maintenance—mowing, mulching, and more—so you can focus on enjoying your home. Plus, you’ll love the location: just minutes to Turkey Creek shopping, hospitals, greenways, and easy I-40 access.
Highlights include:
- Stunning Smoky Mountain views from your backyard
- Main-level living with 3 bedrooms and laundry
- Oversized bonus room with full bath and attic storage
- Outdoor kitchen, brick paver patio, and expansive deck
- Low-maintenance living with HOA covering lawn care
- Convenient access to Turkey Creek, greenways, and hospitals
If you’ve been searching for a serene modern retreat with breathtaking views, this one is not to be missed.
Listed by Deborah Saunders – Wallace Real Estate Farragut Office | Click here for more information.
Savoring September in East Tennessee
There’s just something about September in East Tennessee. The long, hot days of summer start to fade, the mornings turn crisp, and the evenings are made for sweaters and cozy get-togethers. It’s the perfect time to slow down, soak up the beauty around us, and enjoy all the little things that make this season special.
One of the most beloved fall traditions is a visit to a local pumpkin patch. Whether you’re bringing little ones to pick the perfect pumpkin, navigating a corn maze, or simply soaking in the autumn scenery, farms across East Tennessee offer plenty of opportunities to make memories. Many also feature hayrides, farm animals, and delicious seasonal treats that make the trip feel like a step back in time.
September is also a season for connection. Maybe that means gathering friends for a backyard bonfire or exploring the growing number of food and drink experiences around Knoxville. East Tennessee has a wide range of unique gathering spots, from pubs and breweries, to wine bars and eateries with cuisine of all types. Fall is also a great time to sample all the seasonal menus available at your favorite coffee shop. Let’s not forget the coffee shops and bakeries rolling out their pumpkin spice favorites this time of year.
If you’re more of a hands-on foodie, fall is the perfect season to try a cooking class. Knoxville’s culinary scene offers everything from beginner lessons to themed nights that make for a fun date. Pair that with a stop at the farmers’ market, and you’ll have all the fresh inspiration you need to bring a little taste of the season home.
And sometimes the simplest traditions are the best. Friday nights at the local high school football game, Saturdays spent cheering on the Vols, or a scenic drive through the hills as the leaves begin to change—all of these remind us why East Tennessee is such a special place to live.
At Wallace, we’re grateful to call this region home, especially during a season as vibrant as this one. However you choose to spend September, we hope it’s filled with connection, joy, and plenty of memories worth savoring.
August 2025 Real Estate Market Update: What You Need to Know
As summer winds down, the East Tennessee housing market is showing its usual seasonal shifts. Learn more about the latest trends from August and what they could mean for both buyers and sellers in the months ahead.
New Listings
Each year, August tends to bring a dip in new listings, and 2025 is no different. Between last-minute vacations and the start of school, fewer homes are hitting the market. However, with interest rates edging downward and many buyers waiting on the sidelines, the homes that do list now could see increased attention and potentially shorter days on the market.
Active Listings
Buyers in August had about the same number of active listings to choose from as they did in July. Historically, this is the time of year when inventory peaks before heading into a steady decline through fall and winter. That means now may be the sweet spot for buyers—rates are improving, and choices are still strong.
Sales Pending
Contracts written in August closely mirrored last year’s numbers, though they fell sharply from July. Typically, that kind of dip happens a little later in the season, so it’s worth keeping an eye on. Sellers should take note: competition is strong, and proper pricing is key. Buyers, meanwhile, still have a healthy number of options, but that window may not last.
Closed Units
Closings rose from July to August, which makes sense when we look back at the strong pending sales in July. These two figures often move together but about a month apart. With pending contracts down in August, September closings will likely follow suit with a decline.
Months of Supply
The supply of homes dipped in August, partly due to fewer new listings and a wave of pending sales. The luxury segment in particular saw notable activity—likely influenced by the season. Many higher-end sellers prefer to list when pools, landscaping, and lake views are at their peak, so as summer ends, this category often thins out quickly.
Median Sales Price
While the median sales price has held steady—“flat as a pancake,” as Wallace COO Claudia Stallings puts it—that stability tells its own story. Despite higher interest rates, political uncertainty, and greater competition among sellers, there’s still enough buyer demand in our region to keep prices from falling.
Average Days on Market
The average time a home spends on the market remains steady at just over two months. This consistency has been the theme all summer. Last year, days on market started creeping up in the fall, and we may see a similar trend again.
What This Means for You
For sellers, pricing competitively is more important than ever, especially with buyers having a strong set of options right now. For buyers, the combination of favorable rate movement and solid inventory makes this a great moment to act—before choices begin to narrow in the months ahead.
I’m here to guide you through the shifting market, helping you make the most of today’s opportunities.
*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.
Wallace Luxury Spotlight | 302 Coweta Court Loudon, TN 37774
Custom-Built Home with Lake Views in Tellico Village
Set in the desirable North side of Tellico Village, this custom-built all-brick home offers timeless design, a thoughtful floor plan, and the perfect blend of convenience and lake living. Built in 2020, the 1.5-story residence spans 2,661 square feet and is ideally located closer to Knoxville while still enjoying all that Tellico Village has to offer.
Inside, hardwood floors flow throughout the open-concept living spaces, designed with both everyday comfort and entertaining in mind. The welcoming living room features a cozy gas fireplace, while the granite-appointed kitchen is complete with a gas stove and modern finishes. On the main level, three bedrooms include a spacious primary suite, along with two and a half baths. Upstairs, a private fourth bedroom with a full bath provides the perfect guest retreat or quiet escape, plus additional storage.
Outdoor living shines with a screened porch and open deck overlooking peaceful lake views. A two-car garage with extra storage and a walk-in attic on the second floor add even more function to this beautifully maintained property.
Living in Tellico Village means embracing a vibrant lifestyle. The community offers amenities such as golf, tennis, swimming pools, hiking and biking trails, dog parks, recreational centers, and the Yacht Club. POA fees cover a wide array of services, including road and street maintenance, landscaping, stormwater management, and access to multiple fitness centers, lakeside beaches, pools, and trails. As of September 2025, the monthly POA fee is $181.53 per home (prospective buyers should confirm current rates with the association).
Whether you’re seeking a home that supports an active, social lifestyle or a peaceful retreat with lake views, this Tellico Village property offers the best of both worlds.
Listed by Caroline Badgett – Wallace Real Estate | The Agents Who Care | Click here for more information.
Wallace Luxury Spotlight | 2029 Windy Lane Sevierville, TN 37876
Charming 4-Bedroom Log Cabin in Pigeon Forge – Turnkey Rental or Mountain Retreat
Welcome to your Smoky Mountain escape! Built in 2017 and set on over an acre, this stunning 4-bedroom, 2-bath log cabin in Pigeon Forge blends rustic charm with modern luxury. Whether you’re seeking a private getaway or a proven investment property, this fully furnished retreat delivers on every level—with an estimated $70K in annual rental revenue.
Step inside to find an inviting open-concept design, where the spacious living room, dining area, and gourmet kitchen flow seamlessly together. The kitchen is a true highlight, featuring granite countertops, stainless steel appliances, a center island, and breakfast bar. Every detail, from the high-quality furnishings to the tankless water heater, has been thoughtfully chosen for comfort, efficiency, and style.
Entertainment and relaxation come easy here. Enjoy the hot tub, unwind in the game area, or take in the mountain scenery from multiple outdoor living spaces. A covered front porch with classic rocking chairs, wraparound deck with outdoor swing, and fenced front yard provide endless ways to savor the fresh mountain air.
With four bedrooms, the cabin comfortably hosts larger groups, making it highly desirable as a vacation rental. And with its prime location just minutes from Sevierville, Pigeon Forge, Gatlinburg, and the Great Smoky Mountains National Park, guests and owners alike enjoy the perfect balance of convenience and retreat.
Whether you envision it as your personal getaway or a high-performing short-term rental, this property checks every box—modern construction, premium finishes, strong rental history, and unmistakable Smoky Mountain charm.
Listed by Jennifer Scates – Wallace Real Estate | Click here for more information.
Wallace Luxury Spotlight | 5980 Lakeside Drive Lenoir City, TN 37772
Endless Possibilities on 6.1 Acres of Waterfront Property
Opportunities like this don’t come around often—6.1 acres of prime, dockable waterfront property perfectly situated between West Knoxville and Lenoir City. With over 650 feet of shoreline, this property offers a rare combination of space, privacy, and direct access to the water, making it an exceptional find for those seeking to build their dream retreat.
The gently rolling land provides several quality building sites, with beautiful water views framed by large, mature trees that add both shade and character. Whether you envision a custom estate, a private getaway, or a multi-use investment property, the absence of HOA fees and restrictions means your options are wide open.
A soil map from 2022 and a survey from 2004 are available for review, providing helpful insights for potential development. With endless design possibilities and the freedom to create exactly what you want, this property is more than just land—it’s a blank canvas for your vision of waterfront living.
For additional details or guidance before visiting the property, please contact the listing agent directly.
Listed by Jim Dingus – Wallace Real Estate, North Office | Click here for more information.
Wallace Luxury Spotlight | 322 Blount Circle Rutledge, TN 37861
Luxury Lakefront Living on Cherokee Lake
Discover luxury lakefront living at its finest in this exceptional home located in the sought-after community of Grainger’s Landing. Perfectly situated on a gently sloping waterfront lot, this property combines modern elegance with the tranquility of Cherokee Lake, offering the lifestyle you’ve been dreaming of.
Inside, the home welcomes you with an open-concept kitchen that blends seamlessly into the living spaces, making it ideal for both everyday living and entertaining. The spacious bedrooms and bathrooms provide comfort and privacy, while thoughtful upgrades throughout showcase the care and attention poured into every detail. With a huge unfinished basement, there is abundant potential for future expansion—whether you envision a home theater, fitness area, or guest suite.
One of the standout features is the oversized covered deck overlooking the sparkling waters of Cherokee Lake. It’s the perfect place to start your morning with a quiet coffee, gather with friends for evening sunsets, or simply take in the beauty of lakeside living.
Grainger’s Landing enhances this incredible property with resort-style amenities, including a private marina, swimming pool, tennis court, and clubhouse. Gated for privacy and security, this welcoming community offers both relaxation and recreation, making it one of the premier lakefront destinations in East Tennessee.
Move-in ready and meticulously maintained, this home is truly a rare find—balancing timeless style, comfort, and an unbeatable location on Cherokee Lake.
Listed by Jim Dingus – Wallace Real Estate, North Office | Click here for more information.
Wallace Luxury Spotlight | 1282 Burgandy Place Knoxville, TN 37919
A Rare Find in The Westlands – Updated 4-Bedroom Condo
Located in the heart of one of Knoxville’s most desirable communities, this stunning 4-bedroom updated condo offers a perfect blend of elegance, comfort, and convenience. From the moment you arrive, the landscaped pergola entrance, gated patio, and enclosed sunroom with skylights welcome you with style and light, setting the stage for everything that lies inside.
At the heart of the home, a soaring cathedral great room makes a dramatic impression. A marble-trimmed fireplace framed with a traditional painted mantel and dentil molding adds timeless character, while natural light from the sunroom pours across the space. Just off this area, a formal dining room with crown molding opens gracefully to the kitchen, where white cabinetry, solid surface Corian countertops, and stainless steel appliances provide both beauty and function. A cozy adjoining den overlooks the private landscaped patio—ideal for both quiet mornings and relaxed evenings.
The main-level primary suite is a true retreat, featuring its own enclosed patio, a walk-in shower with glass doors, whirlpool tub, and neutral tile floors. The adjoining dressing area offers a Corian-topped vanity, mirrored double closets, and ample storage. Also on the main level, you’ll find a powder room with an antique sink chest, a separate laundry room with washer and dryer, gleaming hardwood parquet floors throughout the main living spaces, and an office that could easily serve as a second bedroom.
The lower level expands the possibilities with a spacious family room, sliding glass doors that open to a landscaped courtyard patio, and a large wet bar with sink that could easily function as a second kitchen. Bedrooms three and four each have their own private bath and walk-in closet. Flexible finished spaces provide room for exercise, hobbies, or storage, while additional closets and utility rooms help keep everything organized.
This residence also features a main-level, two-car garage with level entry—offering ease and convenience. Every detail has been thoughtfully designed, from the architectural trim to the beautiful finishes throughout.
Beyond the home itself, The Westlands community offers a newly renovated clubhouse, a saltwater pool, expansive green space, and gated security—all set against beautifully landscaped grounds. With a casual, maintenance-free lifestyle, this is where comfort meets sophistication.
Monthly HOA: $550 | Annual Fee: $2,400 | One-time Buyer Transfer Fee: 0.5% of purchase price at closing
Listed by Joyce Tapscott – Wallace Real Estate | Click here for more information.
