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June 2025 Real Estate Market Update: What You Need to Know
As we closed out the first half of the year, June brought some interesting insights into the East Tennessee real estate market. While activity didn’t hit record-breaking levels, there are strong indicators that the market remains healthy—just evolving toward a more balanced rhythm.
Here’s a quick look at how the market performed in June:
New Listings – In an interesting turn of events, the number of new listings that entered the market in June was down from May and down from April. Last year during June, the number of new listings took a similar slowdown.
However, you have to temper this information with the data that shows that the only other year where we had MORE listings in June was 2022. So, still a hearty number of sellers choosing to enter the real estate market.
Active Listings – There has been a steady climb of listings that were Active at some point this year, with June reaching a high mark. When compared to the overheated market of 2021, this means that buyers have nearly twice the number of choices available to them. This also means that sellers have twice the number of competitors.
Having more inventory causes a couple of negotiation reactions…buyers have more leverage in asking for reduced prices, concessions and repairs, and sellers have more reason to enter the market well-priced and well-prepared for sale.
Sales Pending – Not the highest number of homes going under contract, but also not the lowest. We did see more homes going under contract this June than in June of 2023 or 2024, which shows the market hasn’t necessarily lost its momentum, but it is perhaps moving at a more reasonable and normal pace.
Closed Units – Again, not the highest or lowest numbers in recent history, but better than we’ve seen in the past couple of years. We edged out 2023 by just a bit, but are comfortably ahead of last year.
Homes are going on the market, they are pending, and they are closing. As a seller, it’s important to work with an agent who understands the process and how to get your home market ready.
Months of Supply – We held steady in May and June in the Months of Supply category. Our timeline for running out of listings at the current pace of sales is still just over 5 months, which still puts our market in the category of being a “seller’s market.” It’s just not as obvious as it has been looking back a few years.
Median Sales Price – Our median sales price is almost identical this year to where we were last June. This means that prices haven’t fallen, but rather are steady.
So, rather than coming to the market expecting a large percentage increase in value over last year, sellers should temper their expectations. They haven’t necessarily lost value, but prices aren’t gaining as quickly as they once were. Again, a direct result of our supply and demand situation balancing out.
Average Days on Market – This number is also holding steady. Homes under our luxury price point are selling in about 60 days (on the market 15-30 days before connecting with a buyer), and luxury listings are taking about 73 days, or about 30-45 days before connecting with a buyer.
If you’re considering a move, this is a great time to work with a trusted real estate professional and approach the market with clarity. Whether you’re looking for your first home, selling your current one, or simply curious about market trends, I’m here to help you navigate this evolving market.
*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.
Wallace Partners with Knoxville Habitat for Humanity for July ReStore Donation Events
At Wallace, we believe that home is more than just a place—it’s the foundation for stability, opportunity, and community. That’s why we’re proud to team up with Knoxville Habitat for Humanity this July to host a series of ReStore Pop-Up Donation Stations at several of our office locations.
These donation events make it easy for you to give back by donating gently used home items that can help local families achieve the dream of homeownership.
Where and When to Donate
ReStore Donation Stations will be set up at the following Wallace offices from 10:00 AM to 6:00 PM:
- July 11–12 – Wallace Farragut (10815 Kingston Pike)
- July 18–19 – Wallace West (106 N. Peters Road)
- July 25–26 – Wallace North (3009 Tazewell Pike)
ReStore staff will be on-site to help unload items and provide donation receipts.
Why It Matters
When you donate to the ReStore, you’re helping Knoxville Habitat for Humanity build affordable homes for families in our community. Every donation supports their mission to create strength, stability, and self-reliance through shelter. You’re also helping reduce waste by keeping usable items out of landfills.
As Wallace COO Claudia Stallings shared, “Habitat’s mission aligns beautifully with who we are at Wallace. We believe that everyone deserves a place to call home, and this partnership gives our agents and clients a way to actively support that vision in a tangible, local way.”
What to Donate
ReStore accepts a wide variety of gently used items, including:
- Furniture
- Appliances
- Lighting
- Home décor
- Tools
- Cabinets
- Building materials
Before you load up your car, be sure to check the full list of acceptable items on the Knoxville Habitat ReStore website or call (865) 690-4214 for more information.
Help Us Spread the Word
Whether you’re donating a single item or a full truckload, your contribution makes a difference. And if you can’t donate this time, help us by spreading the word to your friends and neighbors. Together, we can build something truly meaningful.
We hope to see you at one of our Wallace ReStore Pop-Up Donation Stations this July!
Wallace Luxury Spotlight | 457 Smith Road Clinton, TN 37716
Your Private Tennessee Estate on 81 Acres of Possibility
Tucked away on eighty-one scenic acres in East Tennessee, this extraordinary property offers the perfect blend of refined comfort and wide-open potential. Whether you’re dreaming of a private retreat, a working farm, or simply space to breathe, this home is ready to meet the moment.
At the heart of the property is an expansive, upscale farmhouse with timeless style and a stunning hilltop backdrop. The covered front porch calls for a porch swing and long conversations, while the covered back porch offers peaceful views of the inviting in-ground pool—ideal for relaxing or entertaining.
Step inside and you’ll find generous living spaces, tall ceilings, and warm hardwood floors. Just off the entry is a dedicated home office, along with a music room or formal dining space, depending on your needs. The kitchen is a chef’s dream with a gas stove, wine storage area, walk-in pantry, and a substantial island offering both workspace and seating.
This thoughtfully designed home also includes:
- Geo-thermal heating system for energy efficiency
- Backup generator for added peace of mind
- Walk-in closets and extra storage throughout
- Mudroom and convenient laundry chute
- Built-in shelving for both function and charm
- A main-level 3-car garage, plus additional garage space in the basement
- Xfinity TV and Wi-Fi access
The land itself is a rare find—81 acres of flat and rolling terrain, with a creek running through and a recorded Greenbelt application already in place. The property offers opportunities for hay production, crops, or livestock. An older outbuilding is currently being used for storage, adding even more utility.
Though it feels like a world of your own, the location is just a short drive to Oak Ridge and Clinton, combining the best of rural tranquility with convenient access to town.
Listed by Sally Sparks – Wallace Real Estate Lakeside Office | Click here for more information.
Wallace Luxury Spotlight | 132 David Road Clinton, TN 37716
Classic Charm Meets Modern Comfort on Nearly 4 Acres
Welcome to a property that truly has it all—beauty, space, and flexibility. Set on 3.94 level, meticulously manicured acres, this timeless farmhouse-style home blends classic Victorian architecture with the modern features today’s homeowners crave.
From the moment you arrive, the wide wraparound porch invites you to slow down and savor the setting. Mornings feel sweeter here, with coffee in hand and views of your private grounds. Afternoons are made for relaxing by the pool and hot tub, while evenings are best spent in the cozy sunroom, where a fireplace casts a warm glow as the sun sets across the landscape.
Inside, the home is filled with thoughtful touches—from soaring ceilings to rich wood finishes that add warmth and character. The chef’s kitchen is fully equipped with high-end appliances, including a Wolf range and Sub-Zero refrigerator, along with ample counter space for meal prep or entertaining.
The main-level primary suite offers a quiet retreat with ultimate convenience, while two additional bedrooms and a full bath are tucked upstairs.
Need room for guests, teens, or multigenerational living? You’ll find nearly 1,000 square feet of additional living space in the apartment above the detached three-car garage. Complete with its own kitchen and dining area, living room, bedroom, and bath, it’s ideal for extended stays or long-term use.
This property also includes:
- A dedicated home office with built-in shelving
- A secure safe room
- A separate pool storage room
- An outdoor kitchen and bath, perfect for entertaining
- A brand-new pool liner
- A $35,000 roof replacement, just completed
Every inch of this home has been designed for comfort, flexibility, and enjoyment—indoors and out.
Listed by Debbie Yankey – Wallace Real Estate Farragut Office | Click here for more information
Explore the Great Outdoors in East Tennessee
Whether you’re new to the area or a lifelong local, East Tennessee is filled with outdoor gems waiting to be discovered. From scenic nature trails to family-friendly splash pads, there’s something for everyone—right here in our own backyard. Here are a few of our favorite spots to explore this season:
🌿 Ijams Nature Center – A Knoxville favorite, Ijams offers over 300 acres of natural beauty, with hiking and biking trails, climbing areas, paddleboarding, and wildlife viewing. It’s a perfect place to reconnect with nature—just minutes from downtown.
💧 Augusta Quarry at Fort Dickerson Park – Recently reopened, this hidden treasure is nestled inside one of Knoxville’s Civil War-era forts. The turquoise waters of Augusta Quarry are a stunning backdrop for a hike, paddle, or peaceful picnic.
🌅 Aspire Park – Clinton, TN – This brand-new addition to the region features scenic overlooks, walking paths, and a unique terraced design built into a former mining site. Aspire Park is a great destination for a weekend adventure just a short drive from Knoxville.
🌺 UT Gardens – Located on the University of Tennessee’s agricultural campus, this free and ever-changing botanical garden is open daily. It’s a beautiful spot for a leisurely stroll, photo ops, or simply soaking in the season’s colors.
🐦 Seven Islands State Birding Park – A haven for bird watchers and nature lovers, this 400-acre park along the French Broad River is home to more than 200 species of birds. Wide trails make it easy to explore on foot or bike.
💦 McFee Park – Farragut – A must-visit for anyone who needs to cool off, McFee Park features one of the area’s best splash pads, along with playgrounds, trails, and plenty of open space to run and play.
No matter your pace or interest, there’s an outdoor escape nearby to match. As your local real estate expert, I understand the market as well as the lifestyle. Living in East Tennessee means having natural beauty and outdoor adventure around every corner.
Thinking about planting roots in a place that offers more fresh air, more fun, and more community? Let us help you find the perfect home base for your next adventure.
Wallace Luxury Spotlight | 413 Boxwood Square Knoxville, TN 37919
Sophistication and Style in the Heart of Sequoyah Hills
Welcome to 413 Boxwood Square—an elegant brick residence that combines timeless design, top-tier finishes, and an unbeatable location. From the moment you arrive, it’s clear that this home is something special. Every room reflects thoughtful design and refined taste, creating a living experience that truly exceeds expectations.
The main level offers generous and flexible living spaces, including a spacious family room (currently serving as both an office and gathering space), a wood-burning fireplace, and a sun-drenched bonus room perfect as a sunroom or secondary lounge. Whether entertaining guests or enjoying a quiet evening in, the stylish wet bar, formal dining room, and well-appointed powder room add to the home’s functionality and charm.
At the heart of the home is a chef’s dream kitchen, featuring:
- Sub-Zero refrigerator
- WOLF gas cooktop and double ovens
- BOSCH dishwasher
- Quartz countertops
- Custom cabinetry
- Center island with seating
- Hidden pantry for seamless storage
Gleaming hardwood floors flow throughout the main level, adding warmth and character to the space.
Upstairs, you’ll find two oversized bedrooms, a laundry room, and a versatile home office or studio that could serve as a third bedroom. The primary suite is a true retreat with its marble-surround gas fireplace, walk-in closet, additional coat/shoe closet, and a spa-like en-suite bath featuring a soaking tub, expansive vanity, custom-tiled walk-in shower, and private water closet.
Additional upstairs highlights include:
- Vaulted ceiling in the secondary bedroom
- Updated bathroom
- Ample built-ins for storage and display
Outside, the low-maintenance backyard is an oasis of its own, complete with a beautiful stone patio perfect for grilling and entertaining. The professionally designed gardens are a showpiece in every season.
Located in the coveted Sequoyah Hills community, you’re just a short distance from Cherokee Boulevard, the Tennessee River, and some of Knoxville’s best parks, shops, and dining. With close proximity to UT and Downtown, this home offers the perfect blend of tranquility and convenience.
Listed by Jinger Kelson – Wallace Real Estate Bearden Office | Click here for more information.
