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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.
