Market StatsReal Estate News & Trends December 11, 2025

November 2025 Real Estate Market Update: What You Need to Know

East Tennessee Real Estate Market Update: November Trends Point to a More Balanced Market

As we moved through November, the East Tennessee real estate market continued to show signs of normalization—something we haven’t been able to say for several years. While this time of year traditionally brings a seasonal slowdown, the data reveals a market that is increasingly balanced, increasingly confident, and increasingly favorable for both buyers and sellers who are prepared.

New Listings Continue to Climb

Historically, November tends to bring fewer new listings to the market. However, this year followed a different pattern. New listings have been climbing, and November continued that upward trend. More sellers are stepping forward, and in many cases, those sellers will also become buyers—either locally or in another market. For buyers entering the market strictly as purchasers, this increase in inventory means more choices and less urgency.

Active Listings Show Steady Inventory Growth

Inventory continues to expand across the region, easing some of the intense pressure buyers have experienced in past years. We may not be in buyer’s market territory yet, but gone are the days of panic buying. With more competition among listings, sellers must be intentional about pricing and presentation. A home that isn’t positioned well from the start risks lingering on the market.

At the same time, both sides of the transaction need guidance as the market shifts. Conversations about inspections, appraisals, and renegotiations should happen early—before emotions run high. Preparedness is essential for keeping buyers and sellers at the table all the way to closing.

Sales Pending Reflects Steady Momentum

Sales activity continues to strengthen. 2024 outpaced 2023, and 2025 is already shaping up to outpace 2024. Increasing consumer confidence and more available inventory are major contributors. Buyers who paused during the 8% interest rate environment are returning with renewed motivation.

Closed Sales Show a Predictable, Healthy Pattern

Closed units this November outperformed the past two years when comparing the pipeline of homes that went pending in early fall. This is another strong indicator that the market is stabilizing. Sellers who feel uneasy about days on market or slower showing activity may need reassurance: demand isn’t declining—it’s simply less frenzied. Today’s buyers browse more, compare more, and often wait to see if better-suited inventory becomes available. Patience is now part of the process.

Months of Supply Ticks Up Seasonally

Months of supply naturally rises this time of year, largely due to the seasonal slowdown—not because of waning demand. The increase isn’t enough to move East Tennessee into buyer’s market conditions. Instead, the market is functioning steadily, with properties coming online and going under contract in a relatively consistent rhythm. Sellers can no longer rely on scarcity to do the heavy lifting, and buyers now have the luxury of choice.

Median Sales Price Remains Strong

For more than a decade, home prices in our region have increased year over year, and 2025 is no exception. There is no indication of softening or reversal. Thanks to strong migration trends and steady demand, East Tennessee continues to experience moderate, sustainable price growth. We are on track to finish the year at or slightly above where we began.

Average Days on Market Hold Steady

With more inventory available, it’s natural for the average days on market to increase—but the upward shift we saw last year has since stabilized. This reflects healthier inventory levels rather than slowing buyer interest.

Still, the takeaway for sellers is clear: to outperform the averages, a property must be positioned well from day one. Homes that lack preparation, presentation, or proper pricing will simply be bypassed.

Whether you’re considering listing your home, making a move, or simply curious about your neighborhood’s trends, I can help you navigate the market with clarity and confidence.

*Stats provided with permission from the East Tennessee Realtors Multiple Listing Service. As reported by Claudia Stallings, Wallace Real Estate COO.

Luxury December 11, 2025

Warmth, Wonder, and Winter Safety: What to Know About Your Fireplace This Season

As the holidays approach and Santa prepares his annual trip down the chimney, many East Tennessee homeowners are turning their attention to the glow of a cozy fire. Fireplaces remain one of the most beloved features in a home—adding charm, warmth, and that unmistakable sense of winter comfort. Whether you have a traditional wood-burning hearth or a modern gas fireplace, taking the right precautions helps ensure your home is safe all season long.

Here’s a helpful guide to understanding different types of fireplaces and the steps homeowners should take to keep everything running safely—especially if it’s been a while since you’ve used yours.

Wood-Burning Fireplaces

Wood-burning fireplaces offer timeless ambiance with the crackle, smell, and warmth only real firewood can provide. But because these rely on true flame and venting, regular maintenance is essential.

Tips for wood-burning fireplace safety:

  • Schedule an annual chimney inspection by a certified professional to check for soot buildup, blockages, or creosote—one of the leading causes of chimney fires.
  • Burn only dry, seasoned hardwoods. Wet or soft wood creates more smoke and buildup.
  • Always use a screen or glass door to prevent sparks from escaping into the room.
  • Keep flammable items—including stockings hung for Santa—a safe distance from the hearth.
  • Make sure your damper is fully open before lighting a fire, and allow the fire to burn out completely before closing it.

Gas Fireplaces

Gas fireplaces offer convenience, energy efficiency, and instant warmth. They’re especially popular for homeowners who want the ambiance of a fire without hauling wood or cleaning ash. But even though they burn cleaner than wood, they still require routine care.

Tips for gas fireplace safety:

  • If you haven’t used your gas fireplace in several years, schedule a professional inspection before turning it on. A technician can check gas lines, ventilation, the ignition system, and ensure there are no leaks.
  • Make sure carbon monoxide detectors in your home are functioning and placed near bedrooms.
  • Clean the glass, logs, and surrounding components gently each season to remove dust and debris.
  • Never try to repair ignition issues or gas odors yourself. If you notice a smell or suspect a leak, shut off the gas supply, leave the home, and contact the gas company immediately.
  • Keep pets and small children at a safe distance—gas units can become hot to the touch.

If You Haven’t Used Your Fireplace in Years

This scenario is more common than you might think. One Wallace agent recently had a client with a gas fireplace they hadn’t turned on in six years. In cases like this—whether wood-burning or gas—the rule of thumb is simple: do not attempt to use it until it has been professionally inspected.

A certified technician or chimney sweep can:

  • Test functionality
  • Check for obstructions, nests, or buildup
  • Inspect ventilation
  • Confirm proper gas flow and safety features
  • Clean interior components
  • Ensure everything meets current safety standards

A quick check now can prevent costly repairs or dangerous situations later.

A Season Made for Cozy Moments

From holiday gatherings to quiet nights by the fire, winter has a way of drawing us closer to home. And while Santa may be the most famous chimney visitor of all, he would surely agree that a well-maintained fireplace makes for a safe and magical holiday season.

If a fireplace is on your wish list—or you’re looking to upgrade your home—I’m here to help. Many East Tennessee properties feature beautiful wood-burning or gas fireplaces, and our experienced team can guide you through what to look for, what to ask, and how to keep your home warm and comfortable for years to come.

Luxury Spotlight December 10, 2025

Wallace Luxury Spotlight | 6809 Beaver Brook Drive Knoxville, TN 37918

Prepare to be captivated by this extraordinary custom-built residence overlooking Beaver Brook Country Club, where nearly an acre of beautifully positioned land offers panoramic views of the golf course and surrounding mountains. From the moment you arrive, the craftsmanship and architectural intention behind this home are evident—every detail has been designed to elevate daily living while creating unforgettable spaces for gathering, relaxing, and celebrating life’s moments.

Upon entering the home, soaring ceilings, rich wood beams, and walls of windows immediately frame sweeping vistas that feel like living artwork. Natural light fills the open-concept layout, highlighting warm textures and thoughtfully curated finishes throughout. The main level flows effortlessly, offering inviting spaces for hosting, quiet moments, or simply taking in the beauty that surrounds the property.

The outdoor living area is nothing short of exceptional. An expansive deck and patio extend the home’s entertaining potential, anchored by a beautiful fire pit and a sparkling saltwater gunite pool—a true oasis designed for sunny afternoons, peaceful mornings, and breathtaking sunset views over the mountains.

The luxurious primary suite provides a private retreat on the main level, complete with dramatic ceilings, three generous walk-in closets, and its own balcony overlooking the picturesque landscape. The newly remodeled bathroom feels spa-inspired, featuring a soaking tub, a beautifully tiled walk-in shower, and elegant finishes that make this space a sanctuary.

Upstairs, a custom-designed family and game room adds an impressive dimension to the home. With tongue-and-groove ceilings, exposed beams, a wet bar, and a dedicated game area, it’s ideal for entertaining on a grand scale. A wall of windows captures panoramic views of the golf course and mountains, creating an unforgettable backdrop. (The pool table remains with the home.)

The home’s architectural pedigree adds to its distinction—designed by the same architect who created Beaver Brook Country Club, it carries a cohesive style and unique character rarely available on the market. Modern updates ensure ease and comfort, including new lighting throughout, newer appliances, updated bathrooms, refreshed paint and flooring, a brand-new aluminum fence, newer HVAC, two tankless water heaters, and a roof installed in 2022. Additional features include a convenient upstairs kitchenette, two fireplaces, abundant storage, and custom built-ins.

Located just across from Beaver Brook Country Club, the home offers easy access to golf and community amenities while maintaining the privacy and peaceful setting that make it such a standout. Whether gathering with loved ones or hosting memorable celebrations, this residence delivers a true “wow” factor at every turn.

Listed by Vickie Bailey Team – Wallace Bearden Office | Click here for more information.

Luxury Spotlight December 10, 2025

Wallace Luxury Spotlight | 7320 Wheatfield Place Knoxville, TN 37919

A Classic Westmoreland Hills Brick Traditional With Timeless Character

Listed by Joyce Z. Tapscott – Wallace Real Estate Bearden Office | Click here for more information.

Nestled on Wheatfield Place, a quiet cul-de-sac known for its mature, seasonal landscaping and natural privacy, this stately two-story brick home offers a beautiful blend of architectural detail, comfort, and enduring style. With classic brick construction, stucco trim, and elegant Southern columns, the home makes an impressive first impression that carries through every room.

When you enter the wide foyer, you’re welcomed by rich walnut railing accents and a sightline into the formal living room—a refined space featuring a wet bar, a fireplace with a brick hearth and surround, and a decorative mantel set against an accent wall. French doors extend the room into a two-level deck, perfectly positioned for outdoor gatherings or relaxing in the treetops.

At the heart of the home, the kitchen and breakfast room create a warm, central hub. Walnut cabinetry, a tile backsplash, and granite-look countertops offer a classic aesthetic, while the layout provides easy access to both the family room and the outdoor grilling area. A beautifully framed archway connects the kitchen to the expanded sunroom/family room, where abundant natural light and a comfortable atmosphere set the tone for daily living. Just off this space, a private staircase leads to a dedicated office/library—an ideal setting for work, study, or quiet reflection.

Designed for memorable occasions, the large dining room showcases custom trim and painted wainscoting. Nearby, the powder room features a white tile floor, vanity, antique mirror, and timeless finishes. Additional conveniences on the main level include a pantry and secondary staircase that leads to the upper-level bonus room and bedroom areas.

Upstairs, the layout is thoughtfully arranged with two private guest bedrooms and a full bath featuring neutral tile and a tub/shower combination. The second-level Primary Bedroom offers a serene retreat with an adjoining bathroom that includes a whirlpool tub, double vanities, a separate walk-in glass shower, and a water closet. A spacious, tucked-away dressing area and closet complete this peaceful haven.

The wide concrete driveway offers generous parking, including a walkway to a side parking area. The two-car garage provides additional room for storage.

With its architectural elegance and desirable Westmoreland Hills location, this home offers beauty, comfort, and convenience in one of Knoxville’s most established areas, with nearby access to the Rocky Hill community, UT campus, healthcare, and airport routes.

Listed by Joyce Z. Tapscott – Wallace Real Estate Bearden Office | Click here for more information.

Luxury Spotlight November 23, 2025

Wallace Luxury Spotlight | 216 Majestic View Drive Rockwood, TN 37854

A significant $100,000 price reduction makes this custom luxury home an exceptional opportunity within the prestigious gated community of Grande Vista Bay on Watts Bar Lake. Positioned on three combined lots totaling 1.68 acres, the setting was intentionally designed to preserve uninterrupted lake and mountain views while maintaining the simplicity of a single HOA fee.

From nearly every window, the landscape becomes part of the home’s experience. Thoughtful craftsmanship and attention to detail are evident throughout, beginning in the vaulted great room that sets the tone for relaxed lake living. This inviting space opens seamlessly into the gourmet kitchen and dining area, creating an effortless flow ideal for both everyday living and entertaining.

The kitchen is a standout, featuring an oversized breakfast bar with a gas cooktop, wall convection oven, additional oven and microwave, pull-out pot drawers, a dedicated spice cabinet, and a built-in coffee station. Natural light fills the dining area, which connects directly to the covered porch and patio. A corner stone fireplace anchors the outdoor living space and offers the option to easily add screening for extended seasonal use.

The primary bedroom enjoys serene lake views and is paired with a spa-inspired ensuite showcasing granite countertops, custom cabinetry, plumbing in place for a garden tub, a walk-in tiled shower with multiple shower heads, two walk-in closets, and additional linen storage. Secondary access from the ensuite to the patio enhances both convenience and connection to the outdoors. Also on the main level is an additional bedroom that can easily function as an office, along with a full hallway bath. A spacious laundry room with granite counters, cabinetry, sink, hanging area, and exterior access adds everyday practicality. The two-car garage completes this level.

The lower level expands the home’s living and entertaining options with a family room centered around a floor-to-ceiling stone fireplace and a wet bar, creating an ideal space for gatherings, movie nights, or game days. Two bedrooms are located on this level, one with a private bath and another with access to the backyard and a nearby full bath. A multi-use room, equipment room, and generous storage areas provide flexibility and organization.

Outdoor spaces are equally impressive. The covered lower patio features rock flooring and is plumbed for a hot tub, while the landscaped yard includes a stone pathway leading to a fire pit area, all oriented to take full advantage of the surrounding mountain and lake views.

Listed by Joanne Mielenz – Wallace Real Estate Lakeside Office | Click here for more information.

Luxury Spotlight November 22, 2025

Wallace Luxury Spotlight | 210 Majestic View Drive Rockwood, TN 37854

Perched high above its surroundings, this exceptional home delivers a sense of elevation that is matched only by its sweeping lake and mountain views. A wraparound covered porch anchors the exterior, creating multiple vantage points to take in the scenery from sunrise through evening, making the outdoors an extension of the living space throughout the year.

When you enter the home, the layout immediately reflects an easy-living design that balances comfort and flexibility. Two primary bedrooms offer remarkable versatility, with one located on the main level and another on the upper level. Each features its own ensuite bath, providing private retreats that work beautifully for a variety of living arrangements.

The kitchen is thoughtfully designed with a five-burner gas range, generous breakfast bar, and an adjoining dining area that opens directly to the covered patio, ideal for relaxed meals or entertaining with the view as your backdrop. Just beyond, the great room offers a welcoming space to unwind, whether hosting guests or enjoying a quiet evening.

The upper level expands the living options even further, featuring a family room with access to an additional patio overlooking the landscape. Two additional bedrooms, multiple baths, and a large bonus room provide abundant space for work, hobbies, or leisure, all while maintaining a cohesive flow throughout the home.

Downstairs, the unfinished lower level presents a blank canvas ready to be tailored to your vision. With space to accommodate a theater, game room, pub-style gathering area, bedroom, and full bath, the opportunity to customize this level adds tremendous value and future potential.

With its elevated setting, multiple outdoor living areas, and a layout designed to adapt to changing needs, this home offers a rare opportunity to enjoy lake and mountain living from a truly inspired perspective.

Listed by Joanne Mielenz – Wallace Real Estate Lakeside Office | Click here for more information.

Luxury Spotlight November 17, 2025

Wallace Luxury Spotlight | 1041 Vista Drive Gatlinburg, TN 37738

Perched above sweeping Smoky Mountain vistas, this exceptional three-level Gatlinburg retreat offers both elevated living and impressive performance. Thoughtfully designed for comfort and scale, the property features three beautifully appointed primary suites—each with its own fireplace—along with 4.5 baths and a versatile bunk room that expands hosting potential. From its high-end finishes to its proven rental history, every aspect of this home reflects intention, care, and long-term value.

The main level sets the tone with an open-concept layout that encourages connection, whether gathering around the see-through stone fireplace, preparing meals in the well-equipped kitchen, or taking in the panoramic mountain scenery through expansive windows. Two large decks extend the living space even further, offering unforgettable sunrise and sunset views. The upper deck includes a spacious hot tub positioned to capture the mountain skyline, creating a serene place to unwind.

Entertainment continues on the lower level, where a private indoor heated pool invites year-round enjoyment and a dedicated theatre room elevates movie nights into a true cinematic experience. Throughout the home, thoughtful design and durable materials ensure the space remains beautiful and functional for both personal use and guests.

Each primary suite is crafted as a relaxing retreat with its own fireplace and generous proportions; two include electric fireplaces that enhance the ambiance. The bunk room and additional baths support larger groups with ease, making the property ideal for those seeking a balance of luxury and capacity.

Outside, the generous parking area accommodates multiple vehicles, and a peaceful fishing pond sits just down the hill—an added bonus to an already standout setting. Located only five minutes from Glades Road and fifteen minutes to downtown Gatlinburg and the National Park, this retreat offers a sense of escape while keeping popular destinations within easy reach.

For investors, the performance numbers speak for themselves. This home has been meticulously maintained and consistently produces strong income. Bookings for 2025 already exceed $200,000 with approximately 80 percent occupancy, and all existing 2026 reservations will convey. The seller is open to continuing professional management, offering a seamless transition for those seeking stability and ongoing performance. The property is offered fully furnished with appliances and décor, allowing for an effortless, turnkey takeover.

Blending luxury, functionality, and a proven track record, this Smoky Mountain property stands out as an extraordinary opportunity—one positioned to deliver both memorable experiences and exceptional returns.

Listed by Honour Wright – Wallace Real Estate Bearden Office | Click here for more information.

Luxury Spotlight November 17, 2025

Wallace Luxury Spotlight | 285 E Shore Drive Rockwood, TN 37854

Completed in 2024 and designed to embrace wide lake views from the moment you enter, this stunning two-story home brings together thoughtful craftsmanship, open-concept living, and a peaceful connection to the water. With 22-foot ceilings in the entry and great room, hardwood flooring throughout the main level, and expansive glass that frames the surrounding landscape, every detail works together to create a sense of ease and openness.

The great room serves as the heart of the home, where a floor-to-ceiling brick gas fireplace and custom paneled ceiling add warmth and elegance. Four-panel sliding doors open to a large composite deck overlooking the water, making sunrise views and breezy afternoons part of everyday life. The connection to the kitchen is seamless, offering a space that is both beautifully designed and highly functional. Light-colored extra-tall cabinetry keeps outlets tucked beneath the cabinets for a clean look, while a stunning tiled backsplash creates a showpiece moment. The spacious quartz island provides seating and storage, and the kitchen’s high-end features include a 6-burner gas cooktop, stainless steel appliances, a built-in refrigerator, an Advantium convection oven, and a generous pantry. Just beyond, the dining room is wrapped in lake views through thoughtfully cased windows.

The main-level primary suite offers a restful retreat with its own horizon of water views. A custom tin ceiling and shiplap feature wall add character, while the ensuite bath provides a spa-like feel with dual vanities, an oversized soaking tub positioned to capture the view, and a zero-entry tiled shower with built-in seating and a frameless glass door. A spacious linen closet and private water closet complete the bath, while the oversized closet features built-in organizers and a window bench with storage.

Nearby, the laundry and mudroom combine charm and practicality with New York Subway tile floors, a built-in bench with cubbies, a utility sink, counter space, and plenty of storage. This area also accesses the extra-deep two-car garage, designed with abundant natural light.

Upstairs, three additional bedrooms offer comfort and flexibility. One oversized bedroom includes its own ensuite with a beautifully tiled shower. The other two bedrooms—one featuring a balcony overlooking the lake—share a well-designed Jack and Jill bath with dual sinks and a generously sized tiled shower.

Throughout the home, thoughtful touches elevate everyday living. Outlets positioned along the baseboards create uninterrupted wall lines, and smart-lighting switches allow you to manage the home remotely. Even the foyer coat closet holds a unique surprise with a hidden wall that provides discreet storage.

With 149 feet of shoreline and dockable access, this move-in-ready property offers the rare opportunity to enjoy lakefront living in a home designed with both beauty and functionality in mind.

Listed by Joanne Mielenz and Angela Worsham – Wallace Real Estate Lakeside Office | Click here for more information.

Luxury Spotlight November 16, 2025

Wallace Luxury Spotlight | 137 E Shore Drive Rockwood, TN 37854

Designed for effortless lakefront living, this Southern Living–inspired ranch home offers a thoughtful blend of craftsmanship, comfort, and everyday functionality within the gated community of Grande Vista Bay. Set along the shores of Fort Loudoun Lake, the home captures sweeping water views while maintaining a relaxed, single-level layout ideal for both full-time living and extended stays.

At the heart of the home, an open-concept great room brings together the living area, dining space, and kitchen, all oriented to take full advantage of the lake setting. Ten-foot ceilings and Brazilian teak hardwood flooring add warmth and visual continuity throughout, while expansive windows frame ever-changing water views from nearly every main living space. The flow supports both everyday comfort and larger gatherings, with spaces that feel open yet inviting.

The gourmet kitchen is designed with both form and function in mind, featuring a five-burner gas range with electric oven, generous storage, and thoughtful details that support everything from casual meals to more elevated hosting. Nearby, the screened patio and covered front porch provide additional places to relax…whether enjoying a quiet morning as the sun rises over the lake or spending the evening overlooking the water.

The primary suite offers a private connection to the outdoors, with direct access to the screened patio and serene lake views visible from the bedroom. The accompanying ensuite bath includes a freestanding tub and a zero-entry shower, creating a spa-like experience grounded in comfort and accessibility. Two additional bedrooms share a well-appointed hall bath, complemented by a conveniently placed half bath for guests.

Beyond the living spaces, the home continues to impress with practical and flexible features. A spacious laundry room includes a dedicated desk area suitable for organization, creative projects, or day-to-day planning. The heated and cooled workshop expands the home’s versatility, offering options for an office, studio, or hobby space. An oversized two-car garage includes a storm shelter, adding an additional layer of preparedness.

Outdoor amenities complete the lake lifestyle. A floating dock with two bays and three kayak lifts makes it easy to enjoy time on the water, while ample parking, including community dock parking with gated access, supports larger gatherings with ease. A fenced rose garden offers beauty and flexibility, doubling as an enclosed outdoor area if desired.

Located on a TVA-controlled lake, flood insurance is not required, further enhancing the long-term appeal of this thoughtfully designed lakefront home. With its single-level living, refined finishes, and direct connection to the water, this property offers a seamless blend of style, comfort, and true lake life living.

Listed by Joanne Mielenz & Angela Worsham – Wallace Real Estate Lakeside Office | Click here for more information.

Luxury Spotlight November 14, 2025

Wallace Luxury Spotlight | 241 W Shore Drive Rockwood, TN 37854

Surrounded by hardwood trees and bordered by a serene horse farm, this beautifully maintained two-story home offers a rare blend of privacy, comfort, and thoughtful design. Set on 2.25 acres, the property delivers peaceful natural views from nearly every window—creating a setting that feels both welcoming and wonderfully tranquil.

Upon entering, the main level unfolds with warm hardwood flooring, 9-foot ceilings, and an easy flow ideal for everyday living. A flexible front office/bedroom adds convenience, while a graceful staircase leads to the spacious upper level. Upstairs, two generously sized bedrooms, a full bath, and an expansive bonus room create a versatile retreat for guests or hobbies, offering plenty of room to unwind.

The home’s main living areas were designed with hosting in mind. A formal dining area connects seamlessly to the inviting great room, where a gas fireplace, transom windows, and sconce lighting add warmth and character. From here, access to the screened porch encourages you to enjoy the outdoors in comfort—perfect for morning coffee, evening reading, or taking in the surrounding wildlife.

The kitchen is a standout with its high-end appliances, 8-foot island with deep sink, 5-burner gas cooktop, wall oven, and convection microwave. A substantial pantry keeps everything organized, while the breakfast area overlooks the partially fenced backyard and green pasture beyond.

The main-level primary suite provides a peaceful retreat with soothing meadow views. The adjoining bath features a soaking tub, a beautifully tiled shower with built-in seating and shelving, double sinks, and well-placed sconce lighting. A large closet includes a convenient surprise: a washer and dryer tucked neatly at the end for added ease.

A half bath and a two-car garage with room for a workshop complete the main level, while outside, an additional shed offers space for tools or gardening supplies.

Whether hosting overnight visitors, enjoying quiet evenings on the porch, or exploring the possibilities of the bonus room and storage area upstairs, this home combines comfort and flexibility in a setting that feels truly special.

Listed by Joanne Mielenz and Angela Worsham – Wallace Real Estate Lakeside Office | Click here for more information.