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Most of the increase was in the mid- to top-end price ranges. The largest increase (44.9%) was in the $500K and above the price range, according to data from the Northeast Tennessee Association of Realtors.

The increase — especially at the top end of the market — is equally the expected seasonal increase and a response to persistent buyer demand. As of May, new listings are pacing ahead of 2024 across nearly all brackets above $200,000, and continued strength in the $300K+ categories may ease pressure on a market that has faced tight supply for the past two years.

Volume Overview

The region recorded 897 new residential listings priced at $100,000 and above. That’s a 12% increase from last year driven largely by higher-tier properties.

• $100K–$139K: Entry-level supply improved, with new listings up 40% in the $100K–$119K bracket and 26.1% in the $120K–$139K range.

• $140K–$199K: Momentum stalled in this range, with declines of 20%–26% compared to last May.

• $200K–$299K: New listings increased modestly. The $200K–$249K range rose 9.1%, and the $250K–$299K tier climbed 11.3%, signaling healthy growth in traditional move-up home categories.

• $300K and Up: This is where the market truly sped up:

• $300K–$399K: +17.3% (251 listings)

• $400K–$499K: +30.8% (136 listings)

• $500K and above: +44.9% (226 listings) — the highest growth of any price segment

January through May 2025

So far this year, 4,213 new listings have come to market. Performance has been mixed, with strong increases in upper segments offsetting softness in mid-tier inventory.

• $100K–$139K: Slight YTD gains of 2%–4.9% reflect incremental movement in entry-level resale homes.

• $140K–$199K: Inventory is lagging, with year-to-date declines ranging from -10% to -16% — a clear pressure point for first-time and price-sensitive buyers.

• $200K–$399K: Activity is rebounding:

• $200K–$249K: +14.3%

• $250K–$299K: +13.3%

• $300K–$399K: +29.4%

• $400K–$499K: Listings rose 30.8% YTD, supporting sustained interest in move up and executive-level housing.

• $500K+: The luxury market leads all price ranges with a 40.6% year-to-date increase, marking the return of high-end seller activity.

With summer underway, continued listing activity in higher tiers and potential catch-up from mid-priced sellers as conditions normalize is expected. The rest of 2025 could see a more balanced flow of inventory if this momentum holds.

Along with the increase in pending sales and new listings, May’s median price ($285,450) increased. It was 5.7% better than last year. The typical seasonal increase is 5%. The five-month price trend ($275,000) is up 7.6%.

Don Fenley is semiretired from a 45-year career as a journalist. His news blog — Core Data — focuses on local housing data and localized reports about the core elements of the Northeast Tennessee economy.