Knoxville Metro Market Stats June 2026
Market in a Minute
We’re at the middle of the year and here's where things stand for the market.
East Tennessee home sales increased 8.7% in June from 2025. We're also up in total inventory so sales would otherwise be relatively flat given the increase in listings.
- The median sale price was $415,000 — up 0.39% from the previous year. Year to date from the same time last year it's actually down 0.25%
- New listing housing inventory is up 5.5% from June 2025.
- Half of the homes sold were under contract in 23 days or less, up from 19 days a year ago.
- 43.1% of homes sold for the asking price or above, with 19.9% selling for more than the asking price. 8.33% sold for at least $10,000 over asking and 3.04% sold for at least $25,000 over asking price. Still meaning that 60%+ of homes sold, sold below original asking price. Price it right from the start and you'll see the market compete.
- The sale-to-list price ratio held steady at 95.6% compared to 95% a year ago.
- New construction was 13.1% of total home sales, up from 12.3% in 2025.
The good news continued for East Tennessee's housing market leading into summer, with another robust month of sales in June. Pending sales were up 17% over last year, indicating that the trend will continue in July. While eager buyers have finally emerged, demand and unbalanced residential inventory have kept the options tight this spring and pushed the median sale price up. With around 40% of homes selling at asking price or above and therefor 60% below asking price, it's certainly not a "buyer's market" yet. The sold to list price ratio staying pretty tight.
Demand is high relative to recent spring seasons, with sales from eager buyers outpacing new inventory. Historically, inventory would begin to come online in early spring and consistently peak around July. This year, however, inventory has already begun to slide backward, down 4% month over month in May as the number of new listings cannot keep up with sales. Prices and sizes of homes sold have inched up as well, with the elevated median sales price of $385,000 up 4% from 2025.
The median size of homes sold in East Tennessee was 1,853 square feet in May, the highest number since 2023. The median layout of these homes is a sizeable 3 beds, 2.5 baths, and half an acre lot.
Assuming that interest rates remain within their current range of 6.4-6.6%, we anticipate June and July to continue to show strong home sales. Pending sales in May were up 15% over 2025, giving a peek at June's expected performance. Our members tell us that strategy and deep understanding of surrounding community are the keys to success in this environment; buyers in each neighborhood assign different values to similar features.
Meanwhile, modestly sized single level ranch homes are flying through the process in just days with multiple offers regardless of zip code - if you have one of those, you're in great shape.