Here’s where $1 million-plus sales happened so far this year.

Northeast Tennessee’s luxury home market is proving resilient with more sales, steady prices, and a growing appetite for high-end living. July and the year-to-date numbers show an expansion despite more deliberate and choosy buyers.

In July 10 $1-million plus priced homes sold. This time last year, there were seven sales. The average price was $1.33 million, about $94,000 higher than last year. The median price climbed to $1.23 million, up from $1.15 million last year.

But closings didn’t come quickly. Homes spent an average of 109 days on the market, nearly double the pace of last July. Buyers also pressed harder in negotiations, shaving about $89,000 off asking prices on average.

July top sale

July’s top sale

A Telford working farm was last month’s top sale. The $2 million sale included a 3-bedroom, 2-bath brick house on 140 acres of productive farmland. The property included barns and silos, fenced pastures and a creek.

The farm is located 15 minutes from Jonesborough.

A Stronger Market Than 2024

From January through July, the region posted 50 million-dollar sales, up from 43 last year. Both average and median prices are slightly higher this year, landing at $1.35 million and $1.22 million respectively.

What’s changed most is negotiation. Last year, discounts routinely topped $100,000. This year, the average dropped to about $62,000. That suggests sellers are pricing more realistically and buyers are stepping up with stronger offers.

What Kinds of Properties Are Selling?

The local million-dollar market isn’t uniform. Each county has its own personality in the luxury tier:

• Washington County: By far the leader, with 33 sales year-to-date. Washington accounts for nearly two-thirds of the region’s luxury closings. Prices cluster around the $1.2M mark. Lake homes, high-end subdivisions, and estate properties form the backbone of activity. Time on market is a median of 61 days.

• Sullivan County: With 10 sales so far in 2025, is second in volume. Waterfront properties around Boone Lake and estate-style homes near Kingsport and Bristol are driving activity. The county’s median price of $1.29M shows buyers are willing to pay for prime settings.

• Greene County: Small in volume with just 3 sales, but big in price, Greene’s luxury homes average $1.73M. That’s the highest in the region. These are often sprawling estates on acreage.

• Carter County: Also with 3 sales, Carter is notable for quicker sales. The median time on market is just 1 day, with at least one home drawing multiple offers above list. Mountain-view properties are the sweet spot.

• Hawkins County: Rare in this tier, with just 1 sale so far. That home closed at $1.05M but required a deep discount of $200K below asking and a long 155-day wait. For sellers, the message is clear: Washington dominates in volume, Greene sets the price bar high, and Carter shows that the right property can sell overnight. Sullivan continues to deliver with lake homes, while Hawkins remains an outlier.

For buyers, July’s data showed that patience and negotiation payoff, but the year-to-date numbers prove luxury homes are moving faster and with smaller discounts than in 2024.

This report is based on human analysis of local housing data from the Northeast Tennessee Association of Realtors® (NETAR) July housing report with AI assistance.

Categories: TRENDS