August sales reflected most of the evolving changes including smaller homes, higher HOA fees, and a geography that’s no longer dominated by Johnson City. Cash buyers remain a powerful force shaping the market.
For sellers, the message is clear: buyers are still active, but value matters. Size, fees, and location are under scrutiny. For buyers, opportunities are expanding across more communities, but competition remains strongest at the cash-driven end of the spectrum.
August Sales
There were 29 sales in both August 2024 and August 2025. That underscores stability at the top end of the market. Yet beneath that headline, the year-to-date shift that points to new buyer priorities and evolving community patterns can be seen.
Smaller Homes
The size of high-end homes sold this August declined notably. The average finished square footage fell from 3,855 sq. ft. in 2024 to 3,317 sq. ft. in 2025. This 14% decrease suggests that while the same number of luxury homes are changing hands, the properties themselves are trending smaller.
HOA Trends
The role of homeowners associations is changing as well. In 2024, 13 of the 29 sales were tied to an HOA, with an average monthly fee of $168. A year later, HOA-related closings dipped slightly to 11, but the average fee spiked to $281. Buyers appear more cautious about recurring costs, weighing HOA expenses against the benefits of standalone estates or non-HOA neighborhoods.
Cash Buyers Edge Up
Cash remains a defining factor in luxury sales. In August 2024, 11 transactions closed in cash; in 2025, that number edged higher to 12, meaning more than 40% of these high-end deals bypassed traditional financing. It’s a strong indicator of wealth-driven demand that helps keep the market active even as conditions evolve.
Market Geography and Pricing
The distribution of sales tells its own story — one of shifting influence and broader regional reach.
- August 2024:
- Johnson City set the pace with 7 sales averaging $824K, followed by Bristol (4 sales, $884K), Piney Flats (3 sales, $858K), and Gray (3 sales, $868K). Kingsport stood out with fewer transactions (2 sales) but the highest average price at $1.48M. Greeneville and Elizabethton each posted 2 sales near $880K, while Blountville ($1.10M), Rogersville ($760K), Mountain City ($730K), and others contributed single closings.
- August 2025:
- Johnson City again led with 6 sales averaging $786K, but Greeneville and Jonesborough rose to prominence with 4 sales each. Greeneville’s homes commanded a higher average of $917K, while Jonesborough averaged $779K. Newer players joined the luxury map: Abingdon ($1.04M average), Butler ($1.05M), and Telford ($955K) each posted 2 sales. Bristol and Kingsport cooled to 2 sales apiece, with averages of $789K and $866K, respectively. One-off sales also came from Rogersville ($795K), Chuckey ($1.05M), Mooresburg ($745K), and Gray ($782K).