By DON FENLEY

Tri-Cities pending sales were up nearly 15% in November. It’s a signal that the market is functioning more normally.

Pending sales are a leading indicator of housing activity based on signed contracts for existing single-family homes and condominium sales in the region monitored by the Northeast Tennessee Association of Realtors® (NETAR). Because resales typically go under contract 30 to 60 days before closing, pending sales provide insight into the direction future closings will take. In other words, today’s pending numbers point to tomorrow’s sales trends.

Affordable Price Range Still The Anchor

The affordable price range ($160,000 – $299,999) continues to anchor the market, accounting for 272 pending sales in November. That’s a modest 5% year-over-year increase.

Within that band, the strongest lift came from the $200,000–$249,999 segment. It jumped from 96 to 112 pending contracts, underscoring sustained demand where price and financing remain within reach for a broad buyer pool. The upper-affordable slice ($250,000–$299,999) also edged higher since buyers are stretching slightly when inventory and value align.

Move-Up Market – A Breakout Story

The clearest signal in November came from the move-up segment, where pending sales surged from 152 in 2024 to 211 in 2025. That’s  a 39% increase.

Contracts in the $300,000–$399,999 range led the way, jumping from 102 to 147, while the $400,000–$499,999 tier also posted solid gains. This pattern points to improving confidence among equity-rich homeowners and dual-income households who had previously been sidelined by rate volatility.

In practical terms, this is where the market is doing its heavy lifting heading into 2026. When the move-up segment accelerates, it tends to unlock transactions both above and below it.

Luxury Zone Quietly Resilient

The luxury market continued to show steady resilience. Pending sales in the $500,000-plus category rose from 70 to 80, a 14% increase year over year.

While volumes remain smaller than mid-market tiers, the consistency here matters. Luxury activity tends to reflect discretionary confidence, relocation dynamics, and cash-heavy buyers. November’s numbers suggest that segment remains intact, even as pricing and negotiations grow more nuanced.

Categories: REAL ESTATE