By DON FENLEY
There is a slice of the Tri-Cities housing market that no longer has the right name. Calling the homes between $500,000 and $1 million “luxury” doesn’t fit.
Although the regional median sale price runs well under half of $500,000, a home that costs twice the typical price is not a mansion here. It is where families go when they have outgrown their first house and want more room, more land, or a better address. That is the move-up market. The homes at its top form a tier of their own, and they deserve a name that tells readers what they are.
Beginning with the July market report, sales between $500,000 and $1 million are the move-up market upper tier. The name matters because the market is growing.
A mid-year benchmark
| Metric | 2025 mid-year | 2026 mid-year | Change | Pct. change |
| Total sales | 395 | 443 | 48 | 12.2% |
| Total sold volume | $254,465,593 | $292,890,362 | $38,424,769 | 15.1% |
| Median sold price | $610,000 | $634,000 | $24,000 | 3.9% |
| Average sold price | $644,217 | $661,152 | $16,935 | 2.6% |
| Median original list price | $649,900 | $669,000 | $19,100 | 2.9% |
| Median final list price | $620,000 | $649,900 | $29,900 | 4.8% |
| Sales of $900,000 or more | 21 | 29 | 8 | 38.1% |
| Median days on market | 67 | 69 | 2 | 3.0% |
The upper tier is not just busier at mid-year. It is reaching higher. Sales of $900,000 or more grew the fastest of any measure.
What these homes look like
The homes in this tier share a profile. The typical one offers about 3,000 finished square feet. Buyers paid a mid-year median of $217 a square foot, up slightly from a year ago. Most of these homes sit outside a homeowners association. About three in 10 carry one.
A market that split on speed
More homes sold fast in the first half of this year, and more sat for months. The middle thinned out. The median home took 69 days to sell. But the share that sold in under 30 days grew, and so did the share that lingered past six months. Sellers who priced right moved quickly. Those who reached too high waited.
Buyers gained a little leverage. Fewer homes sold above the asking price at mid-year. More sold at or below it. The gap between the last list price and the final sale price widened. When a home sold below its asking price, the typical discount was $20,000.
Where they are selling
Johnson City leads by a wide margin, with 107 mid-year sales. Jonesborough and Kingsport follow. The fastest growth came from Greeneville, which jumped from 19 sales to 34. Abingdon and Bristol also gained ground. Jonesborough was the only major market to slip.
Why the name will stick
The move-up market upper tier is a metric worth following. It shows where the region’s stronger households are putting their money, and it moves earlier than the broader market when conditions shift.
Discover more from CoreData @ donfenley.com
Subscribe to get the latest posts sent to your email.
Categories: REAL ESTATE
I like the “BOOMER BABIES” lol