September underscored a transition for the region’s townhome and condo segment. The overall pace of sales cooled, pending contracts thinned, and inventory expanded in nearly every county. Sullivan and Washington, TN remained the primary anchors of activity, but both are now operating in a more deliberate market where buyers have room to negotiate, and sellers must price with precision.

Sales dropped to 19 from 34 a year ago. At the same time, new listings increased 31% and inventory climbed 44%. Pending contracts also softened, sliding from 40 last year to 21 last month.

In short, the tone of the market has cooled from last year’s brisk pace into something closer to a balanced fall rhythm.

Sullivan Co.: Still the Volume Leader

Sullivan Co. again topped the region for closed sales, matching last September’s total of nine. The county also saw a jump in new listings – 2 this year vs 6 last year – while pending sales held steady at 9.

Prices, however, told a different story. The median sale price slipped to $190,000, down from $229,900 a year earlier. Inventory more than doubled from 16 to 38, pushing the months’ supply from 1.5 to 4.1.

Washington Co., TN: Sharp Slowdown from 2024 Surge

Washington County, TN, shared the top spot with Sullivan at 9 closings, but that number was a steep drop from 21 sales last year. There were 23 new listings this year versus 24 last year. Pending sales fell from 25 to 10.

The median sale price edged up from $229,900 to $240,500, showing that the units selling were slightly higher-end. Inventory climbed from 40 to 59 and the months’ supply up from 2.3 to 3.7.

Washington Co., VA: Activity Returns, Inventory Tightens

 Washington County, VA, posted 1 sale in September at a median price of $239,000. New listings were unchanged at 2, but pending contracts dropped from 3 to zero. What stands out most is inventory tightening from 13 to 3 units, cutting the months’ supply from 5.3 to 1.4.

Carter Co.: Listings Up, Closings Vanish

Carter Co. had no September closings, compared with 2 a year ago. New listings rose to 3, and pending sales slipped to 1. The median sale price is unavailable this year due to the lack of closings; last year’s median was $231,250. Inventory increased from 7 to 9 units, and months’ supply grew from 2.9 to 3.9.

Greene Co.: Quiet Month, Rising Supply

Greene Co. mirrored Carter’s pattern with no September closings. There were 2 last year. The county logged 2 new listings, 1 pending sale, and a modest rise in inventory from 3 to 5 units. The month’s supply moved from 2.7 to 4.4, a sign of slower turnover. Last year’s median price of $359,950 underscores the absence of higher-end transactions this fall.