Tri-Cities’ luxury home market followed the national trend and softened in November. Sales in the $700,000 to $1 million segment were down sharply from the same month last year. But the properties that sold commanded higher prices. At the same time, the $1 million + market paced last year with two sales. 

The luxury market segment recorded four closed sales last month, down from seven a year earlier.

The median sale price climbed to $835,000, up from $775,000 last year. The price per sq. ft. jumped from a $219 median last year to $258. That’s not simply inflation. It’s also composition. The typical luxury transaction in 2025 involved smaller homes, with median finished square footage sliding from about 4,072 sq ft last year to 3,237 sq ft this year.

Buyers didn’t simply accept pricing at face value. Negotiations were meaningful. The median sale-to-list ratio eased from about 98.4% last November to 96.9% this year. That effectively doubled the typical discount from roughly 1.6% below list to about 3.1% below list.

Market time also carried a two-part story. The typical deal moved faster – median days on market fell from 64 last year to 48.5 – but one listing that sat for 144 days pulled the average higher. That split is consistent with what’s happening across many price tiers: well-positioned homes can still move quickly, while mis-priced or mismatched listings take longer to find the right buyer.

This luxury segment remains anchored in the $700K price range. There were two sales in the $700K range, one in the $800s, one in the $900s.

$1 Million + Market

Last month’s top sale was a five-bedroom, seven-bath, 8,350 sq. ft. $2.6 million cash deal. The elegantly appointed custom home is nestled along the shores of Boone Lake in Grande Harbor.

The heart of the home is the kitchen and keeping room. It features Calcutta gold marble countertops and a custom La Cornue range.

 The home’s open floor plan creates an effortless flow between living spaces, highlighted by a limestone fireplace in the living area and a dual-fuel fireplace in the keeping room that accommodates both gas and wood burning.

There’s a recently constructed dock that has matching Cali bamboo boards that extends the living space directly onto the water. Both garages are wired for EV plugs.

The home was on the market for 50 days.