Pending home sales were up 5.4% from last year on the strength of falling mortgage rates. At the same time, the pending sales index is up 8% from the Tri-Cities pre-pandemic benchmark, signaling a stabilized and active regional housing market.

Sellers accepted 705 contracts last month compared with 669 a year earlier. They were down from the August total of 798.

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.

The affordable and move-up price tiers provided most of last month’s lift. The luxury market is active but flat. Together, these signals point to a market that’s cooling gradually, not stalling, as it transitions into the final quarter of 2025.

Affordable Core: $180,000–$299,999

The market’s center of gravity remains firmly in the $180,000–$299,999 price range.

Pending sales in this affordable core totaled 274, up from 260 last year, and made up nearly 39% of all 2025 pending sales.

• $180K–$199K: 50 (unchanged from 2024)
• $200K–$249K: 118 (up 12%)
• $250K–$299K: 106 (up 1%)

Move-Up Market: $300,000–$499,999

Move-up activity also gained ground, rising from 193 pending sales in 2024 to 208 in 2025.

• $300K–$399K: 140 (up 1%)
• $400K–$499K: 68 (up 24%)

This price tier continues to reflect the market’s most dynamic segment. Much of the growth came in the upper half of the range.

Luxury Market: $500,000+

The high-end market held steady at 82 pending sales, matching last year’s total. While luxury demand has cooled in many parts of the country, local activity remains consistent.