October 2026 East Tennessee Real Estate Market Update: What You Need to Know

More homes to choose from. More time to make decisions. And prices that continue to hold up.

Wallace Real Estate’s October market statistics show a housing market with a different pace than the fast-moving conditions of a few years ago. Buyers have more options, and sellers face more competition. Yet homes are still selling, with closed sales through October running about 6% ahead of the same period in 2025.

Here’s what the latest numbers mean if you’re thinking about buying or selling.

Buyers have more homes to consider

The number of new listings in October was about the same as a year earlier, but new listings for the year remained ahead of 2025.

Nearly 10,900 homes were active at some point during October, about 7% more than a year ago. That figure reflects homes that passed through the market during the month, rather than the number available on a single day.

For buyers, more inventory creates room to compare properties and weigh priorities. Depending on the home and its competition, there may also be opportunities to negotiate price, repairs, or other terms.

For sellers, the takeaway is straightforward: Buyers have alternatives. Pricing, condition, photography, and marketing all play a role in helping a home stand out.

Homes are taking longer to sell

Homes that sold in October spent an average of just over 80 days on the market, longer than in September and considerably longer than a year earlier.

That is an important expectation to set before listing. A home taking several weeks or a couple of months to sell may reflect today’s pace. Sellers planning another purchase will want to account for that timeline, too.

Still, a longer market average is a reason to plan carefully and monitor results. If a listing receives few showings or little interest, it’s worth reviewing its price, condition, presentation, and competition with your agent.

The balance between buyers and sellers is shifting

October’s months-of-supply measure rose to nearly seven months, up from about six in September. This measure compares inventory with the pace of sales to estimate how long that supply would last if no additional homes entered the market.

The increase points to more supply relative to current sales activity. Sellers may need to allow more room for negotiation, while buyers may have options that were difficult to find when inventory was scarce.

Conditions can still vary by location, price range, and property type. An overall market figure is a starting point; comparable homes provide a closer look at what to expect.

More inventory hasn’t meant lower median prices

October’s median sales price was approximately $385,000, about 5% higher than in October 2025.

The median is the midpoint of sale prices: Half of homes sold for more, and half sold for less. It does not mean every home increased in value by 5%.

The broader message is that increased choice has not translated into a decline in the market’s median price. Buyers should keep their budget and comparable sales in focus. Sellers should base their asking price on current competition and recent sales rather than assume rising median prices guarantee a higher offer.

Sales remain active, with one trend to watch

October’s closed sales were nearly identical to last October, and year-to-date closings were about 6% higher than in 2025.

Pending sales, which reflect homes going under contract, told a softer story. October pendings fell from September and were noticeably below October of last year. Although some fall slowing is typical, the decline could mean fewer closings as the year winds down.

Year-to-date pending activity remained ahead of 2025, so October’s slowdown is a trend to watch rather than a complete picture of the year.

Planning your next move

For buyers, this market offers more choice and potentially more flexibility. For sellers, it calls for realistic timelines, careful pricing, and a plan that responds to buyer feedback.

We can help you look beyond the overall numbers to understand the homes, price points, and conditions most relevant to your next move.