42 homes sold in Gray in the last year, at a typical $352K
About one sale in 3 is a condo. Below: what each kind of home sells for, what your budget buys, the best months to buy, how hard you’ll have to bid, and a shortcut to every site where Gray homes are listed.
Every place Gray homes are listed, in one stop
We don’t copy listings: the agents’ sites have the photos and the latest price changes. Set what you want once and we open each site already filtered to Gray.
For sale
Rent
New, land & open houses
Links open the listing sites; TownRatings isn’t paid for them and doesn’t rank one above another. Rentals and government-owned homes come from sources outside the MLS.
A quarter of Gray’s sales are condos, at $193K less than a house
29 houses and 10 condos sold in the year to May 2026. Condos sell faster and draw more bidding wars.
typical sale · 29 sold in 12 months
- Per square foot
- $219TN $209
- Days to sell
- 172
- Sold over asking
- 14%
- Listings with a price cut
- 47%
typical sale · 10 sold in 12 months
- Per square foot
- $166TN $262
- Days to sell
- 100
- Sold over asking
- 20%
- Listings with a price cut
- 36%
Townhouses: 3 sold, typical $297K
Too few sales in 12 months for reliable figures.
More homes sell than most years, at 2.3 times the 2016 price
42 sales in the last year, against 53 in 2021 and a low of 29 in 2015. The typical sale went from $156K in 2016 to $352K.
Source: Redfin Data Center, MLS sales. Typical price and $/sq ft are the monthly medians, weighted by sales.
What $350K buys in Gray
Check a listing against what Gray homes sold for
Against the town’s median price per square foot over the last 12 months. A rough check: condition, lot and location within town move a price more than this can see.
Bidding wars in Gray are back to pre-pandemic levels, and more homes are for sale
We read every month of Gray’s home sales since 2014 so you don’t have to. Each figure covers 12 months, because a single month in a town is too few sales to mean much. Latest: the year to May 2026, 42 sales.
If you’re buying in Gray
- Shop in September. It brings about 4 new listings a month, close to the busiest month, with fewer bidding wars (13% over asking).
- You can negotiate. 44% of listings have cut their price, against 7% before the pandemic.
- Offer under asking. Buyers paid 97.2% of the list price on average; 14% paid over.
- You’ll usually have time. Only 22% of homes go under contract within two weeks; the typical one takes 141 days.
Spring brings both the most homes and the most bidding wars
April has the most new listings (about 5 a month), but March is the most competitive: 35% of March sales close over asking. September offers nearly as much choice with fewer homes bid up (13%). November has the least competition (0%) but only about 2 new listings.
Averages for each calendar month, 2015 on.
Calmer than the 2021 frenzy, and about like Tennessee as a whole
| Gray now | 2017–19 | 2021 peak | TN now | |
|---|---|---|---|---|
| Sold over askingShare of sales that closed above the list price | 14% | 18% | 34% | 14% |
| Gone within two weeksShare of homes under contract within 14 days | 22% | 2% | 7% | 27% |
| Listings with a price cutShare of homes for sale that cut their price | 44% | 7% | 10% | 25% |
| Price paid vs. askingAverage sale price ÷ list price | 97.2% | 97.8% | 100.7% | 97.3% |
| Days to sellMedian days from listing to contract | 141 | 94 | 75 | 70 |
13 homes for sale on a typical day
That’s 2.5 times the 2022 low (5), 38% more than in 2017–19 and well under 2025’s 18.
1 in 2 listings has cut its price
44% in the last year, against 7% in 2017–19 and 25% across Tennessee. More sellers are pricing high and coming down.
Since 2019, houses are up 92%, condos 84%
A house typically sold for $397K in the last year (29 sales), a condo for $204K (10).
Median sale price, weighted by sales each month. Years with fewer than 4 sales of a type are left out.
Source: Redfin Data Center, city market tracker, January 2014 to May 2026 (MLS sales, not seasonally adjusted). Ratios are weighted by homes sold; price cuts by homes for sale.
Owning the typical Gray home costs about $2,018 a month
Price: Gray’s typical sale, last 12 months. Property tax at Gray’s 0.6% (median bill ÷ median value, Census ACS); insurance at 0.35% of price a year. Before PMI, HOA dues, upkeep and the tax deduction. Whether Gray is affordable on local pay is on Cost of living.
Six things worth knowing
New listings in April
The month with the most choice. December has the fewest, about 2.
Best time to buyProperty tax, a year
Of a home’s value: the median bill over the median home value. On a $352K home, about $2,180 a year.
Taxes vs. neighborsSchools
The schools grade for Gray, from test results, graduation and how much students grow.
Schools in GrayCheck the flood map
Flood insurance isn’t in a standard policy, and lenders require it in FEMA flood zones. Check the address before you make an offer.
Natural hazardsLook up any property
Assessed value, lot size and every past sale of a home you’re eyeing are public, at the town or county assessor and the registry of deeds.
Spurgeon, Oak Grove, Colonial Heights, Johnson City, Kingsport and Sullivan Gardens sell for less a square foot
The busier markets within 25 miles of Gray, by what sold. Prices, taxes and how far a paycheck goes next door are on Cost of living.
| Sold | Typical sale | $/sq ft | Over asking | Days to sell | |
|---|---|---|---|---|---|
| Johnson City | 1,122 | $332K | $181 | 15% | 52 |
| Kingsport | 1,022 | $281K | $163 | 14% | 69 |
| Oak Grove | 69 | $379K | $191 | 25% | 53 |
| Spurgeon | 55 | $322K | $170 | 11% | 73 |
| Gray | 42 | $352K | $207 | 14% | 141 |
| Colonial Heights | 40 | $285K | $147 | 30% | 65 |
| Sullivan Gardens | 24 | $221K | $146 | 21% | 71 |
Redfin Data Center, June 2025 to May 2026. Towns with fewer than 20 sales are left out, and Redfin doesn’t report every town separately.
Post your home to Gray, free
Selling it yourself, renting out an apartment or looking for a roommate? Post it to Gray. People who follow the town see it, and so do people comparing Gray with their own town. No commission, no listing fee.
Questions about buying a home in Gray
What do homes sell for in Gray, TN?
42 homes sold in the year to May 2026 at a typical $352K, $207 a square foot. Houses sold for about $397K, condos for about $204K.
Is Gray a buyer’s or seller’s market?
A seller’s market: 5 homes were for sale in May 2026 and 2 sold, about 2.5 months of supply. Buyers paid 97.2% of asking on average, and 44% of listings cut their price.
When is the best time to buy in Gray?
April brings the most new listings. The sales history shows which months have fewer bidding wars.
How much are property taxes in Gray?
About 0.6% of a home’s value a year. On a $352K home that’s near $2,180.
Where can I see homes for sale in Gray?
Zillow, Redfin, Realtor.com and Homes.com all carry Gray’s MLS listings; the search links above open each one filtered to Gray.
Sales, prices, days on market and listings: Redfin Data Center (MLS, monthly, not seasonally adjusted). Property tax rate: Census American Community Survey. Two-bedroom rent: HUD Fair Market Rent. Typical home value: Zillow Home Value Index. Schools grade: TownRatings (how grades work).