Trends

Trends

September 17, 2019
August was another record month for the Tri-Cities area housing market. For the first time, the average single-family resales price was above $200,000.  All primary city markets – except Johnson City – and all but two counties in the region also recorded strong year-over-year price increases. Closings on residential sales were flat on the heels to back-to-back monthly highs in June and July. “We are moving into the fall market with strong price...
August 26, 2019
Pending homes sales squeaked out a small gain from June’s total, but movement of the pending sales index is a different story. It’s at a 28-month high. There were 895 preliminary new contracts (pending sales) in July, up 9 from June. The active pending sales total rose to 1,450 – 200 more than there were in June, according to Realtor Property Resource (RPR). The Northeast Tennessee Association of Realtors' (NETAR), Pending Sales Index, shows new...
August 19, 2019
Tri-Cities area home sales increased 9.5 percent in July, and the average sale price was close behind at 8.6%. The increase was driven by a strong condominium-townhome rebound and better-than-average single-family sector performance. There were 737 residential closings last month, and the average sales price was $183,752, according to the Northeast Tennessee Association of Realtors (NETAR) Trends Report. The seven-month trend for residential...
July 22, 2019
New approved contracts for existing home sales declined in June, but it was not enough to keep them out of record territory. There were 880 new contracts (pending sales) in June, down 81 from May. The active pending sales total rose to 1,380 – 150 more than May, according to Realtor Property Resource (RPR). New pending sales moved above the 800 a month mark in March and have not retreated, so far. They peaked in May at 961. The Northeast...
July 16, 2019
Lagging closings on townhome and condominium sales nudged the regional housing market’s June residential resales into negative territory.  Total closings were down by 0.7 percent (five closings) compared to June last year.  At the same time, the average single-family resale price was a record high $188,957 - up 8.5 percent from June last year. There were 730 closings last month (683 single-family, up 1.9 percent, and 47 townhomes, down 27.2...
June 24, 2019
New approved contracts for existing home sales saw an expected seasonal bump in May, and the number of active OK’d contracts moving toward closing increased proportionally. There were 958 new contracts (pending sales) in May and 1,350 in the active file, according to Realtor Property Resource (RPR). The Northeast Tennessee Association of Realtors' (NETAR), Pending Sales Index, shows new contracts were 8 percent higher than May last year. The...

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