Archive for September 2022
Tri-Cities luxury home sales down 31% since May; eight-month trend up 45%
GRAY, Tenn. – Rising mortgage rates, stock market volatility, and inflation concerns have pushed Tri-Cities luxury existing housing sales down by 31% since May. But while $500,000 plus sales are…
Read MoreHow useful are all those so-called data-driven housing reports?
Two of the most recent national stories that gave the Northeast Tennessee housing market another 15 minutes of fame were: Realtor.com’s market hotness rankings. The Kingsport-Bristol and Johnson City metro areas were…
Read MoreTri-Cities pending home sales down for 4th month
GRAY, Tenn. – One of the primary forward-looking monthly housing reports is down for the fourth straight month. Sellers accepted 868 new contracts, down 20 from July and 102 fewer…
Read MoreTri-Cities area condo sellers get extra $11,000 per sale
GRAY, Tenn. – Tri-Cities sellers are getting an average of $11,000 more per townhome/condo sale in NETAR’s primary service area while the number of sales is down 26% from August last…
Read MoreSavvy homeowners getting ready because winter is coming
The Old Farmer’s Almanac is calling it the “season of shivers.” Janice Stillman, the Almanac’s editor, says, “this coming winter could be one of the longest and coldest that we’ve…
Read MoreYear-to-date commercial real estate transactions up 54%
GRAY, Tenn. – Tri-Cities commercial real estate (CRE) transactions continued a steady growth pattern in August. So far this year, 393 transactions have been finalized for a 54.7 percent improvement…
Read MoreCash deals, seller discounts, and over-list-price sales
GRAY, Tenn. – Cash deals accounted for 34% of August’s existing home sales because the number of total sales declined. Cash sales have ranged from 262 to 265 for the…
Read MoreHousing turn-over cycle; a slow road to balanced
By RICK CHANTRY The local housing market is finally showing more signs that it’s stabilizing. Some of the signs are faint, and it would be wishful thinking to expect a…
Read MoreTri-Cities’ hot housing market shows some cracks
GRAY, Tenn. – The Tri-Cities area’s red-hot housing market is beginning to show cracks. August sales were down from last year, and the sales price increased. But the trend is…
Read MoreRental market steps up its Tri-Cities area game
GRAY, Tenn. – A new analysis from Attom Data Solutions shows the average vacancy rate for single-family rentals in the Tri-Cities area – including Greeneville – is 2.6%. The news…
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