Archive for January 2024
Last year’s local commercial transactions down 19.6%
Local commercial real estate transactions were down 19.6% in 2023. And while it wasn’t the best of years from a transaction standpoint, it was a pretty good year. It was…
Read MoreMarket Pulse – Outlooks shifting toward 2024 home price increases
There’s a slow, but broad shift in 2024 housing market outlooks and it falls in line with the Tri-Cities regional on-the-ground fundamentals. Realtor.com’s economic division headlined a report that “The…
Read MoreCompetitive market puts pressure on home pricing strategy
There are myriad considerations about putting a property on the market this year. But one stands out. It’s the role strategic pricing plays during the first days after a listing…
Read MoreRegion’s existing home for sale inventory continues slow walk
GRAY – Although it’s not the end-all to the region’s housing woes, the number of homes on the market is a critical factor. Since 2019, the region has slipped into…
Read MoreMARKET PULSE – Million dollar, luxury home sales post robust year
Three million dollar plus residential sales closed in December, bringing the Tri-Cities area annual top-of-the market residential sales total to 59. Last year’s top sale was in Kingsport for $4.4…
Read More2024 housing market keywords – inventory, inventory, inventory
If you want to get an edge on what this year’s housing market will look like as we head into the prime season – and beyond – the metric that…
Read MorePending home sales increase – workforce-affordable, move-up, luxury markets up
GRAY – Pending sales increased during December, pointing to a stronger evolving housing market. Accepted contracts in all three sub-markets were higher also than last year. The Northeast Tennessee Association…
Read MoreMarket Pulse – How Much Impact Did Cash Sales Have?
One of the first things that pops out when reviewing how existing home sales were financed last year is the share of cash sales wasn’t as great as the attention…
Read MoreMost local markets had a good year, some had a very good year
Last year was proof that even the best housing market outlooks from the most-trusted analysts are more guidance than gospel. It also reaffirmed that real estate is hyper local even…
Read MoreLocal home prices post 4th double-digit annual increase
GRAY – Tri-Cities area home price stayed in the double-digit growth range last year while sales retreated to a pre-pandemic level. There were 548 closing in the counties monitored by…
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