Posts by Don Fenley
Local commercial real estate picks up momentum
Commercial real estate transactions were up 65 percent from last year in April. Transactions have more than doubled during the past two months, with a notable April increase in the retail-commercial sector, according to the Northeast Tennessee Association…
Read MoreMarket Pulse – May 10
April’s home sales were up 33.7% from April last year, but is that a realistic market indicator? It’s an accurate number but not totally representative of today’s market conditions. April last year was the first full month of economic reaction to the pandemic.…
Read MoreLocal home prices soar in April; inventory hits all-time low
Home prices continued double-digit growth in April as inventory dropped to an all-time low. At month’s end, the region monitored by the Northeast Tennessee Association of Realtors (NETAR) Home Sales Report had a 1.3-month supply of homes for sale. “It was a given…
Read MoreMarket Pulse – May 3
Vacant land inventory is showing signs of last year’s sales surge. During the first three months of this year, active inventory was down almost 19%, while sales were up 74%. There were 541 sales…
Read MoreMarket Pulse – April 26
The overall NE Tenn. housing market is hot, hot, hot. But so far this year luxury homes are the hottest of the hot. They have outpaced the growth rate for affordable and mid-price range homes by far thanks to the…
Read MoreMarket Pulse – April 19
Three key housing market data points were in sync at the end of March. There were 991 homes in active inventory. At the same time, there were 983 pending sales…
Read MoreCommercial Real Estate spikes
WETS’ Business Matters cited NETAR’s March and Q1 Northeast Tennessee Commercial Real Estate Report. Momentum has been building since the fourth quarter of last year. It released in March. Office…
Read MoreMarch NE Tenn. pending home sales set new record
Homeowners accepted 983 offers in March, setting the stage for a strong opening to the prime spring home buying and selling season. March’s accepted offers – pending sales – is…
Read MoreMarket Pulse – April 12
Tri-Cities area home prices made another double-digit increase in March. The average residential resale price of $229,499 was 23.2% higher than last year. That’s good news for sellers and not-so-good…
Read MoreMarch sees strong growth for Tri-Cities commercial real estate
Tri-Cities commercial real estate saw its best month in over a year in March. Transactions were up 71.9 percent in the wake of a dramatic increase in office sector activity.…
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