So far this year, the Tri-Cities mobile home market continues to evolve with modest price gains and a steady sales pace. Total transactions are down by one sale from the first six months of where they were last year, and the median sales price ($210,000) Is up $8,700 (4.3%). 

Affordability has and continues to be a top concern and headwind, and the mobile home market offered a break to price conscience buyers. The difference between the mobile home median sales price and the overall home sales price for the first six months of this year is $68,048.

One way to better understand the mobile home market and buyer behavior is segmenting the sales price distribution into four price tiers.

The low tier is $145,000. So far this year, it has seen the most volatility and constrained supply.

The mid-low tier of $14,001 to $209,000 remains the most active price range and accounts for most sales.

The mid-high tier $209,001-$255,000 gained over last year’s sales.

The high tier also gained ground this year, indicting resilience in the upper end demand.

Greene county led all price tiers, especially the high tier with a 57% increase from last year. This signals a consumer shift toward demand for higher-end mobile homes in Greeneville and across the region.

Greene had 33 of the half-year high tier sales, followed by Washington county with 14 and Sullivan with 13 sales.

Green also led the region in low tier sales (16) followed by 12 in Sullivan and 11 in Washington.

Price reductions accounted for 36.6% of midyear sales. The average reduction was $16,336 which is consistent with what sellers did during the first half of 2024.

The key trends for the second half of this year are:

–         High price tier growth, especially in Greene and Washington counties.

–         Affordability pressures. The shrinking share of low tier sales highlights inventory challenges in the affordable housing stock.

–         Price stability. Despite reductions, most sellers are getting near-target prices. This suggests strong buyer confidence.

–         Overall, the Tri-Cities mobile home market is healthy and trending higher in value, especially in the mid-to-high-tier properties. Inventory is tight, but stable. Expect more movement in the upper tiers and continued pricing resilience for the rest of the year.

–         In mid July, there were 138 mobile home listings in the region.