MARKET PULSE – $2.2 million sale tops Aug. market

Don Fenley 

August’s top home sale was a $2.2 million Sullivan Co. lake house.

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The home features the amenities you would expect. There are four guest bedrooms and baths, and a separate, but connected, in-law’s suite with a full kitchen, sitting area, bath, and laundry room. Elevators service each level of the multi-level home.

Outside, there’s a pool with three waterfalls, a hot tub and a deeper end for swimming laps. The pool area is surrounded by black walnut decking with a full bath and pool house area. There’s also a two-story dock with boat lift and two ski jet ports and a half bath and dock with an outdoor shower and hookup for an outdoor kitchen.

The original listing was for $2,850,000.

It was the only cash sales of the month in its price range.

So far this year 48 Tri-Cities area home have sold for $1 million plus. The average sales price of those 48 sales was $1.3 million. Most of the sales (23) have been in Washington Co. The top sale of the year so far is a $4.2 million Carter Co. cash sale.

On the last day of September, there were 103 active $1 million plus listing in the area monitored by the Northeast Tennessee Association of Realtors (NETAR).

There have been 614 sales of homes in the $500,000 and up luxury market so far this year. That 16% more than those sold this time last year.

There were 101 pending sales of luxury homes in August, up 16.6% from this time last year.

NETAR is the voice for real estate in Northeast Tennessee. It is the largest trade association in the Northeast Tennessee, Southwest Virginia region, representing over 1,800+ members and 100+ business partners involved in all aspects of the residential and commercial real estate industries. Weekly market reports and information for both consumers and members are available on the NETAR website at https://netar.us