The mobile home market broke the trend line of softer sales and higher prices in April.

Sales were up from last year while prices declined. Buyers had more options and a better negotiating position due to a combination of rising inventory, more flexible sellers who are concerned about the economy and a slight improvement in affordability.

According to the Northeast Tennessee Association of Realtors (NETAR) there were 47 manufactured home sales last month, up 20.5% from last year’s 39.

The median sales price was $210,000 down from $215,000 last year. Last month’s median mobile home price was $63,600 less than the median price of a stick built home on the broader market.

Prices in the overall market were up 5% while sales declined by an equal 5%.

So far this year, the manufactured home inventory has averaged 118 listings a month. In April it was 127. There was also more price reduction than last year. Sellers dropped their original listing price on 18 of the properties that sold last month. There was 11 price reductions April last year.

Sellers were also more willing to negotiate to get to the final price. Buyers gained an average of $11,404 on 27 of last month’s sales. This time last year the average was $8,258 on 23 sales.

Although there were more sales at a lower price last month, the number of cash sales was down. Buyers paid cash for eight of last month’s sales. This time last year, there were 15 cash sales.

Although local consumers don’t seem to be pessimistic as they are nationwide, concerns about the economy and the potential for a recession are showing up in seller confidence and buyer spending. 

Mobile homes in the local market account for more than double the U.S. average share of 6% of the housing stock.

According to census data, mobile homes account for 13% of the homes in the Carter, Washington, Unicoi, Hawkins, Sullivan, Scott Co. Va. And Washington Co. Va. combined area. They account for 25% of the housing stock in Greene Co. Statewide, the average is 8% of the housing stock.