MARKET PULSE – Bristol, VA nets region’s 27th $1 million plus sale
Don Fenley
Eleven $1 million plus home sales closed in May, bringing the region’s total to 27 this year.
A 10,412 sq. ft. home with a 22-ft. ceiling and marble floors in the entry was the top sale at $1,650,000. It’s on the Virginian golf course. Close behind was a $1,625,000 Kingsport sale. So far this year, the top sale was in April for $2,105,300 million in Johnson City.
Five of May’s $1 million sales were cash deals.
This year’s running total for these top sales show Jonesborough leading the region. Here’s how that rundown looks:
- Jonesborough, 6
- Johnson City, 5
- Greeneville, 3
- Kingsport, 2
- Mountain City, 2
- Blountville, 1
- Bristol, TN, 1
- Bristol, VA, 1
- Butler, 1
- Erwin, 1
- Elizabethton, 1
- Piney Flats, 1
- Roan Mountain, 1
- Unicoi, 1
Last month 106 luxury homes ($500K and up) were sold in the region. That’s an increase of 35.9% from last year and the second largest percentage increase in all price ranges for the month. The largest increase was in the top price range of the move-up market ($400K-$499,999K).
So far this year, luxury sales have totaled 325, up 17.7% from the previous year.
Pending sales (95) in that market were up 5.6% last month.
There were 171 new listings, up 76.3% and the active inventory of 346 was 26.3% higher than 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