April’s Tri-Cities new home market saw the result of builders targeting move-up and luxury buyers. Sales were down. So was the median sales price. But the average sq. ft. per sale was up, as was the average sales price.

According to the Northeast Tennessee Association of Realtors (NETAR) there were 44 new home sales, down from 69 April last year. The median sales price that marked the middle price point of the market was $345,900. Last year it was $349,530. The average sales price was $409,104, up from $382,618 last year.

Last month’s average sq. ft. per sale was 2,022, up from 1,967 last year.

Demand for more expensive and upgraded properties sold in Washington Co. pushed the county’s average price to $495,516, up from $443,369 last year. The price point for the middle of the market was $482,4660, up from $432,450.

Sullivan Co. had fewer sales in April and is only one sale behind Washington in the year-to-date total. The average price was $366,730, up from $360,393. The median price was $343,847, up from $356,155.

Greene Co. continued to be the region’s consistent mid-tier performer with a median sales price of $296,637, up from $299,550 last year, and an average price of $324,666, up from $291,283.

The year-to-date trends show a modest market contraction of a 7% sales decline from last year. The strongest demand and sales so far this year compared to the first four months of last year is:

Washington – 89, down from 94

Sullivan 88, down from 85

Greene – 29, down from 35

Carter – 9, up from 7

Unicoi – 8, same as last year

Hawkins – 2, down from 10

The county-level market shifts mirror the trends seen in the most current population projections from the Census Bureau. While the region’s two core markets – Sullivan and Washington – continue leading the region in total sales, the smaller submarkets a showing signs of increased growth and housing market performance.