A $2.1 million Johnson City sale topped April’s top of the market list.

The five bedrooms, five bath Park Place Community home has all the style, and extras that hallmark the region’s growing luxury home club.

 So far this year, $12 million plus sales have closed in the Tri-Cities region.

April’s sale was the first for Johnson City, which accounts for one of this year’s sales so far. Jonesborough has seen the most million-dollar business with four sales. Mountain City and Greeneville have two sales while Piney Flats, Bristol, and Roan Mountain have one sale each.

The new home construction side of this part of the market is also progressing, as is the $400K and above component. Last year there were 343 local permits for high-end homes. That’s an increase of 22 from the previous year – up 22%.

That pales when compared to the explosive growth of this market segment since the pre-pandemic days. Last year’s permits are up 383% from the 2019 annual total.

Although a precise accounting of new construction in the million plus market was not available when this was written, construction loans in that price range have been in record territory, according to lenders. Of course, that doesn’t account for the cash market. So far this year half this year’s existing home sales have been cash deals.

  While the high mortgage rates are chilling most of the market, the luxury market Is surging. According to a Redfin study, the typical U.S. luxury sale is for $1.7 million.

There are currently 85 listing for single-family million dollar plus homes in the Tri-Cities region. The largest number is in Washington Co. TN followed by Sullivan Co.