It’s a fact that the Tri-Cities area housing market is not as strong a sellers’ market that it used to be. Buyers have more choices and a little more bargaining muscle in this transitioning sellers’ market. 

With that said, I thought mid-year would be a good point for a capsule review of some of our primary markets according to data from Realtor® Property Resource (RPR). It produces some of the top real estate market data available. Remember, this is just a capsule view of markets when this article was written. RPR’s data is dynamic, so it’s constantly changing with updates from the Multiple Listing Service (MLS) and public records. Your Realtor® can provide a complete picture of specific markets.

 While some traditional industry metrics set the balanced market threshold at 5–6 months of inventory, RPR criteria are calibrated to reflect modern market dynamics. Under that standard, 5.5 months of inventory represents the upper limit of a seller’s market; 5.6-6.5 months of inventory is a balanced market; and 6.6 months is a buyer’s market. 

BRISTOL, VA 

The city has 4.46 months supply of homes on the market. Inventory has seen a 2% one-month drop but a more significant 19% increase over the past year, showing a shifting market dynamic. 

The median days on the market is 48.  

The sold-to-list price ratio shows homes are selling for about 91.9% of their asking price.  

BRISTOL, TN  

Currently, there are 2.37 months of inventory.  

There has been a slight inventory increase of 5% over the past month and 35% over the past year. That suggests a tightening market. 

Homes are selling for about 97.6% of their asking price. 

The median time in RPR is 21 days.

KINGSPORT  

Kingsport has 2.46 months of inventory. 

Inventory continues declining. It has decreased 5% over the past month and 20% over the year, suggesting tighter conditions. But with 18 days on market for sold listings, it’s a dynamic pace.  

Homes are selling for about 97.7% of their asking price.

JOHNSON CITY  

Johnson City has 1.89 months of inventory. 

 Johnson City’s market is characterized by low inventory and quick transactions. Timing is crucial for those buying and selling. 

Currently, homes are selling for about 99.3% of their asking price. 

The median days on market is 20. 

ELIZABETHTON  

With a current inventory of 2.81 months, navigating the Elizabethton market involves monitoring the landscape. A 1% inventory change over the past year shows longer-term stability.  

Homes in Elizabethton are selling for about 186% of their asking price. 

The median days on the market is 45. 

JONESBOROUGH 

Jonesborough has 3.12 months of inventory.  

Navigating this dynamic real estate landscape can be a strategic dance for those buying and selling. The tight inventory and high sold-to-list ratio suggest strategic timing is crucial to maximizing transaction outcomes. 

Homes in Jonesborough are currently selling for about 120.9% of their asking price 

The median days on the market is 28.  

PINEY FLATS 

Piney Flats has 2.64 months of inventory.  

Inventory is down 6% from last month and has shifted downward 42% over the past year, so conditions are tighter. With 14 new listings at a median price of $637,000 and 29 active listings priced around $539,000, timing is crucial.  

Homes are selling for 98.9% of their list price. 

The median days in RPR is 12. 

ROGERSVILLE 

Rogersville currently has 4.19 months of inventory.  

Navigating the dual role of buying and selling in Rogersville can be a strategic endeavor, especially with the current market trends. The market dynamics point to a competitive market. 

The sold-to-list price ratio is currently at 96.3%. 

Homes are spending a median of 39 days on the market,  

CHURCH HILL 

 Church Hill has 2.38 months of inventory. 

 With this inventory level, it’s crucial to time transactions carefully, as inventory has decreased by 38% over the past month and 41% over the last year.  

Homes are selling for about 95.1% of their asking price. 

The median days on market is 14 days.

BLUFF CITY  

Bluff City’s inventory stands at 3.64 months. 

Navigating the real estate market in Bluff City brings both excitement and challenges for those buying and selling. Inventory, the market has seen a 42% increase over 12 months. New listings show a median price of $345,302. This suggests an active market. 

Homes in Bluff City are selling for about 99.3% of their asking price.  

The median days on market is 77.

BLOUNTVILLE  

Blountville currently has 3.36 months of inventory. 

Navigating the Blountville market requires a keen eye on timing and trends. Inventory is up 68% over the past year. That offers more options for buyers and sellers. The median list price for new listings is $372,822, while active listings hover around $374,560, suggesting stable pricing. 

Homes in Blountville are selling for about 97.5% of their asking price. 

The median days on market for homes is currently 12.

GREENEVILLE 

Greeneville has  3.22 months. That indicates a balanced market.  

 As of this month, inventory has seen a 5% decrease from the previous month and a significant 31% drop over the year. With 76 new listings at a median list price of $350,000 and 187 active listings averaging $375,000, the dynamics between buying and selling have shifted, making coordination crucial.  

Homes are currently selling for about 97% of their asking price.  

The median days on the market is 19, which suggests a steady pace of sales.