Trends

Trends

July 31, 2017
New pending home sales saw their first month-over-month decrease this year. "That's consistent with the flattening of the sales trend that we saw in the June Trends Report," said Northeast Tennessee Association of Realtors President Eric Kistner. NETAR's Pending Home Sales Report shows 797 new approved contracts at the end of July, down three from the previous month. A Realtor Property Resource count of the total new contracts lists 1,142...
July 29, 2017
Average home sale prices for June and the first half of 2017 hit nine-year highs while the lack of inventory had sales struggling to match last year's levels. Northeast Tennessee Association of Realtors (NETAR) President Eric Kistner said demand remains high, but sales are bucking an availability headwind. "In June, we had 4.5 months of inventory," he said. Six months inventory is considered normal market conditions, "but 10 to 11 months have...
July 29, 2017
New contracts on homes sales hit a 13-month high in May. According to the Northeast Tennessee Association of Realtors' (NETAR) Trends Report 826 new pending sales had been logged by the end of the month. That is 81 more than April and 102 more than May last year. Combined with contracts that haven't moved to closing, the new contracts pushed the active, pending sales total to 1,190, which is also a 13-month high. Pending sales are the number of...
July 29, 2017
Home sellers had reason to smile in May. The average sales price increased for the ninth straight month. Sales were also brisk, and the five-month market trend looks solid as the market moves toward the mid-year point. "Prices were 4.3% higher during the first five months of this year than last year. That is an average increase of $6,634," said Northeast Tennessee Association of Realtors (NETAR) President Eric Kistner. Last year's annual price...
May 30, 2017
New pending home sales made their smallest year-over-year gain in nine months in April pushing the total number of accepted deals 18% higher than last year. There were 748 new accepted offers on single-family, condominium and townhome properties in the 11-county region monitored by the Northeast Tennessee Association of Realtors'® (NETAR) Trends Report last month. That is a year-over-year increase of nine sales and ten more than March NETAR...
May 17, 2017
Area home sales were flat in April while a tight inventory began pushing prices higher. And the Kingsport and Bristol, TN markets are price increase standouts so far, this year. There were 516 closing, 10 fewer than March and six fewer than April last year, according to the Northeast Tennessee Association of Realtors' (NETAR) Trends Report. The average sales price was $169,536, up $9,676 from last year. Even though closings were down in April,...

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