Tri-Cities Real Estate Market Update | December 2021

home, homeowners, homeownership, real estate

The last month of 2021 saw some pretty incredible results for the Tri-Cities’ real estate market. For starters, the availability of homes, also known as the supply, dropped to a historic low. With only 1.3 months of inventory available, our real estate market is going month-to-month as the number of homebuyers continues to exceed the number of homesellers. Aside from the number of homes on the market, prices continued to exceed expectations. Bristol, TN took the top spot in December with the average home price increasing $42,253. Moreover, the average selling price compared to 2020 shot up an astounding $92,202 in Bristol, TN. Homes continue to stay on the market for roughly two months. This is the amount of time it is taking for a listing to go from active to close. When you consider all the steps that go into selling a home: from getting documents signed, photography and videography completed, to negotiations, closing, and more, this is truly a testament to all parties involved in the real estate transaction. Curious about your neighborhood? Check out the results below…

 infographic, real estate, market report, tri cities

 

About the Author

Vance moved back to the Tri-Cities from Nashville, TN in 2020 where he worked in sales development for a Silicon Valley technology start-up. Before this, Vance worked in retail management for over ten years.

While Vance has lived all over the country, he attended East Tennessee State University for his undergraduate degree in Integrated Marketing Communications. He graduated Magna Cum Laude and with special honors from the College of Business and Technology. Vance went on to pursue his Masters in Digital Marketing from ETSU while working for Target as a store manager in the Knoxville/Chattanooga/Nashville markets.

In his spare time, Vance enjoys traveling (12 countries and counting!), and loves spending time outdoors with his dog, Miles, hiking, biking, kayaking, and camping. He is also an avid motorcyclist and loves spending the weekends riding through the Blue Ridge and Great Smoky mountains.

With his background in sales and customer success, Vance is determined to redefine the customer journey of home buying and selling to ensure that Red Door and its agents are the region's destination for real estate.

Awards & Designations

Google Certified Professional: Analytics & AdWords