Half-way through the year and the Tri-Cities real estate market continues to outpace prior year data. Johnson City, Kingsport, and Bristol, TN/VA all saw significant increases in average home sale prices and total number of homes sold for the month of July. Even with available homes on the market dipping to a seven month low, transactions continued to increase, causing the supply of homes to reach a historic low: 2.5 months of inventory. Typically, a normal market has at least five to six months of inventory. Kingsport had the strongest numbers, both for the month of July and compared to 2019 data. The total number of single family homes sold in Kingsport almost broke 900 for the year and saw an increase of almost 50 properties for the month and the year. Read our comprehensive report below with data from the Northeast Tennessee Association of Realtors.
Tri-Cities Real Estate Market Update | July 2020
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.