Tri-Cities Real Estate Market Update | July 2021

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As summer slowly draws to a close, the Tri-Cities real estate market seems to remain unchanged. While there has been a slight increase in the number of available homes on the market, this number (1.6 months) is still far below the market average. Additional new contracts have signaled that demand is still high for housing. Home prices continued to soar with the average home selling for over $221,000 in July – the highest amount so far this year. When it comes to the total number of properties being sold, Johnson City saw a surprising increase which brought it closer to the number one metro: Kingsport. July year-over-year statistics saw Kingsport and Bristol, TN with a decrease in the total number of homes being sold, while year-to-date numbers continue to see positive growth.

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