Tri-Cities Real Estate Market Update | November 2020

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Temperatures may be dropping, but the Tri-Cities real estate market is still hot. The month of November saw the supply of homes drop to a historic low of 2.1 months of available homes on the market. For most of 2020, there has been a home shortage which has caused home prices to increase dramatically and homes to go under contract and remain on the market for very short periods of time. Bristol, TN saw a $60,000 increase in the average homes prices in November compared to November in 2019. Kingsport, TN had the most home growth last month, with almost 1,500 homes sold YTD and an increase of over 100 MTD.

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