As we move into the last few months of the year, the Tri-Cities real estate market is winding down. Available inventory for the Appalachian Highlands and Tri-Cities region remains significantly below average. With only 1.5 months of available inventory, the supply of homes cannot meet the demand from new homebuyers. However, the number of residential closings did decrease 4.3% for the month of November – potentially signaling that the typical holiday decline is in full swing. The only major city in the Tri-Cities that saw a decrease in the average selling price was Bristol, TN. On the flip side, Bristol, VA saw a staggering $146,357 increase from November of last year. Given the small population, this could reflect that homes sold during November 2021 were simply larger, more expensive homes – not directly related to the market increase in homes across the board. Whatever the reason, the real estate market for Johnson City, Kingsport, Bristol, and the surrounding areas will be one for the record books in 2021.
Tri-Cities Real Estate Market Update | November 2021
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.