Tri-Cities Real Estate Market Update | October 2021

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The Tri-Cities’ real estate market has finally slowed for the first time all year. New home sales dropped month-over-month in Johnson City, and Bristol, TN and Virginia. The total number of residential home closings dropped 3.6% from last year. While the available inventory and time on market stayed roughly the same, this signals that homebuyers and sellers alike are waiting to make any moves until the holidays are over. However, those homes that are selling are still selling at a premium above market values. Check out the graph below for more information.

If you are still on the fence about selling your home and have questions about the process or how Red Door Agency is different from the competition, let us know! We pride ourselves on providing a unique and tailored approach to each and every one of our clients. Whether it’s your first time selling or your hundredth, we’ll come up with the perfect plan to sell your home.

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