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Region's home sales closing in on another $1B year

Johnson City Press • Dec 15, 2017 at 9:01 PM

With one month still to be counted, Northeast Tennessee’s housing market nears another record year and the second consecutive one with residential sales more than $1 billion.

According to the Northeast Tennessee Association of Realtors’ monthly trends report, 496 single-family homes sold in November, up 7.6 percent from the same month last year.

The report, which examines sales in 11 counties in Northeast Tennessee and Southwest Virginia, showed 5,777 home closings for the year through November, 165 more than the same point last year. Last year posted a record for the region when homes sales topped $1 billion for the first time in a single year.

November’s average price for a single-family home fell to $169,452, down $3,689 from 2016, but Association of Realtors President Eric Kistner said prices are trending upward, despite a slump in October and November.

Another positive trend is new listings. The available homes on the market has been tight for many months, and Kistner said more are being listed, but it might take awhile for the squeeze to relax.

November home sales 
County Sales Avg. Price
Washington 134; down 1 $228,693; up $16,960
Sullivan 137; up 17 $162,556; down $14,337
Carter 50; up 14 $120,070; down $5,275
Unicoi 17; up 5 $141,722; up $42,194
Johnson 18; up 12 $128,244; up $42,911

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