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Northeast Tennessee home sales the best in 10 years, says NETAR

Staff Reports • Updated Jun 13, 2018 at 3:23 PM

Single-family home sales in Northeast Tennessee are the best they’ve been in 10 years, according to a Northeast Tennessee Association of Realtors report released Wednesday.

In May, the region saw 78 more closings than last year, while 691 homes sales were closed. The average price was $177,883, up $10,415 from last year for a 6.2 percent increase. 

Closings on town homes and condominiums were up 6.8 percent. The average sale price was $128,722, up $8,182 from last year.

"Consumer confidence and pent-up demand keep driving the local market to new highs when other markets are beginning to show fatigue in the face tight inventories and higher prices," NETAR president Aaron Taylor said in a news release.

Here's a capsule look at local market trends based on the year-to-date city and county single-family resales and average prices compared to the first five months of last year:

CITY MARKETS:

Kingsport: Sales 326, up 58. Avg. price - $177,942, up $13,117.

Johnson City: Sales 320, up 20. Avg. price - $222,165, down $7,844.

Bristol, TN: Sales 131, up 18. Avg. price - $154,371, up $17,666.

Greeneville: Sales 82, up 9. Avg. price $134,314, up $1,038.

Bristol, VA: Sales 81, up 9. Avg. price - $117,368, up $7,130.

Elizabethton: Sales 63, up 3. Avg. price - $121,866, up $711.

Erwin/Unicoi: Sales 61, down 7. Avg. price - $154,157, down $14,385.

COUNTY MARKETS:

Sullivan: Sales 773, up 86. Avg. price - $171,601, up $14,598.

Washington, TN: Sales 666, up 39. Avg. price $217,289, up $11,316.

Greene: Sales 272, up 29. Avg. price $150,803, up $7,450.

Hawkins: Sales 228, up 16. Avg. price $150,804, up $13,624.

Carter: Sales 204, up 3. Avg. price $133,938 up $674.

Washington, VA: Sales 174, up 11. Avg. price $179,998, up $13,876.

Wise: 85, up 27. Avg. price $111,068, up $12,326.

Johnson: Sales 56, up 20. Avg. price $200,602, up $89,262.

Scott: Sales 48, no change. Avg. price $111,068, down $12,326.

Lee: Sales 19, up 5. Avg. price $101,291, up $25,938.

NOTE: Johnson County's year-to-date high average sales price change is the residual effect of an outlier sale. NETAR counts city sales as those in high school zones. City sales and price data are included in the county totals.

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