2019 has been a great year for the housing marketing in the United States- but what about the Tri-Cities? Between Johnson City, Kingsport, and Bristol, the Tri-Cities housing market has an interesting mix of neighborhoods, trends, buyers, and sellers. Here's a quick summary of what's happening in the Tri-Cities housing market this summer.
One of the big takeaways from June's housing market report from NETAR (Northeast Tennessee Association of Realtors) was that someone making the average income in our area can still afford a home in our area. That's not the case in 75% of the country.
In other words, the middle class can afford a home in our area. In other markets, the middle class cannot afford most of the homes on the market. That means they have to compete for the low-priced homes. But not in the Tri-Cities.
Another big finding from the report is that 7 out of 10 sales in our area are happening below $200,000. That means that affordable houses are being bought quickly. We have a surplus of buyers under $200,000, and a surplus of sellers over $200,00.
Our market is great for the middle class. We live in an area with a competitive cost of living, great property values, and an active housing market.
All of this means that it's important to work with an experienced realtor to navigate our market well. Our team has sold hundreds of homes in this area and we would love to help you buy or sell your next home!
Source: "Deep dive on June’s housing data shows eye-popping results." Northeast Tennessee Association of Realtors.