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Kingsport - Johnson City - Bristol The Tri-Cities area
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Old 01-28-2012, 07:06 AM
 
Location: Kingsport, TN
1,697 posts, read 6,345,568 times
Reputation: 1766

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The annual average sales price for previously owned homes in the Tri-Cities' two largest housing markets ended 2011 at three-year highs. And, there are early signs that 2012 will be a better year for the local housing market.
Kingsport, Johnson City annual home prices at three-year high- Kingsport Times-News

Capsule look at some local housing markets in 2011 by average annual price, sales volume, percentage of foreclosures to total sales and the total value of real estate sold during the year:

* Johnson City
$210,826, up 5.3%
526 sales, up 11%
11% foreclosures
$111 million

* Kingsport
$159,622, up 5.8%
395 sales, down 2.2%
12.4% foreclosures
$63 million

* Bristol, TN
$116,578, down 12.7%
168 sales, down 19.6%
19% foreclosures
$20 million

* Elizabethton
$98,135, down 8.8%
102 sales, down 7.3%
14.7% foreclosures
$10 million

* Bristol, VA
$87,158, down 19.5%
127 sales, down 8%
20.5% foreclosures
$11 million

Data provided by NETAR
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Old 01-29-2012, 10:22 PM
 
Location: Johnson City, Tennessee
189 posts, read 530,157 times
Reputation: 98
The important thing is that the inventory is starting to drop. That's what allows for prices to stabalize the most in my opinion. While election years are generally down markets for housing, it's still truly a buyer's market out there.
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Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

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