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        <title>Real Estate Blog</title>
        <link>https://www.theaddingtonagency.com/blog/</link>
        <description></description>
<item>
    <guid>https://www.theaddingtonagency.com/blog/fall-comes-alive-across-the-tri-cities-with-festivals-music-and-mountain-traditions.html</guid>
    <link>https://www.theaddingtonagency.com/blog/fall-comes-alive-across-the-tri-cities-with-festivals-music-and-mountain-traditions.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Fall Comes Alive Across the Tri-Cities with Festivals, Music and Mountain Traditions</title>
    <description> <![CDATA[ 
Fall is one of the best times to experience the Tri-Cities. Cooler temperatures return, the mountains begin changing color and communities across Northeast Tennessee and Southwest Virginia fill their calendars with music, food, art and longstanding local traditions.


Whether you recently moved to the region or have called it home for years, the coming months offer plenty of reasons to explore Johnson City, Kingsport, Bristol, Jonesborough, Elizabethton and the surrounding communities.


Upper East Tennessee Celtic Festival and Games


The season begins with the Upper East Tennessee Celtic Festival and Games from September 4–6 in Johnson City. The three-day celebration highlights Celtic music, athletics and cultural traditions, offering something different from the region’s more familiar Appalachian festivals.


Events begin Friday evening and continue throughout Saturday and Sunday. Visitors can expect a lively atmosphere filled with music, competition and opportunities to learn more about the Celtic heritage that helped shape Appalachian culture.


Bristol Rhythm &amp; Roots Reunion


One of the region’s largest fall events returns September 11–13. The Bristol Rhythm &amp; Roots Reunion will celebrate its 25th anniversary with three days of live music throughout historic downtown Bristol.


The festival honors the legacy of the 1927 Bristol Sessions and the city’s place in American music history. Performances span Appalachian roots, country, bluegrass, Americana, rock and other genres, turning State Street and the surrounding downtown blocks into a collection of indoor and outdoor stages.


Because the festival takes place in both Tennessee and Virginia, it also offers visitors the unusual experience of attending one event in two states.


Umoja Festival


Johnson City’s Umoja Festival returns September 12 at King Commons. The annual event celebrates cultural unity through music, food, dance, art and educational activities.


“Umoja” means unity, and the festival brings together residents from across the region for a day centered on cultural appreciation and community. It is a particularly good choice for families looking for an event that combines entertainment with opportunities to learn.


Gray Fall Festival


The Gray Fall Festival is scheduled for September 19 at the Appalachian Fairgrounds. Running from 10 a.m. until 4 p.m., the event offers a relaxed community celebration with seasonal shopping, local vendors and family-friendly activities.


Its central Tri-Cities location makes it an easy outing for residents of Johnson City, Kingsport and the surrounding communities.


Covered Bridge Days


Downtown Elizabethton will welcome visitors September 25–27 for Covered Bridge Days. The free festival includes live music, food, arts and crafts vendors, children’s activities, inflatables and fireworks near the city’s historic covered bridge.


The festival has become one of Elizabethton’s signature traditions. Its downtown setting also gives visitors an opportunity to explore local shops, restaurants and the Doe River while attending the festivities.


A Weekend of Fall Traditions in Kingsport


Kingsport will celebrate Appalachian heritage during the Fall Folk Arts Festival at Exchange Place on September 26–27. The historic farmstead provides a fitting backdrop for traditional crafts, demonstrations, music and activities inspired by 19th-century farm life.


This event offers more than seasonal entertainment. It gives visitors a closer look at the skills and customs that once shaped everyday life in East Tennessee.


Johnson City will also hold an Oktoberfest celebration on September 26, adding food, drinks and live entertainment to an already busy regional weekend.


National Storytelling Festival


The National Storytelling Festival returns to downtown Jonesborough October 2–4. Now in its 53rd year, the event welcomes storytellers and visitors from across the country to Tennessee’s oldest town.


Performances range from Appalachian folktales and personal stories to humor, history and ghost stories. Large tents throughout downtown create spaces where audiences can listen to some of the country’s most accomplished storytellers.


The festival has grown considerably since its beginning in 1973, when listeners gathered around an old farm wagon in Courthouse Square. Today, it remains one of the Tri-Cities’ most distinctive cultural events.


Blue Ridge Artisan Days Fall Festival


Local creativity takes center stage during the Blue Ridge Artisan Days Fall Festival on October 23 and 24 at the Appalachian Fairgrounds in Gray.


The two-day event will feature handmade goods, regional artists and local talent. Friday’s activities are scheduled from 3–7 p.m., followed by a second day of shopping and festivities from 9 a.m.–3 p.m. Saturday.


For anyone hoping to begin holiday shopping early, the festival provides an opportunity to find original gifts while supporting artists and small businesses from around the region.


More Than a Festival Season


Fall in the Tri-Cities is not limited to scheduled events. The changing leaves bring visitors to places such as Buffalo Mountain, Bays Mountain Park, Roan Mountain, Warriors’ Path State Park and the Tweetsie Trail. College football, farmers markets, corn mazes and downtown events add even more possibilities throughout September and October.


These activities also provide an important boost for local businesses. Festivals introduce visitors to the region’s restaurants, shops, hotels and neighborhoods, while giving residents another reason to spend time in their own communities.


The Tri-Cities’ fall calendar reflects much of what makes the region special: mountain scenery, musical history, Appalachian traditions and a strong sense of community. Event details and schedules may change, so visitors should confirm current information with each organizer before making plans.
 ]]> </description>
    <pubDate>Mon, 31 Aug 2026 17:44:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-housing-holds-strong-as-affordability-reshapes-the-market.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-housing-holds-strong-as-affordability-reshapes-the-market.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Housing Holds Strong as Affordability Reshapes the Market</title>
    <description> <![CDATA[ 
The Tri-Cities housing market finished the first half of 2026 on solid ground, but its year-long growth streak has reached a plateau. Demand remains strong and prices continue to rise, yet affordability is limiting further expansion and moving more activity into the region’s upper price ranges.


Through June, buyers closed on 4,115 homes—an 8.3 increase from the same period last year. New listings rose 2.9, while the median sales price climbed approximately 3.5.


Those figures reflect a healthy market. However, TCI’s Annualized Sales Tracker, which measures closings over a rolling 12-month period, declined 0.1 at mid-year. The small decrease ended 12 consecutive months of growth. It does not indicate a downturn, but it does suggest that the market is leveling off.


Affordability is creating the ceiling. Mortgage rates have remained near 6.5, causing monthly payments to outpace what many local households can comfortably afford. Prices are still rising, but the pool of qualified buyers is no longer growing at the same pace.


Increasing inventory has provided little relief. Active inventory rose 6.3, but the region still had only about 3.5 months of supply. A balanced market generally carries five to six months, so the Tri-Cities continues to favor sellers. Buyers absorbed nearly every home added to the market.


Existing homeowners are in a stronger position. Approximately 56.3 of local owners are equity rich, meaning they owe no more than half of their home’s value. That equity gives many owners the ability to sell, negotiate and purchase a more expensive property.


Seller behavior shows where the market’s tension is concentrated. Prices were reduced on nearly half of June’s listings, while closing concessions remained steady near 60 of sales. The pattern suggests that sellers are starting too high, then correcting when buyers do not respond. Once a property is priced appropriately, it generally sells close to its final asking price.


The affordability squeeze also changed what buyers purchased. New-home sales were nearly unchanged at 404 closings, compared with 401 last year, but the median new-home price jumped almost 15. The increase came primarily from larger floor plans rather than a higher price per square foot.


Sales between $500,000 and $1 million rose about 12, from 395 to 443. Sales above $1 million increased from 42 to 48. Meanwhile, pending sales in the entry-level range fell 17.5, while contracts between $300,000 and $499,999 increased 22.2.


Population trends help explain the divide. Regional growth is being driven by retirees and adults in their mid-50s moving into the area, while many younger residents and recent college graduates are leaving. Newcomers often arrive with home equity and greater purchasing power, strengthening the upper market without expanding the workforce.


The second half of 2026 will likely bring firm prices, tight supply, strong upper-tier demand and continued pressure on entry-level buyers.
 ]]> </description>
    <pubDate>Mon, 24 Aug 2026 16:26:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-new-home-sales-fall-as-prices-continue-rising.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-new-home-sales-fall-as-prices-continue-rising.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities New Home Sales Fall as Prices Continue Rising</title>
    <description> <![CDATA[ 
The Tri-Cities new home market delivered a mixed signal in July. Buyers purchased fewer newly built homes than they did a year earlier, but those who entered the market paid more for larger properties.


According to the Northeast Tennessee Association of Realtors® (NETAR), 56 new homes closed during July. That was down 17.6 from 68 sales in July 2025. Meanwhile, the median sale price increased 3.8 to $365,588, and the average rose 3.9 to $403,651.


Falling sales and rising prices may appear contradictory, but they measure different aspects of the market. The sales count reflects activity, while prices depend on the types of homes being purchased. When buyers select larger homes or properties in more expensive locations, prices can rise even as fewer transactions occur.


Both the median and average price increased in July, indicating that the market moved higher overall—not only at the top. The median represents the midpoint, meaning half of the homes sold for more than $365,588 and half sold for less. The higher average of $403,651 reflects the influence of more expensive sales.


Market activity also shifted geographically. Blountville led the region with 13 new home sales, followed by Johnson City with 11, Jonesborough with eight and Kingsport with seven.


That represents a significant change from last year, when Johnson City led with 22 sales—twice its July 2026 total and more than any community recorded this year. Sullivan County, including Blountville and Kingsport, absorbed much of that activity.


Only communities with at least five sales are included in the ranking. Results from smaller markets can be distorted because a single transaction may cause a large monthly swing.


Seller pricing behavior also changed. Twenty-four of July’s 56 new home sales received a price reduction—the same number as last year, but from a smaller pool of transactions. The average reduction from the original asking price increased from $15,523 to $19,012.


However, buyers secured smaller discounts at closing. Thirty-four homes sold below their final asking price, with an average gap of $5,520. In July 2025, 32 of 68 homes closed below list, and the average discount was higher at $7,717.


Together, these numbers suggest sellers initially aimed high, made larger corrections during the listing period and then held closer to their revised prices at closing.


The homes purchased were also larger. The average new home contained 1,989 square feet of finished space, up from 1,930 square feet last year. Buyers paid an average of $207.38 per square foot, compared with $203.12 in July 2025. Paying more per square foot while purchasing more space pushed final prices higher.


Homeowners associations remained common. Thirty-seven of July’s 56 new homes were located in an HOA, with an average fee of $337. Last year, 50 of 68 sales included an HOA, with an average fee of $335.


July looks less like a market slump than a reset. New construction is producing fewer transactions, but the homes selling are larger, more expensive and increasingly concentrated in fewer communities.
 ]]> </description>
    <pubDate>Mon, 17 Aug 2026 13:27:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/rogersville-led-tri-cities-markets-for-price-cuts-in-july.html</guid>
    <link>https://www.theaddingtonagency.com/blog/rogersville-led-tri-cities-markets-for-price-cuts-in-july.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Rogersville Led Tri-Cities Markets for Price Cuts in July</title>
    <description> <![CDATA[ 
Rogersville recorded the highest rate of seller price reductions among established Tri-Cities housing markets in July. Of its 21 completed sales, 12 involved a price cut, producing a market-leading share of 57.1.


Gray followed with reductions on eight of its 16 sales, or 50. Blountville ranked third, with 13 of its 27 sellers reducing their asking price before closing—a share of 48.1.


These are mid-sized housing markets, so a few additional reductions can shift their percentages quickly. Even so, the results point to a clear trend: sellers in Rogersville, Gray and Blountville adjusted their prices more frequently than those in the region’s larger markets.


How often sellers reduce their prices, however, does not necessarily indicate the size of those reductions. Rogersville had the highest price-cut share, but its average reduction was $21,125—one of the smaller averages among the ranked markets.


Gray’s sellers reduced prices less frequently than those in Rogersville, but their average cut was considerably larger at $39,625. Erwin recorded the largest average reduction at $40,550, even though price cuts occurred in only six of its 20 sales. Abingdon’s seven reductions averaged $34,643.


Buyers should consider both measurements. The price-cut share shows how likely sellers are to adjust, while the average reduction indicates how much negotiating room those adjustments may create.


The region’s largest housing markets generally remained closer to the middle of the ranking. Bristol recorded price reductions on 34 of 76 sales, resulting in a 44.7 share and an average cut of $23,965. Kingsport had 57 reductions among 140 sales, or 40.7, with an average reduction of $22,680.


Johnson City remained the steadiest of the major markets. Only 31 of its 108 July sales involved a reduction, producing a price-cut share of 28.7. Its sellers held their original asking prices more frequently than those in most other communities. That stability in the region’s largest market helped ease the Tri-Cities’ overall price-cut rate during the summer.


Jonesborough and Greeneville posted similar results. Price reductions occurred in 37.7 of Jonesborough sales and 37 of Greeneville sales. Church Hill and Abingdon each recorded a 31.8 share, followed by Erwin at 30. Elizabethton had the lowest rate in the ranking at 23.5.


Some smaller communities—including Unicoi, Hampton and Chuckey—reported even higher reduction rates. They were excluded because each recorded 12 or fewer closings. With so little activity, a single transaction can significantly change the percentage and create a misleading comparison.


July’s results show that sellers are adjusting differently across the region. Buyers may find frequent markdowns in Rogersville, Gray and Blountville, but the largest dollar reductions could appear in markets where sellers cut prices less often.
 ]]> </description>
    <pubDate>Mon, 10 Aug 2026 15:14:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-home-prices-expected-to-hold-steady-through-end-of-2026.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-home-prices-expected-to-hold-steady-through-end-of-2026.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Home Prices Expected to Hold Steady Through End of 2026</title>
    <description> <![CDATA[ 



Tri-Cities home prices are on track to remain near their current levels through the end of 2026. Sales and prices continue performing at record highs, but most of this year’s price growth occurred during the first half.


Inventory is increasing, giving buyers more options, but the number of available homes remains below pre-pandemic levels. That limited supply continues to support prices, even as high mortgage rates and more selective buyers restrict how much further they can climb.


The first half of the year did much of the market’s heavy lifting. The year-to-date median sale price in the Kingsport-Bristol metro area increased 2.04, placing it close to most full-year forecasts. Zillow’s outlook calls for a 2.4 increase in Kingsport-Bristol during the last half of 2026, leaving relatively little room for additional growth before December.


Johnson City experienced a much stronger first half. Its year-to-date median sale price rose 10.5, exceeding every full-year forecast included in the current outlook. Zillow projects approximately 2 growth for Johnson City during the second half of the year. A first-half increase of that size is unlikely to continue at the same pace, making a cooling period or price plateau more likely.


Other forecasts also point toward moderate growth rather than another major increase. Realtor.com projects a 1.2 gain, while the National Association of Realtors® offers a more optimistic 4 outlook.


Mortgage rates remain the biggest obstacle to additional price growth. The average 30-year fixed mortgage rate recently reached a yearly high of 6.76. The Federal Reserve also held its benchmark rate steady at its latest meeting, while three members supported an increase. That signals buyers should not expect meaningful rate relief in the immediate future.


Higher borrowing costs have made buyers more cautious. They are taking longer to make decisions and are increasingly willing to pass on homes that need significant repairs or carry inflated asking prices. That does not mean demand has disappeared. Well-priced, move-in-ready homes continue to sell and hold their value.


The growing divide between desirable and overpriced properties will likely define the market for the remainder of 2026. Homes in good condition and priced according to current comparable sales can still move quickly. Listings that require extensive work or begin with overly ambitious prices are more likely to remain on the market and eventually require reductions.


For sellers, pricing correctly from the first day is increasingly important. Starting too high can waste valuable time and weaken a listing’s momentum.


Buyers face less bidding pressure than they did during the most competitive recent years, but the strongest listings still attract attention. Waiting for a widespread decline in Tri-Cities home prices is unlikely to pay off this year. The more probable outcome is a stable market with firm prices, selective buyers and slower growth through December.
 ]]> </description>
    <pubDate>Mon, 03 Aug 2026 13:22:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-housing-market-remains-strong-but-reaches-an-affordability-plateau.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-housing-market-remains-strong-but-reaches-an-affordability-plateau.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Housing Market Remains Strong but Reaches an Affordability Plateau</title>
    <description> <![CDATA[ 
The Tri-Cities housing market ended the first half of 2026 on solid ground, but signs of a plateau are beginning to emerge. Demand remains strong, prices are still rising and inventory continues to favor sellers. However, affordability has limited further growth and pushed more buyers toward the middle and upper ends of the market.


Through June, the region recorded 4,115 home sales, an 8.3 increase from the same period last year. New listings rose 2.9, while the median sales price increased approximately 3.5.


Despite those gains, TCI’s Annualized Sales Tracker—a rolling 12-month measurement of closings—declined 0.1. The small dip ended 12 consecutive months of growth. It does not signal a downturn, but it suggests the market is leveling off.


Affordability is the primary constraint. Mortgage rates have remained near 6.5, causing monthly payments to rise faster than many local incomes. Prices continue climbing, but the number of buyers who can comfortably afford them is no longer expanding.


Inventory offers limited relief. Active listings increased 6.3, but the region had only about 3.5 months of supply at mid-year. A balanced housing market generally carries five to six months of supply, meaning the Tri-Cities remains firmly favorable to sellers.


Existing homeowners are in a stronger position. Approximately 56.3 are considered equity rich, meaning they owe no more than half of their home’s value. That equity gives many owners the flexibility to sell and move into a higher-priced property.


The market’s tension is most visible in initial pricing. Sellers reduced asking prices on nearly half of June’s listings, yet closing concessions remained steady at around 60 of sales. This suggests that many homes are priced too aggressively at first. Once corrected, they generally sell near their final list price.


Affordability has also changed the types of homes selling. New-home closings were nearly unchanged at 404, compared with 401 last year, but the median new-home price jumped almost 15. Builders are selling larger floor plans to buyers who still have the income and equity to purchase them.


Sales between $500,000 and $1 million increased approximately 12, rising from 395 to 443. Sales above $1 million climbed from 42 to 48. Meanwhile, June pending sales fell 17.5 in the entry-level range but rose 22.2 between $300,000 and $499,999.


Population trends help explain this shift. The region is growing entirely through in-migration, led largely by retirees and adults in their mid-50s. At the same time, recent college graduates and younger residents are leaving. Many newcomers arrive with equity and can purchase higher-priced homes, while fewer are joining the workforce.


The second half of 2026 will likely resemble the first: firm prices, tight supply and strong demand in upper tiers, paired with an increasingly thin entry-level market.
 ]]> </description>
    <pubDate>Wed, 29 Jul 2026 15:25:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-job-growth-outpaces-national-hiring-slowdown.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-job-growth-outpaces-national-hiring-slowdown.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Job Growth Outpaces National Hiring Slowdown</title>
    <description> <![CDATA[ 
The Johnson City and Kingsport-Bristol metro areas continued adding jobs over the past year, even as hiring across the nation nearly stalled. Healthcare and hospitality supported growth in both local markets, but the region’s increasing dependence on a small number of industries could create challenges later this year.


The Johnson City metro area added approximately 700 jobs between June 2025 and June 2026, increasing employment from 86,000 to 86,700. Retail trade led the market by adding about 400 jobs—an especially notable gain because retailers in many other markets have reduced staffing as consumers increasingly shop online.


Private education and healthcare added another 300 jobs in Johnson City, while leisure and hospitality gained approximately 200. Manufacturing recorded a small increase, but employment declined slightly in construction, information, and professional and business services. Most other sectors remained unchanged.


Kingsport-Bristol added approximately 800 jobs during the same period, growing from 128,700 to 129,500. Its strongest gains came from professional and business services, which added about 600 jobs. Private education and healthcare followed with 500 new jobs, while leisure and hospitality added approximately 300.


Unlike Johnson City, Kingsport-Bristol lost retail jobs. Transportation and utilities also declined, along with smaller losses in construction, wholesale trade, information, and financial activities. Manufacturing held steady at approximately 20,800 jobs—an important source of stability because factory employment represents a larger portion of the Kingsport-Bristol economy.


Together, the two metro areas present contrasting pictures. Johnson City is increasingly supported by consumer spending, while Kingsport-Bristol relies more heavily on professional services. Both markets, however, continue to depend on healthcare and hospitality.


The headline employment totals declined from May to June, but the drop appears seasonal rather than an indication of broader weakness. Government employment typically falls when the school year ends, and the figures are not seasonally adjusted. Excluding government payrolls, both metro areas added private-sector jobs during June.


Nationally, employers added only 57,000 jobs in June, well below economists’ expectations of 115,000. April and May totals were also revised downward by a combined 74,000 jobs. Although unemployment declined to 4.2, the decrease was largely caused by people leaving the labor force rather than finding employment.


The Tri-Cities hospitality sector performed particularly well compared with the nation. Leisure and hospitality lost 61,000 jobs nationally amid weak summer hiring, while both local metro areas added jobs in the sector.


Healthcare remains the region’s most important sector to watch. National healthcare hiring slowed below its typical pace in June. If that slowdown reaches Northeast Tennessee, it could weaken the primary source of recent job growth in both metro areas.
 ]]> </description>
    <pubDate>Wed, 22 Jul 2026 09:54:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-housing-market-stays-healthy-as-johnson-city-and-kingsport-lead-june-growth.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-housing-market-stays-healthy-as-johnson-city-and-kingsport-lead-june-growth.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Housing Market Stays Healthy as Johnson City and Kingsport Lead June Growth</title>
    <description> <![CDATA[ 
Tri-Cities Housing Market Stays Healthy as Johnson City and Kingsport Lead June Growth


The Tri-Cities housing market delivered a healthy performance in June, with both sales activity and home prices moving higher across the region. That combination is one of the clearest indicators of a stable market. When transaction volume rises alongside price growth, it usually points to real buyer demand rather than temporary market distortion. In June, the strongest momentum came from the center of the region, with Johnson City and Kingsport standing out as the primary drivers of both sales volume and pricing strength.


Johnson City and Kingsport Powered the Month


June home sales across the Tri-Cities rose 4.5 compared with the same month a year ago, while the regional median sale price climbed 4.75 to $309,000. Those are solid numbers on their own, but the local breakdown shows where the real engine of the market is operating.


Johnson City and Kingsport combined for 252 sales during the month, accounting for nearly one-third of all transactions across the region. When Jonesborough, Greeneville, and Bristol, Tennessee are added to the mix, the top five markets represented roughly half of all June sales. That concentration shows how heavily the regional housing market depends on its core population and employment centers.


Johnson City was especially notable because it moved ahead of Kingsport in total sales for the month. Kingsport has led the region for quite some time, so Johnson City’s move into the top position is worth attention. What makes it even more significant is that Johnson City achieved this while its median price rose more than 16 year over year. Rising sales combined with rising prices is one of the strongest indicators of real market demand.


Price Growth Was Strong, but Some Markets Need Context


Jonesborough was the region’s clearest price leader in June, posting a median sale price above $408,000 while also generating strong sales volume. That matters because high pricing supported by healthy volume tends to reflect genuine market strength rather than a statistical outlier.


Other markets such as Piney Flats, Mountain City, and Abingdon also posted high median prices. But smaller markets always need to be read with more caution. In places where only a small number of homes sell in a given month, a few high-end or low-end transactions can push the median sharply in one direction.


Telford is the clearest example. It posted the highest median price in the region at more than $409,000, but that figure was based on just five sales. That is not enough activity to establish a meaningful market trend. In practical terms, Jonesborough should be viewed as the true price leader for June because its results were supported by stronger sales volume and a more reliable sample size.


Small Markets Show Movement, but the Core Markets Matter Most


Some of the most dramatic percentage changes in June came from smaller communities. Gate City’s sales more than doubled, and Erwin posted a 60 increase. Those gains are notable, but they should be interpreted carefully because low-volume markets can swing widely from month to month with only a few additional closings.


The same caution applies to price changes in places like Mountain City or Bristol, Virginia. These moves may be worth watching, but they do not yet establish a lasting trend. Bulls Gap and Surgoinsville had fewer than five closings each, leaving them too small to support reliable comparison at all.


The bigger story is that the Tri-Cities housing market remains healthy because its central markets are doing the heavy lifting. Johnson City and Kingsport are generating both the volume and the price strength that keep the regional market moving forward. As long as those core areas continue to show demand, the Tri-Cities should remain on solid footing heading into the second half of the year.
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    <pubDate>Thu, 16 Jul 2026 16:15:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-new-home-market-holds-steady-in-sales-but-jumps-in-price-2026.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-new-home-market-holds-steady-in-sales-but-jumps-in-price-2026.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities New Home Market Holds Steady in Sales but Jumps in Price 2026</title>
    <description> <![CDATA[ 
Tri-Cities New Home Market Holds Steady in Sales but Jumps in Price


The Tri-Cities new home market did not expand in size in May, but it became noticeably more expensive. While the number of closed sales remained unchanged from a year ago, both median and average prices posted substantial gains. That combination points to a market where demand is still holding, but the cost of entering the new construction segment continues to rise. For buyers, builders, and sellers watching Northeast Tennessee housing trends, May’s data offers a clear reminder that price growth can remain strong even when transaction volume stays flat.


Prices Are Climbing Even Without More Sales


There were 86 new home sales across the Tri-Cities in May, exactly the same number as in May 2025. But the pricing story was much different. The median sold price rose 20.6 to $387,932, while the average sold price increased 17.9 to $423,326. Those are significant year-over-year gains, especially in a market where sales volume did not move.


Compared with the broader all-sales market, new construction is clearly seeing stronger price appreciation. The median price for all home sales in the region was $300,000, up 4.8 from last year, while total sales improved by just 1.3. That contrast highlights how much more rapidly the new home segment is moving up in value.


Builders also did not appear to need major price cuts to close deals. New homes sold for 99.4 of their list price, nearly identical to last year. That suggests buyers are still willing to pay close to asking price, reinforcing the idea that demand for new construction remains healthy even at higher price points.


Larger Homes and Higher Price Tiers Are Driving the Shift


Part of the price increase came from buyers purchasing larger homes. The median new home sold in May measured 1,864 square feet, up 115 square feet from a year ago. At the same time, price per square foot also increased, with the median price per finished square foot rising 11.4 to $204.96. In other words, buyers were not just paying more because homes were bigger. They were also paying more for each square foot of finished space.


The biggest pricing change may be happening at the lower end of the market. In May 2025, one in five new homes sold for less than $250,000. This year, only 6 of sales fell into that range. Meanwhile, homes priced at $500,000 and above grew from 13 of sales to 20. That shift suggests entry-level new construction is becoming less common, while higher-priced homes are making up a larger share of the market.


Johnson City Continues to Lead Regional New Construction Activity


Johnson City once again led the region in new home sales with 29 closings, accounting for more than one-third of the total. Greeneville and Jonesborough followed with 11 sales each, while Bluff City and Kingsport rounded out the busiest local markets.


Recent building permit trends suggest that future supply could vary by metro. During the first four months of 2026, the Johnson City metro recorded 284 single-family permits, down from 310 a year earlier. Meanwhile, Kingsport-Bristol posted 278 permits, up from 221 last year. That could mean more future building momentum in Kingsport-Bristol, even as Johnson City remains the region’s current new home leader.


Overall, May’s data shows a Tri-Cities new home market that remains active but increasingly expensive. Sales volume may be steady, but higher prices, larger homes, and fewer lower-cost options are reshaping what new construction looks like across Northeast Tennessee.
 ]]> </description>
    <pubDate>Fri, 10 Jul 2026 18:54:00 -0400</pubDate>
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    <guid>https://www.theaddingtonagency.com/blog/tri-cities-luxury-housing-market-cools-as-buyers-gain-more-leverage.html</guid>
    <link>https://www.theaddingtonagency.com/blog/tri-cities-luxury-housing-market-cools-as-buyers-gain-more-leverage.html</link>
        <author>liv@theaddingtonagency.com (Liv Stevens)</author>
        <title>Tri-Cities Luxury Housing Market Cools as Buyers Gain More Leverage</title>
    <description> <![CDATA[ 
Tri-Cities Luxury Housing Market Cools as Buyers Gain More Leverage


The top end of the Tri-Cities housing market has shifted in a meaningful way. Luxury homes priced at $1 million or more are still selling for about the same prices they did a year ago, but they are taking longer to sell and sellers are making larger price cuts to get deals done. That combination points to a market that is no longer moving at the speed it did during the height of post-pandemic demand. For buyers, it means more options and less competition. For sellers, it means pricing strategy matters more than ever.


Prices Are Holding, but Sales Activity Has Slowed


Eight homes priced at $1 million or more sold in the Tri-Cities last month, down from 11 sales during the same month a year ago. That lower volume suggests that the luxury market has cooled, even though values themselves have remained relatively stable.


The median sale price last month was $1,406,250, slightly above the $1,390,000 median from a year earlier. The average sale price also rose modestly, increasing from $1,434,909 to $1,452,106. In other words, the luxury market is not seeing major price declines. Instead, it is holding its value while buyer activity slows and negotiating power shifts.


The top sale of the month was a Kingsport home that closed at $1,953,000. A year earlier, the highest sale was a Johnson City property at $2,100,000. While those numbers show that buyers are still willing to pay for premium homes, they also suggest that the top of the market is no longer operating with the same urgency or intensity it did a year ago.


Longer Market Times and Bigger Price Cuts Favor Buyers


One of the clearest signs of changing conditions is the increase in time on market. The typical luxury home spent 130 days on the market last month. A year ago, that number was just 43 days. That is a major shift and shows that buyers in this price range are taking more time to evaluate options and negotiate terms.


Sellers are also making larger price reductions. The average gap between the original asking price and the final asking price was $168,698, or 9.8 of the original list price. A year ago, that gap was only $48,182, or 3.2. Six of the eight homes sold this year had price cuts before closing, compared with just two of the 11 luxury sales a year ago.


Buyers are also getting more space for their money. The average luxury home sold last month had 5,235 finished square feet, compared with 5,015 square feet a year earlier. At the same time, the average price per square foot declined from $317.34 to $282.71. That means today’s buyers are often paying similar total prices while receiving larger homes and a better value on a per-square-foot basis.


Johnson City Led Sales, but the Message for Sellers Is Clear


Luxury sales were spread across the region, but Johnson City accounted for three of the eight closings. The remaining sales were split one each among Abingdon, Gray, Greeneville, Jonesborough, and Kingsport. A year earlier, Kingsport led the market with three sales, followed by Johnson City and Jonesborough with two each.


There are currently 119 active luxury listings across the Tri-Cities and only six pending sales, giving buyers more choices than they had a year ago. That growing inventory, combined with slower sales and deeper price cuts, points to a market that has tilted toward buyers.


For now, luxury sellers in Northeast Tennessee can still achieve strong values, but patience alone is not a strategy. Homes that are priced too aggressively are more likely to sit, require reductions, and ultimately close on less favorable terms. In today’s high-end market, realistic pricing is what gets sellers to the closing table.
 ]]> </description>
    <pubDate>Mon, 29 Jun 2026 08:46:00 -0400</pubDate>
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