Washington Co. TN dominating Tri-Cities high-end home market


Permits for high-end Tri-Cities homes blasted past last year’s total during the first nine months of this year. It’s the only region in E. Tennessee where that has happened.

According to the Market Edge’s Residential Building Permits Trend Report 16 high-end homes were permitted in Q3.  So far this year 51 permits have been issued in the seven-county region compared to 46 in 2014

high end homes

Year-to-date permits for the first nine months of this year compared to annual totals for past three years.

A high-end home is defined by the Market Edge as over 4,000 sq. ft. or with a permit value over $400,000.

Most of those permits have been pulled in Washington Co. TN (24) followed by Washington Co. VA (15).

To illustrate the dominance of Washington Co. TN in this segment of the new home construction consider this: So far this year permits in that county are just three shy of all the permits issued in the Tri-Cities.

Permits in Sullivan Co. – where there was much consternation about the lack of high-end homes and even a city program that encouraged more of them –  dropped to five during the first nine-months of this year and rank just behind Greene Co. for permitting this year.

Sullivan Co.’s push for high-end homes followed a wave of new Eastman residents choosing to live in Washington Co. Currently, Kingsport is focusing on new apartments to capture new residents.

 

 

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