- Carter and Hawkins counties had best annual avg. price gains last year.
- Elizabethton lead city markets with highest annual avg. price increase
By now anyone interested in the local economy or real estate knows that 2017 was another big year for both home sales and average price gains in the Tri-Cities region. It was the second-year residential sales were over 1 billion dollars. And despite the Tri-Cities’ improving job market real estate was again the top performing local economic segment last year.
And those who watch these blog reports know that Bristol TN and Bristol VA were the hot city markets for sales. But what the most and least expensive markets as determined by the annual average sales price of single-family homes?
Johnson City remains the most expensive city market and continues to lead the mark with the highest single-family average sales price.
Kingsport is a distant second.
Erwin, Bristol TN, and Greeneville have average prices that are similar.
Washington County TN – like Johnson City – continues to be the price leader among the local county markets.
And although the Washington Co. VA market was off its pace last year, it ranked in second place last year while Sullivan County was a close third.
The least expensive county markets were in Southwest Virginia.
It’s also noteworthy that although Hawkins and Carter counties were in the middle of the average sales price rankings, they had the largest annual price performance when compared to 2016.
Elizabethton outperformed the other city markets with the highest annual single-family resale increase price.