The Johnson City metro area’s housing market is cooling down while it’s beginning to heat up in the Kingsport-Bristol area. What both Tri-Cities area markets have in common is homes for sales listing are getting more views than the national average and inventory is moving slower.
That assessment comes from Realtor.com’s monthly Market Hotness Index, which monitors how local areas are experiencing supply and demand. The analysis breaks down demand and supply dynamics to rank metro areas relative to the rest of the country. Views of listing are used as a demand indicator while median days on the market are used as a supply indicator.
Here’s how the February ratings look for the seven-county markets two metro areas
Johnson City is ranked #112 out of 300 metros. It a slightly hot market that is cooling down slightly compared to last month, and heating up compared to last year. Median days on market is 98, with inventory moving 7% slower than last year and 15 days slower than the US overall. Properties in the area receive an average number of views 1.8 times higher than the US average
Kingsport-Bristol is ranked #200. The market is slightly cool and heating up compared to last month, and heating up compared to last year. Median days on market is 121 days, with inventory moving 6% slower than last year and 38 days slower than the US overall. Properties in the area receive an average number of views 1.2 times higher than the US average.