By DON FENLEY

Mobile home sales were down in August while the median sales price was up. Sellers were reducing their price more than they were last year and concessions were higher.

There were 44 sales in the primary counties monitored by the Northeast Tennessee Association of Realtors (NETAR) last month. Last year there were 48.

The median sale price was $180,000 up from $176,000 last year.

Sellers reduced their asking price on 18 of the mobile homes that sold, but the reductions were not as generous as they were last year. The average last month was $18,490. Last year, the average was $23,102.

Concessions saw the same pattern as price reduction.

Sellers reduced their asking price on 27 of the homes that sold compared to 23 August last year. The average concession was $13,638, down from $15,840 last year.

The share of cash sales mirrored the pattern for regional home sales – 36%.

Greene Co. accounted for most of the mobile home sales as it did August last year. The largest sales reduction came in Sullivan Co. where there were nine closings compared to 14 last year.

Overall, mobile home sales accounted for 4.4% of the region’s August home sales.

In late September there were 115 active mobile home listings in NETAR’s primary seven-county area.

Categories: REAL ESTATE