Overall, the Tri-Cities housing market is still rated as a seller’s market since the region has only 3.6 months of inventory. However, there are several price bands with the 5 to 6 months inventory level commonly associated with balanced market conditions. Click on the chart for a larger file.
The TCI Group’s Annualized Sales June report shows the Tri-Cities is a stable, though slightly constrained, housing market heading into the second half of 2025.
June’s data reaffirms that while the market isn’t accelerating at pandemic-era speeds, it remains resilient. Activity is concentrated in the mid-price bands, and higher-end homes are attracting steady interest. Johnson City continues to be the sales leader, with Kingsport and Bristol also contributing balanced performance. Greeneville shows stable but tighter market dynamics due to supply constraints.
Heading into the second half of 2025, price sensitivity and inventory levels in the $200K–$400K range will likely shape market conditions. Sellers in this zone remain well-positioned, while buyers continue to act decisively when appropriately priced properties appear.
More suburban-oriented businesses are beginning to locate in area where new housing is being built. A primary example is the Gray area. A stable housing market is a key incentive for expanded commercial real estate a investors and business people move to meet new and expanding consumer demand.
As we move further into 2025, current indicators suggest the market is entering a stabilization phase. While elevated borrowing costs continue to suppress some demand, supply-side constraints are beginning to ease. New listings are showing slight growth in higher price tiers, and investor activity remains strong in rental-suited segments and build-to-rent projects.
Sales are expected to hover slightly below the 2021–2022 highs for the foreseeable future, with a slow upward drift contingent on rate cuts and demographic tailwinds. Investors and agents alike should keep an eye on submarkets showing faster inventory turnover and expanding new construction activity — both are potential signals of future volume growth.
Regional Annualized Volume Overview
- Johnson City leads the region with an estimated 2,668 annualized sales, driven by sustained activity in the $200,000–$399,999 range.
- Kingsport follows at 1,818 sales, with steady volume across the mid-tier price brackets.
- Bristol TN/VA projects to reach 1,135 annualized sales, showing moderate activity and a balanced market tone.
- Greeneville rounds out the core submarkets with 975, reflecting tighter inventory and affordability-driven demand.
These figures establish the market’s equilibrium point for the year, highlighting a region that is neither overheating nor sharply contracting.
Annualized Volume Trends by Price Range
The $200,000–$299,999 price band continues to be the heartbeat of the market. So far this year:
- Johnson City recorded 809 sales in this tier—its highest segment volume—followed by Kingsport with 579, and Greeneville with 362.
- Region-wide, this tier accounts for 2,122 sales, one-third of the total activity.
The $300,000–$399,999 range also commands strong attention, especially in Johnson City (596 annualized) and Tri-Cities overall (1,413):
- Demand here reflects buyer confidence, often driven by new construction, renovation quality, and premium locations.
Lower-priced inventory remains in shorter supply and lower demand:
- Sales below $100,000 comprise only 252 annualized transactions across the region, just under 4% of the total.
- Bristol and Kingsport account for a disproportionate share of this category, due to older housing stock and remaining affordability pockets.
On the upper end:
- Homes in the $400,000–$499,999 range show promising activity—especially in Johnson City (333) and Kingsport (181).
- The $500,000 and up bracket, while still a smaller slice, signals notable traction with Johnson City (260) and Tri-Cities regionally tallying 651 sales above half a million dollars on an annualized basis.