By DON FENLEY

The Tri-Cities new home market posted a sharp gain in April. Minus one sale for $1 million plus, sales jumped 64%, and the median price rose 16%. So far this year there have been 161 sales, up from 138 this time last year.

The gap between the average and median sold price is an instructive data point in last month’s report. Both rose, but the median’s 16% gain against the average’s 5% increase means the middle of the market is becoming more expensive.

Price per finished square foot held essentially flat despite the higher overall prices. Buyers who paid more in April 2026 also got proportionally more space.

The days-on-market drop is the sharpest single-year improvement in the dataset and probably the most reliable signal about underlying market conditions. When the time on market is increasing it signals less consumer demand. When it decreases demand is increasing.

The geographic shift in the new home market city breakdown is harder to read without context. Johnson City accounted for 16 of 46 closings last month. That’s more than a third of the total regional sales. Last year the city logged just three closings.

EDITOR’S NOTE – Statistical comparisons exclude one sale in each year at or above $1 million, both in Johnson City. Data source: MLS transaction records, extracted May 14, 2026.

Categories: REAL ESTATE