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Kingsport existing home sales, average price increase in January

Staff Report • Feb 22, 2010 at 12:00 AM

Existing home sales in Kingsport increased in January as did the average sales price.According to the Northeast Tennessee Association of Realtors, the average sales price of an existing Kingsport home sold last month was $142,304. That's 16 percent higher than the December price, but 10.7 percent less than the January 2009 average price of $159,412.Twenty-one homes were sold in Kingsport last month, two more than in December and two more than during the same month last year.Sullivan County also showed an improvement in average sale price. During January the average sales price was $151,013, up 15.6 percent from December's average, and 10.2 percent higher than the January 2009 average of $137,023. Sixty-three homes were sold county-wide last month, two fewer than during December and nine more than during January 2009.Area wide existing home sales decreased in January from December, but there were signs that average sales prices are reversing last year's downward trend. According to the Northeast Tennessee Association of Realtors, 211 homes were sold in the NE Tenn.-SW Va. region it serves last month - 266 were sold during December. The average regional sales price last month was $144,691, an increase of $643 from December but $2,074, or 1.41%, less than the January 2009 average sales price. The January average sales price of $141,980 in Bristol, Tenn. was 6.9 percent higher than December's $132,812 price and $61,658 higher than January 2009 average of $80,322. Bristol posted 10 existing home sales last month, down seven sales from December and one more than during the same month last year. In Johnson City existing home sales saw an increase in average sales price of 16.2 percent when compared to December. The average January price of $219,535 was 7 percent higher than the price during the same month last year. A total of 17 existing Johnson City home sales were recorded last month, down 15 sales from the December total and nine sales below the January 2009 total. Washington County, Tenn. saw a higher average sales price in January than in both December and January 2009. Last month's average price was $191,237, 9 percent more than December's average and 5.8 percent more than the same month last year. Forty-eight existing homes were sold last month. That was 21 fewer than December's sales and nine fewer than January 2009's sales.Hawkins County saw 11 home sales in January and the average sales price was $95,154, down 25.2 percent from December's $127,165 average. January's average price also lagged behind the average sales price from the same month last year by 22.7 percent. The average number days on market for an existing home sale in the region during January was 163 - 20 more than last month and 10 more than during January 2009. NETAR tracks home sales and prices in Washington, Sullivan, Johnson, Hawkins, Carter, Unicoi and Greene counties in NE Tenn. and Washington, Scott, Lee and Wise in SW Va.

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