KINGSPORT — Citing a lack of homes for sale priced at over $500,000, the Kingsport Board of Mayor and Aldermen last week told City Manager John Campbell to continue working on a plan to make city funding available to provide developers with lots on which to build spec homes in that price range.
During a discussion of the issue at the BMA’s work session, real estate broker and Alderman Colette George said there simply aren’t enough $500,000-plus homes on the market in Kingsport to make the city competitive with Johnson City when executive-level newcomers move here.
George said there were 13 such homes available in Kingsport, compared to 57 in Johnson City — and Campbell said the ones in Johnson City are much more likely to be newer homes surrounded by other newer homes.
George said the BMA’s concern about a lack of higher-end homes for sale isn’t a slight on housing available in more modest price ranges — because Kingsport’s market already is competitive with Johnson City in that regard.
George said current numbers show 149 homes in Kingsport for sale under $100,000, compared to 74 such units in Johnson City (with 36 homes listed for sale in Kingsport for under $50,000 and only 18 in Johnson City).Read more in the Sunday print edition of the Times-News or in the expanded electronic edition.