Kingsport Times News Friday, October 31, 2014

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Local housing market warms up

March 22nd, 2014 5:40 pm by Hank Hayes

Local housing market warms up

The Northeast Tennessee Association of Realtors's Trends Report says 32 homes were sold in Kingsport last month, four more than January. The $166,007 average price was $45,757 better than in January. Photo by Ned Jilton II.

KINGSPORT — Kingsport's housing market is warming up coming out of a frigid February.

The average Kingsport home sale price hit a five-month high last month while overall sales were better than both January and February of 2013, according to the Northeast Tennessee Association of Realtors (NETAR).

"The Kingsport market generally lags behind Johnson City and Bristol," said NETAR President Louie Leach. "The weather really didn't impact [Kingsport]. ... We are hearing everything will still trend upward. ... Houses that are priced right are flying off the market. Buyers aren't going to overspend for anything."

NETAR's Trends Report said 32 homes were sold in Kingsport last month, four more than January. The $166,007 average price was $45,757 better than in January. When compared to the same month last year, there were five more sales and the average price was $22,790 higher, according to NETAR.

"While most local markets showed small gains or retreated, Kingsport posted solid gains," NETAR's report said. "The median price for Kingsport home sales has been steadily increasing for six months as activity in the higher-priced homes picked up."

Sullivan County saw 96 homes sold, four more than in January. The average sales price was $144,752, a $13,447 improvement from January.

For an expanded version of this article, please see Sunday's print edition or our expanded electronic edition.

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