Bristol, TN

Hot Real Estate Market for Homes in the Tri-Cities

John M. Dabbs

The Bristol, Kingsport, and Johnson city real estate market report for buying and selling homes in Washington County and Sullivan County is good news. According to Walletinvestor.com the housing market is profitable for those looking to flip homes, or invest.

Bristol

It's a good time to buy and sell homes in Bristol, Tennessee. You may not have heard, but there is a major casino, hotel, and resort being developed at the former Bristol Mall on the Virginia side of town.

For those looking to invest or flip homes in the Bristol area, it could be a good investment - according to Walletinvestor.com. The median price of an average house in Bristol, Tennessee was $140,274 on March 16, 2022. Based on the Walletinvestor.com forecasts, they are looking at a 1.729% increase in the next six months. Walletinvestor.com is also forecasting a 3.853% growth in 1 year, 18.374% growth in 5 years, and 35.990% growth in 10 years for the Bristol area.

The real estate market forecasts for Kingsport and Johnson City are close behind. The housing market forecast for Bristol, Virginia is less robust according to WalletInvestor.com. Rockethomes.com lists the Bristol, Virginia market as decreasing with the median home list price at $205,000 - a 25.5% drop since last year ($70,000).

According Rockethomes.com, homes for sale in Bristol increased by 71.8% from January to February. . The median list price of listings available in February 2022 was $188,500, while the average time on the real estate market was 156 days. Between January 2022 and February 2022, listing prices of 2 bedrooms properties went up by 56.7%, 3 bedrooms properties went up by 32.2%, 19.7% for 4 bedrooms and, up 9% for 5 bedroom homes.

Johnson City

The median price of an average house in Johnson City, the largest of the Tri-Cities, was $175,762 on March 16. The Walletinvestor.com long term forecast for the Johnson City area is 17.66% by 2027. This means an investment of $100,000 today could yield $117,660 by 2027.

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Jamie Lancaster/Jamie Lancaster

Realtor Jamie Lancaster, a Realtor in in the Virginia Beach area and former Johnson City resident, says the real estate market in Johnson City, Tennessee is great because it has everything someone would want - schools, jobs, parks, recreation, and infrastructure for business.

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Corey Tittle/Bixby Homes Group

Realtor Corey Tittle of Bixby Homes Group inJohnson City says there are areas like Gray, Jonesborough, and Piney Flats are more sought than others. The current real estate market is so limited with options, people are taking anything they can get. People new to the are are typically conservative, looking for low taxes and reasonable costs of living. Many are retired professionals who are moving here where their retirement dollars can stretch much further.

Tittle says new construction and remodeled homes are selling well. He says buyers are going crazy over high-end finishes products used in homes. Those looking for homes can often find a good realtor in the area. Tittle says the values he brings from his time as a fire department, serving the customer, have helped him develop his business. He says most buyers who find homes online, such as with Zillow or other platforms, contact a realtor through the app - who may not be the listing agent, but someone who pays to be listed on the platform.

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An outdoor enthusiast with a passion for travel and adventure. John is a professional consultant and photojournalist.

Bristol, TN
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