Kingsport, TN - Local Housing Data - Summary

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Kingsport, Bristol, Bristol, TN, VA

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Kingsport, TN Local News

Newest Numbers For Kingsport Show New Home Closings and Prices Increase

Posted on: Aug 08, 2014 11:29:53 AM

In the Kingsport, TN market, closings of new homes grew year-over-year in April, rebounding from a year-over-year decline in March 2014. New home closings moved from 3 a year earlier to 5 after the figure moved from 9 in March 2013 to 5 in March 2014.

A total of 46 new homes were sold during the 12 months that ended in April, up from 44 for the year that ended in March.

5 of the 306 total closings were new home closings, a shift on a percentage basis from 3 out of 310 a year earlier. Following a year-over-year decline in March, closings of new and existing homes also fell year-over-year in April.

Pricing and Mortgage Trends

The average price of new homes rose to $251,091 from last year's $205,187. This came after a 24.3% fall in March from a year earlier.

Average mortgage size on new homes fell from $222,373 to $213,133. Average mortgage size on new homes went from $201,613 in March 2013 to $157,994 in March 2014.

 
 
 

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