Is Kingsport, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Kingsport has remained a Seller's Market.
Key Takeaway
Kingsport is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Kingsport, TN
How much do homes in Kingsport, TN cost?
Median Sold Price
$258,529
$150/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Kingsport have sold for 7.8% more than they did a year ago.
Summary: The median home sold price in Kingsport was $258,529 in May 2024, up 7.8% from last year, and the median price per square foot was $150.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $77.5K | $215K | +177.4% |
| 2 Bedrooms | $135K | $157.6K | +16.8% |
| 3 Bedrooms | $230K | $249.9K | +8.7% |
| 4 Bedrooms | $325K | $342.2K | +5.3% |
| 5+ Bedrooms | $451K | $386.9K | -14.2% |
Summary: Kingsport housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 177.4%, 2 bedroom homes increased by 16.8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes decreased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Kingsport | $239.9K | $258.5K | +7.8% |
| Johnson City | $272.3K | $287.4K | +5.5% |
| Mount Carmel | $242.5K | $253.4K | +4.5% |
| Blountville | $275K | $278.7K | +1.4% |
| Fall Branch | $282.7K | $262.4K | -7.2% |
Housing Supply in Kingsport, TN
How many homes are available in Kingsport, TN?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 418 | 417 | -0.2% |
Summary: The Kingsport real estate market had 417 homes for sale in May 2024, a 0.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 63 | 68 | +7.9% |
| 3 Bedrooms | 204 | 210 | +2.9% |
| 4 Bedrooms | 114 | 105 | -7.9% |
| 5+ Bedrooms | 36 | 34 | -5.6% |
Summary: The Kingsport housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 7.9%, 3 bedroom homes increased by 2.9%, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes decreased by 5.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 121 | 104 | -14.0% |
Asking Price vs. Sold Price
53 Homes Were Sold
Under Asking
21 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Kingsport, you may be able to get a good deal. 51% of homes here sold below asking price last month.
Summary: A total of 104 homes were sold or pending in Kingsport in May 2024, down by 14.0% month-over-month. Of the 104 sold homes, 51% were sold under asking, 20% were sold at asking, and 29% were sold over asking.
Days on Market for Kingsport, TN
How long does it take to sell a home in Kingsport, TN?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 53 Days | 67 Days | +27.5% |
Summary: Homes in Kingsport had an average of 67 days on market in May 2024, up by 27.5% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
64 Homes Were Sold
In 30 - 90 Days
24 Homes Were Sold
Over 90 Days
Key Takeaway
Avg time on Rocket Homes in Kingsport has remained consistent over time.
Summary: During May 2024, 104 homes were sold in Kingsport; 15% of homes were sold within 30 days, 62% of homes were sold within 30 to 90 days, and 23% of homes were sold over 90 days.
The data relating to real estate for sale on this web site comes in part from the Internet Data exchange (“IDX”) program of the Knoxville Area Association of REALTORS® Multiple Listing Service. IDX information is provided exclusively for consumers' personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. Some or all of the listings may not belong to the firm whose website is being visited. Real estate listings held by brokerage firms other than this broker are indicated by detailed information about them such as the name of the listing firms. 
Listings courtesy of RealTracs Middle Tennessee Regional MLS as distributed by MLS GRID.
© 2024 of the REALTRACS MLS. All rights Reserved.