Elizabethton Market Update: February 2025
The latest Northeast Tennessee and Southwest Virginia housing market data reveals some interesting shifts in Elizabethton's real estate landscape. As your local Elizabethton specialist, I'm here to break down what these numbers mean for our community and how they relate to broader regional trends.
Elizabethton's February 2025 data shows a notable adjustment from December's figures. The median home price has decreased from $264,000 to $251,000, representing a 4.9% decline over just two months. This adjustment brings our market closer to the regional average while still maintaining stable value. Year-over-year data shows a slight 0.7% decrease in median sale price, indicating a market that's finding its equilibrium after the significant appreciation we saw throughout 2024.
Sales volume in Elizabethton has decreased from 26 homes in December to 20 in February, reflecting a 23% reduction. This represents a 9.1% year-over-year decline, which is actually less severe than many surrounding communities. For context, Johnson City experienced a 29.9% year-over-year decrease, while Kingsport saw a 33.3% reduction.
These shifts align with broader regional trends highlighted in Don Fenley's recent analysis of Tri-Cities migration patterns. According to Fenley, "New residents continued flocking to the Tri-Cities last year and fueling population growth. But the flow is changing. In 2024 it was down 30% from the previous year." This slowing migration likely contributes to our region's cooling sales volume.
Fenley notes that while the Johnson City metro area saw a 45.7% decline in net domestic migration, the Kingsport-Bristol area experienced a smaller 16.9% decrease. Elizabethton's relatively modest sales volume decline suggests we're weathering this migration slowdown better than many neighboring communities.
Despite these adjustments, Elizabethton's market position remains strong. Our median price of $251,000 places us squarely in the mid-range of regional communities, offering excellent value compared to areas like Johnson City ($325,000) and Blountville ($338,923).
For homeowners, this stabilization after rapid appreciation represents a sustainable market condition. For buyers, Elizabethton continues to offer excellent value with prices below the Tri-Cities average of $262,000.
As Fenley points out, "The softening of the net domestic migration isn't expected to have a significant effect on the housing market," noting that "filling the housing shortage – given current conditions – is still years away." This suggests that while the market is adjusting, fundamental demand remains strong.
Whether you're considering buying or selling in Elizabethton, these trends indicate a market that's finding balance while maintaining its core strength and value proposition.
Please add a hyperlink to Don Fenley's article:
https://donfenley.com/2025/03/18/tri-cities-city-community-february-home-sales/
SHARE THIS POST!
MARKET PULSE BLOG
East Tennessee Real Estate Updates, Tri-Cities Auction Insights, and Valuable Market Tips!
Collins & Co. Realtors And Auctioneers provides comprehensive real estate and auction services. Voted Best Real Estate Agency, Auction Firm, and Realtors by The Johnson Press and The Elizabethton Star Readers' Choice Awards, you can trust our experts to help you achieve your goals. Come see the difference our professional team of auctioneers and real estate agents can make! Contact us to get started today.
Go ahead... We're listening!
David Collins - Real Estate Broker & Auctioneer
MLS Brokerage #364 - Real Estate Firm #265789 - P.A.L. #4465
MLS #364 - Firm #265789 - P.A.L. #4465
The Tri-Cities' premier Real Estate Firm & Auction Management Company. Serving the Appalachian Highlands Region of East Tennessee since 1990.
CONTACT US
Real Estate Office:
Auction Office:
Real Estate Office:
Auction Office:
Site Powered by