TRI-CITIES, Tenn./Va. (WJHL) — The Johnson City, Kingsport and Bristol metro areas returned to the top 15 in this fall season’s Wall Street Journal-Realtor.com emerging housing markets index.
The quarterly index puts Johnson City at 10th and Kingsport-Bristol at 11th for emerging housing markets.
This is the second straight time both areas made the top 20 on the index. Johnson City has now made the top 10 out of 300 markets seven times since the list first debuted in spring 2021.
In last quarter’s index released in July, the Bristol-Kingsport metro area was listed 10th, and this quarter, it’s placed 11th. The index shows that the median home listing price in Johnson City for Fall 2023 sits at $425,000, while the Kingsport-Bristol, Tn./Va. area is $325,000.
The WSJ/Realtor.com methodology breaks down into two broad categories of real estate market and economic health/quality of life. Sub-indicators include real estate demand, real estate supply and median listing price trend for real estate.
For economic and quality of life, the publication includes:
- Regional price parities
- Share of foreign-born
- Small businesses
- Amenities (measured by per capita “everyday splurge” stores)
- Estimated effective real estate taxes