- June's median sale price hit $308,750 — up 4.7% year-over-year, the fifth straight month of steady gains.
- 41% of June's sold listings cut their price before an offer came in — but a price cut isn't the discount buyers think it is.
- Where buyers actually save: seller concessions averaged $15,360 in June — and how to structure one beats waiting for a markdown.
- Concession caps by loan program — the numbers to know before your buyer's offer is written.
- Fun Fest Block Party weekend in Kingsport; the main festival runs July 18–26.
- Free for agents: the National Agent Mastermind is a week from Tuesday, July 21 — register below.
Tri-Cities Market Pulse
June's numbers are in, and the story is consistency. The regional median sale price reached $308,750, up 4.7% from a year ago — the fifth straight month of year-over-year gains landing inside a tight band between 4.5% and 5.6%. That's not a spike; that's steady demand meeting steady supply. Sales grew too: 812 homes closed in June, up 3.8%, and the first half of 2026 is running 8.3% ahead of last year at 4,115 closings.
Two things worth watching underneath the headline. New listings fell 4.6% in June — the only major category losing ground — and homes took 67 days to go under contract, up from 62 last June. More inventory on the market means buyers have more choice and take more time, even while the region moves more homes overall. At 3.75 months of supply, the Tri-Cities is still in seller's-market territory. (Full June report at donfenley.com →)
On rates: mortgage rates have stayed in a calm, narrow range this summer. If a buyer tells you they're waiting for something lower, the talking point that holds up is this — prices here haven't waited (see the five months above), and if rates do drop meaningfully, sidelined buyers tend to flood back at once and bid prices up. A lower rate next to a higher price is often the same payment with more competition.
Source: NETAR data reported by Don Fenley, CoreData (donfenley.com). Market analysis by Sam Timlick, mortgage loan officer in Johnson City, TN.
The Price Cut That Isn't a Discount
Here's the stat your buyers will bring to you this month: 41% of Tri-Cities listings that sold in June had cut their asking price before a single offer came in — the highest share in a year, up from 35.2% last June. National headlines are framing numbers like these as a buyer's discount. The local data says something narrower, and it's worth getting right before your next buyer consult.
A price cut is a markdown off the seller's own starting number, not off what the home is worth. When a June listing finally sold, it closed at 98.7% of its final asking price — nearly full price. The average concession at the table was $15,360, about 4.9% of list, and nearly one in five sales actually closed above asking. So the buyer who waited for the cut didn't beat the market; they waited for the seller to meet it.
(Don Fenley's full breakdown at donfenley.com →)
Mortgage Strategy: Ask for the Concession, Not the Cut
That's the practical flip side of the price-cut data above. Since most negotiating room in this market is thin — under 5% off final list on average — where your buyer takes that room matters more than how big it is. For a cash-tight buyer, moving the same dollars from the price to a concession is often the difference between "can't close" and "closed."
The caps to know before the offer is written: conventional loans allow seller contributions of 3% of the price with less than 10% down (6% with 10–25% down, 9% above that); FHA and USDA allow up to 6%; VA allows customary closing costs paid by the seller plus concessions up to 4%. Ask your lender to confirm the cap and the smartest use of the dollars — costs covered versus a rate buydown — while the offer is being structured, not after acceptance. That's exactly the kind of pre-offer call I'm glad to jump on; more on how I work with agents at samtimlick.com/for-agents.
Quick FAQ
Tri-Cities Weekend Events
🎉 Fun Fest Block Party weekend is on in Kingsport — the pre-kickoff block parties run through Sunday, July 12, and the main festival follows July 18–26 with 100+ events across 30+ locations. The Sunset Concert Series lands the week after next: Jeremy Camp with Katy Nichole on July 23, Daughtry with Switchfoot on July 24, and a Brothers Osborne + LeAnn Rimes double bill closing it out July 25. Full schedule at funfest.net — and plan showings around downtown Kingsport traffic accordingly.
🥕 Johnson City Farmers Market — Saturday morning, 8 AM to 1 PM at the downtown Pavilion. Fresh produce, local honey, handmade goods, and the best people-watching in town. If you've got buyers relocating to the area, it's a great "this is what Saturdays here feel like" stop after a morning of showings — details at johnsoncityfarmersmarket.net.
Free for Agents: National Agent Mastermind
A week from Tuesday: the National Agent Mastermind, the free monthly training session I sponsor for agents. This month it's Lister's Last: How to Outlast Any Market with Annie Cash — Tuesday, July 21 at 3:00 PM Eastern (12:00 PM Pacific) — on how top producers stay consistent and keep a referral-based business growing regardless of what the market's doing. If you haven't grabbed a spot yet, it takes about a minute.
Got Buyers Who Need Financing?
The best clients I've ever worked with came from someone saying, "you should call Sam." If you know someone buying a home — whether it's their first or their fifth, whether they're ready now or just starting to think about it — I'd be honored if you passed my name along. I'll treat them like family, and if you're the agent on the deal, I'll keep you in the loop the whole way.