BTVAR Homes Sales Report – Q1 2026
Market Activity: There was a lot of variability within the local markets this quarter. Regionwide, sales rose 4% in the BTVAR footprint, bringing the total to 141 closed sales in the region, five more than a year ago, representing the third consecutive quarter of growth. There was no change in the number of sales in Lee County and a modest one sale dip in Scott County, which may suggest a pullback in those markets. Wise County experienced a jump in sales activity (+43%) but sales fell for the seventh straight quarter in Bristol (-12%). Pending sales (new contracts) also increased this quarter with Wise County (+53%) and Scott County (+29%) outpacing the other local markets this quarter.
Price Trends: The median home price rose across much of the BTVAR footprint this quarter. After declining at the end of 2025, prices jumped 10% in the first quarter of 2026 with the median price of a home at $181,200 in the region, $16,200 higher than the year before. Most local markets experienced price growth, with Bristol City having a double-digit gain in the median sales price (+12%) this quarter. Lee County was the only area where median home price growth declined (-4%).
Inventory Conditions: The inventory of active listings dipped this quarter in the area. In the BTVAR market, there were 284 listings at the end of the first quarter, 44 fewer than the previous year, a 13% decrease. All local markets had fewer listings, indicating that a pull back in seller activity this quarter. The largest percentage decline occurred in Lee County (-24%). Listing levels in Bristol fell slightly (-3%) compared to the first quarter last year. Overall there was about 5.1 months of supply in the BTVAR market, which is 0.9 months less than a year ago.
Outlook: Market conditions in the region are pointing towards choppy spring market in 2026. Some local markets have momentum, while others had a slower first quarter. The pace of the spring market will be largely dependent on the direction of rates, and the availability of listings. Price points continue to trend higher in the region which is likely to be a factor heading into the late-spring market.
