37643
Johnson City, Tennessee

The 37643 ZIP code is experiencing a marked correction, with median sale prices at $240,950 after an 11.4% year-over-year decline. Homes are averaging 71 days on market, indicating softer demand than peak periods. Only 14% of properties sell above asking price, confirming that sellers have lost pricing power. This represents a fundamental shift from the aggressive bidding environment that characterized recent years, with inventory moving at a measured pace rather than being absorbed quickly.

Cost-conscious buyers gain leverage in this environment, particularly those willing to negotiate on the $240,950 median benchmark. The 71-day marketing period provides time for thorough due diligence without competitive pressure from multiple offers. Sellers with flexible timelines can still transact, but those requiring quick exits face challenges with only 14% of homes commanding premium pricing. Investors seeking cash flow over appreciation may find entry points, though the 11.4% depreciation demands careful underwriting of long-term value assumptions.

The PropIQ score of 55 signals continued caution, suggesting stabilization has not yet occurred in this submarket. The pricing trajectory and days-on-market metric warrant monitoring through Q2 2026 to identify whether depreciation is moderating or accelerating. Transaction velocity remains the critical variable—if DOM extends beyond 80 days while prices continue declining, further correction becomes probable. Current conditions do not indicate imminent recovery without demand catalysts emerging in coming months.