In the 6.4% range, modest price gains are the 2025 outlook watchwords for the remodeling market.
According to Elizabethton Star, Remodeling gets a space of its own in the National Association of Realtors® (NAR) Remodeling Report. The segment on how much it fits into the $118,500 impact each home sale has on the overall economy is $5,460 per sale — 4.5% of the total. Obviously, that’s an average. And it likely understates the local effect. That’s due to the number of older homes in our region and the practice of new owners who upgrade immediately, or soon after, the property closes.
The median age of homes in each of the region’s counties sheds some light on the urge to remodel. According to the Census Bureau, here’s the median age for homes in each of the region’s counties: Carter – 47; Greene – 41; Hawkins – 40; Johnson – 44; Sullivan – 48; Unicoi – 48; Washington, Tenn. – 43; Scott County, Va. – 50; and Washington County, Va. – 43.
