Steady Progress For The Gatlinburg Area Real Estate Market

National real estate news continues to report positive progress for real estate as a whole and the Smoky Mountain area is no exception. The statistics through August reflect the same steady progress that we have witnessed throughout the year and with more positive changes being put in to play, such as the new short sale guidelines we spoke about last week, we expect the trend to continue. Let’s take a look at the progress we have made so far in 2012.

In the category of Total Residences Sold we see an 18% increase over 2011. We would also like to point out that this is the highest number of single family homes sold in Sevier County since 2007.

The Total Dollar Volume Sold category shows almost $7,000,000 more real estate sold than last year. With mortgage interest rates so low buyers are very active in the market and homes are moving.

The Average Sold Price is still down however, we have maintained that as distressed properties are liquidated this will improve. The new guidelines for certain short sales that go in to place on November 1st will help move these properties along at a much more rapid pace.

Homes continue to spend less time on the market as buyers are ready willing and able to invest in real estate and sellers are taking advantage of the number of buyers in the market. Smoky Mountain properties are spending an average of 2 weeks less time on the market than they did in 2011.

We encourage those of you who have been dreaming of a home in the Smoky Mountains to take advantage of the current low interest rates and explore the wide variety of homes available in the area. If you are thinking of selling but were holding out for the right time, we are happy to provide you with a free market analysis to see what the current market value of your home may be. Our team is ready to help make your real estate goals a reality.

Here Are A Few Of My New And Reduced Listings:

Your Hillside Retreat Has produced over $27,000 in rental income for 2012 so far following great income history for both 2010 & 2011. This authentic log cabin sits atop the most beautiful lot in the subdivision. Type: Single Family Home Location: Pigeon Forge Price: $267,500 Get more information >

 

Picture Perfect Views Beautiful and private 2 acre site with postcard views. Literally, we have post cards from the 70’s that have the view from this home’s deck on them. A picture perfect view for sure. Type: Multi Family Home Location: Chalet Village Price: $422,500 Get more information >

 

Heirloom Quality Throughout Not often does a living piece of history come available for sale, perhaps once a generation. Such a time is this. Heirloom quality throughout this solidly built stone cottage boasts quality not often seen in homes built today. Type: Single Family Home Location: Pittman Center Price: $365,000 Get more information >

 

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