The Smoky Mountain Real Estate Market Holds Steady

 

 

The Road To RecoveryAn article on CNN Money this morning reports that mortgage rates for a 30 year fixed loan still hover near the record low set in November of 2012 at 3.35%. The 15 year rate fell to an all time low at 2.57%. These continued low rates are helping to push the real estate market into recovery. So far in 2013 we have seen mostly positive news both nationally and locally. As we look at the market statistics for the Smoky Mountain Region we see that the market is holding steady and still showing positive growth from last year.

In the first category of Residences Sold, we see a slight decline of 38 homes versus the same period last year.

Smoky Mountain Homes SoldIn Residential Volume Sold we see a 2% increase. Though the number of homes sold has slightly declined this number continues to stay positive as home prices are still showing an increase.

Total Dollar Volume Of Homes SoldThe Average Sold Price of Smoky Mountain Homes shows an increase of 12% versus last year. We believe this number will continue to improve as the market keeps growing.

Average Price Of Smoky Mountain HomesIn the final category of Available Homes we continue to see inventory decrease. April finished out with 181 or 6% less homes on the market than the same period last year. As this number continues to show a decrease it will contribute to helping prices rise.

Number Of Homes Available

There are still plenty of properties to choose from and though prices are rising they are still lower than when the market was at it’s prime. Now is the time to begin searching if you have ever thought of buying a get away or investment in the Smoky Mountains. We invite you to visit our new home search website and begin the process of finding the one that’s perfect for you.

Here Are A Few Of My Featured Listings:

Rustic Charm РModern Comfort Over $20,000 in rental income in both 2011 & 2012. This log cabin nicely displays a nice balance of rustic charm blended with modern comfort. It features true log construction with high ceilings and an open floor plan. Type: Single Family Home Location: Chalet Village Price: $139,900 Get more information >
Updated & Luxurious Move in ready, recently painted & in excellent condition. Lovely patios front & rear and lawn in back, extras such as dimmable lights, upgraded light fixtures, beautiful 18 heated tile in master bath & oak flooring make the home feel special. Type: Single Family Home Location: Sevierville,TN Price: $239,900 Get more information >
Top Of The Line РBorders National Park Tucked away on a HUGE wooded lot bordering the Great Smoky Mountains National Park this oasis of privacy offers top of the line stainless steel appliances, breakfast bar, hardwood floors and much more. Type: Single Family Home Location: Chalet Village Price: $369,900 Get more information >

 

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