Market Report for November 2018

Sevier County Market Report for November 2018

Sevier County Homes

Market Report for November 2018

 

1945 homes sold in Sevier County from January to November in 2018.
2016 homes sold in 2017.
Sales are down 4%.
Average price has increased by 11% and is up by $26,000.
Average price is $258,661.Available Inventory is down 11%, but Volume up by 8%.

Check out the average price growth over the last few months!

Average Sales Price November 2018

Gatlinburg

324 homes sold in Gatlinburg from January to November in 2018.
280 homes sold in 2017.
Sales are up by 16%.
Average price has increased by 13% and is up by $30,000.
Average price is $257,483.
Available Inventory is down 3%, and Volume up by 31%.

Pigeon Forge

370 homes sold in Pigeon Forge from January to November in 2018.
371 homes sold in 2017.
Sales are flat.
Average price has increased by 18% and is up by $43,000.
Average price is $286,355.
Available Inventory is down 16%, and Volume up by 15%.

Sevierville

574 homes sold in Sevierville from January to November in 2018.
588 homes sold in 2017.
Sales are down 2%.
Average price has increased by 17% and is up by $37,000.
Average price is $252,561.
Available Inventory is down 13%,  and Volume up by 14%.

Douglas Lake

58 homes sold on Douglas Lake from January to November in 2018.
61 homes sold in 2017.
Sales are down 5%.
Average price has increased by 6%, and is up by $19,000.
Average price is $313,201.
Available Inventory is down 11%, and Volume up by 1%.

Wears Valley

130 homes sold in Wears Valley from January to November in 2018.
161 homes sold in 2017.
Sales are down 19%.
Average price has increased by 10% and is up by $28,000.
Average price is $310,386.
Available Inventory is down 23%, and Volume down by 11%.

Seymour

149 homes sold in Seymour from January to November in 2018.
150 homes sold in 2017.
Sales are down by 1%.
Average price has increased by 8% and is up by $15,000.
Average price is $210,932.
Available Inventory is up 2%, and Volume up by 7%

If you liked the Sevier County Market Report for November 2018 check out the previous months here.

 

Sevier County Lots

November Market Report Land

499 lots sold in Sevier County from January to November in 2018.
492 lots sold in 2017.
Sales are up by 1%.
Average price has increased by 9% and is up by $4,000.
Average price is $51,739.
Available Inventory is down 2%, and Volume up by 11%.

Gatlinburg

95 lots sold in Gatlinburg from January to November in 2018.
113 lots sold in 2017.
Sales are down 16%.
Average price has increased by 9% and is up by $3,000.
Average price is $40,564.
Available Inventory is up by 8%, and Volume down by 9%.

Chalet Village

37 lots sold in Chalet Village from January to November in 2018.
32 lots sold in 2017.
Sales are up 16%.
Average price has increased by 6% and is up by $2,000.
Average price is $48,881.
Available Inventory is up by 8%, and Volume up by 23%.

Pigeon Forge

56 lots sold in Pigeon Forge from January to November in 2018.
41 lots sold in 2017.
Sales are up 37%.
Average price has decreased by 43% and is down by $33,000.
Average price is $43,976.
Available Inventory is down 2%, and Volume down by 22%.

Sevierville

111 lots sold in Sevierville from January to November in 2018.
106 lots sold in 2017.
Sales are up 5%.
Average price has decreased by 3% and is down by $2,000.
Average price is $48,812.
Available Inventory is down by 1%, and Volume up by 1%.

Douglas Lake

26 lots sold on Douglas Lake from January to November in 2018.
15 lots sold in 2017.
Sales are up 73%.
Average price has increased by 90% and is up by $55,000.
Average price is $116,323.
Available Inventory is up 1%, but Volume up by 229%.

Wears Valley

49 lots sold in Wears Valley from January to November in 2018.
58 lots sold in 2017.
Sales are down 16%.
Average price has increased by 37% and is up by $18,000.
Average price is $65,344.
Available Inventory is down 9%, and Volume up by 16%

You can find previous Market Reports here.

Sevier County Market Report for October 2018

Sevier County Market Report for October 2018

Sevier County Market Report for October 2018

Sevier County Homes

1772 homes sold in Sevier County from January to October in 2018.
1858 homes sold in 2017.
Sales are down 5%.
Average price has increased by 12% and is up by $26,000.
Average price is $256,529.
Available Inventory is down 12%, but Volume up by 6%.

Check out the average price growth over the last few months!

Sevier County Market Report - October 2018 Average Sales Price graph

Gatlinburg

291 homes sold in Gatlinburg from January to October in 2018.
262 homes sold in 2017.
Sales are up by 11%.
Average price has increased by 17% and is up by $37,000.
Average price is $254,547.
Available Inventory is down 2%, and Volume up by 30%.

Pigeon Forge

333 homes sold in Pigeon Forge from January to October in 2018.
340 homes sold in 2017.
Sales are down 2%.
Average price has increased by 18% and is up by $43,000.
Average price is $287,685.
Available Inventory is down 18%, and Volume up by 15%.

Sevierville

529 homes sold in Sevierville from January to October in 2018.
540 homes sold in 2017.
Sales are down 2%.
Average price has increased by 15% and is up by $33,000.
Average price is $248,704.
Available Inventory is down 14%,  and Volume up by 13%.

Douglas Lake

51 homes sold on Douglas Lake from January to October in 2018.
56 homes sold in 2017.
Sales are down 9%.
Average price has decreased by less than 1%, and is down by $900
Average price is $288,758.
Available Inventory is down 11%, and Volume down by 9%.

Wears Valley

121 homes sold in Wears Valley from January to October in 2018.
150 homes sold in 2017.
Sales are down 19%.
Average price has increased by 8% and is up by $23,000.
Average price is $309,510.
Available Inventory is down 21%, and Volume down by 13%.

Seymour

139 homes sold in Seymour from January to October in 2018.
135 homes sold in 2017.
Sales are up 3%.
Average price has increased by 7% and is up by $13,000.
Average price is $210,000.
Available Inventory is up 1%, and Volume up by 10%

 

If you liked the Sevier County Market Report for October 2018 check out the previous months here.

Second Home FAQ

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Thinking of financing a second home or investment property in the Smokies? Here are some of the most frequently asked questions from our buyers purchasing their first vacation home:

1. What is the minimum amount I can put down?

For second home properties, our buyers can put as little as 10% down. If you are putting less than 20% down, there will be private mortgage insurance included in your monthly payment until your loan balance reaches 80% of the home’s original value. As of October 2018, the rates for mortgage insurance have remained as low as .30% annually (or $75/month for a $300k loan amount) for borrowers with good credit. Investment property loans require at least 15% down.

2. What do rates look like?

Like all correspondent lenders, we get new rates sheets every day when the market opens. We start with the base rate and add adjustments for loan size, loan term, down payment, and credit score when calculating a client’s rate. The good news is, at MIG the adjustments are the same for a second home as they are for a primary residence. Higher rates apply for investment property loans.

3. If rates are higher, why would I use the investment property product? What’s the difference?

Certain buyers are better suited for an investment product. This might include someone who:
* Requires future rental income from the property he or she is purchasing to qualify for the loan
* Already owns a second home in the Smokies
* Has no intention of using the home for personal use (this would include renting the property out on a long-term lease)
* Intends to use a property management company that will not give the owner control of when they can stay in the home.

4. Can I do overnight rentals if I use second home financing?

Yes! Just make sure that you maintain the ability to block out time for personal use. Black-out dates for peak seasons and holidays are a deal breaker.

5. I have decided that the second home product is best for me, but I noticed that my seller included language in our sales contract requiring me to use a specific management company. Will that cause any problems with my loan?

It could! If that language is present we will be required to review the management company’s contract to determine that you will be able to use the home for personal use at your discretion per second home guidelines.

6. What’s the minimum credit score needed to qualify?

The minimum credit score for investment and second home purchases is 620. If you are unsure of where you stand, give us a call and we can go over this with you. If you are short of qualifying, we may be able to increase your score within 7 business days!

7. Ok, I’m pre-qualified and I found my dream house. When can we close?

You and your seller will negotiate a closing date at the time your sales contract is signed, but most purchase and sale agreements set closing for about a month after the contract is bound. This allows time for you to collect and submit your credit documentation to us, the appraisal to be completed, and for title work to be completed.

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Market Report for September 2018 – Sevier County

Below you will find the Sevier County Market Report for September 2018. 

 

Market Report for September 2018 - Sevier County

 

Sevier County Homes

1516 homes sold in Sevier County from January to September in 2018.
1808 homes sold in 2017.
Sales are down 16%.
Average price has increased by 9% and is up by $21,000.
Average price is $250,448.
Available Inventory is down 19%, but Volume only down by 8%.

Gatlinburg

253 homes sold in Gatlinburg from January to September in 2018.
262 homes sold in 2017.
Sales are down by 3%.
Average price has increased by 16% and is up by $34,000.
Average price is $251,510.
Available Inventory is down 10%, and Volume up by 12%.

Pigeon Forge

284 homes sold in Pigeon Forge from January to September in 2018.
311 homes sold in 2017.
Sales are down 14%.
Average price has increased by 13% and is up by $30,000.
Average price is $265,040.
Available Inventory is down 23%, and Volume down by 3%.

Sevierville

452 homes sold in Sevierville from January to September in 2018.
521 homes sold in 2017.
Sales are down 13%.
Average price has increased by 14% and is up by $29,000.
Average price is $244,366.
Available Inventory is down 20%, but Volume down by only 2%.

Douglas Lake

49 homes sold in Sevierville from January to September in 2018.
56 homes sold in 2017.
Sales are down 12%.
Average price has decreased by 4% and is down by $10,000.
Average price is $279,319.
Available Inventory is down 13%, and Volume down by 16%.

Wears Valley

101 homes sold in Wears Valley from January to September in 2018.
150 homes sold in 2017.
Sales are down 33%.
Average price has increased by 8% and is up by $21,000.
Average price is $307,138.
Available Inventory is down 29%, and Volume down by 28%.

Seymour

129 homes sold in Seymour from January to September in 2018.
179 homes sold in 2017.
Sales are up 2%.
Average price has increased by 7% and is up by $13,000.
Average price is $212,430.
Available Inventory is down 5%, and Volume up by 9%

 

Market Report for September 2018 - Sevier County

Sevier County Lots

365 lots sold in Sevier County from January to September in 2018.
398 lots sold in 2017.
Sales are down by 8%.
Average price has increased by 12% and is up by $4,000.
Average price is $45,765.
Available Inventory is down 7%, and Volume up by 3%.

Gatlinburg

69 lots sold in Gatlinburg from January to September in 2018.
103 lots sold in 2017.
Sales are down 33%.
Average price has increased by 12% and is up by $4,000.
Average price is $39,849.
Available Inventory is down by 2%, and Volume down by 25%.

Chalet Village

28 lots sold in Chalet Village from January to September in 2018.
29 lots sold in 2017.
Sales are down 3%.
Average price has increased by 26% and is up by $11,000.
Average price is $55,539.
Available Inventory is up by 7%, and Volume up by 22%.

Pigeon Forge

51 lots sold in Pigeon Forge from January to September in 2018.
37 lots sold in 2017.
Sales are up 38%.
Average price has decreased by 29% and is down by $17,000.
Average price is $42,523.
Available Inventory is down 4%, and Volume down by 2%.

Sevierville

84 lots sold in Sevierville from January to September in 2018.
82 lots sold in 2017.
Sales are up 2%.
Average price has increased by 16% and is up by $5,000.
Average price is $39,390.
Available Inventory is down by 2%, and Volume up by 19%.

Douglas Lake

21 lots sold on Douglas Lake from January to September in 2018.
13 lots sold in 2017.
Sales are up 62%.
Average price has increased by 65% and is up by $38,000.
Average price is $97,995.
Available Inventory is down 1%, but Volume up by 166%.

Wears Valley

29 lots sold in Wears Valley from January to September in 2018.
46 lots sold in 2017.
Sales are down 37%.
Average price has increased by 6% and is up by $2,000.
Average price is $46,496.
Available Inventory is down 19%, and Volume down by 33%

 

You can find previous Market Reports here.

Market Report for August 2018 – Sevier County

 

 

Below you will find the Sevier County Market Report for August 2018.

 

 

Market Report for August 2018- Homes

 

Sevier County

1382 homes sold in Sevier County from January to August in 2018.
1619 homes sold in 2017.
Sales are down 15%.
Average price has increased by 8% and is up by $19,000.
Average price is $248,780.
Available Inventory is down 20%, but Volume only down by 7%.

 

Gatlinburg

241 homes sold in Gatlinburg from January to August in 2018.
238 homes sold in 2017.
Sales are up 1%.
Average price has increased by 15% and is up by $33,000.
Average price is $251,436
Available Inventory is down 10%, and Volume up by 17%.

 

Pigeon Forge

260 homes sold in Pigeon Forge from January to August in 2018.
284 homes sold in 2017.
Sales are down 8%.
Average price has increased by 11% and is up by $25,000.
Average price is $259,638.
Available Inventory is down 26%, and Volume up by 1%.

 

Sevierville

407 homes sold in Sevierville from January to August in 2018.
472 homes sold in 2017.
Sales are down 14%.
Average price has increased by 12% and is up by $25,000.
Average price is $243,025
Available Inventory is down 21%, but Volume down by only 4%.

 

Douglas Lake

43 homes sold in Sevierville from January to August in 2018.
48 homes sold in 2017.
Sales are down 10%.
Average price has decreased by 10% and is down by $31,000.
Average price is $271,580.
Available Inventory is down 14%, and Volume down by 20%.

Wears Valley

92 homes sold in Wears Valley from January to August in 2018.
138 homes sold in 2017.
Sales are down 33%.
Average price has increased by 6% and is up by $16,000.
Average price is $304,385.
Available Inventory is down 30%, and Volume down by the same.

 

Seymour

112 homes sold in Seymour from January to August in 2018.
110 homes sold in 2017.
Sales are up 2%.
Average price has increased by 6% and is up by $12,000.
Average price is $208,182.
Available Inventory is down 7%, and Volume up by 8%

 

Market Report for August 2018 - Lots

 

Sevier County

323 lots sold in Sevier County from January to August in 2018.
364 lots sold in 2017.
Sales are down by 11%.
Average price has increased by 11% and is up by $4,000.
Average price is $45,645.
Available Inventory is down 7%, and Volume down by 2%.

 

Gatlinburg

62 lots sold in Gatlinburg from January to August in 2018.
95 lots sold in 2017.
Sales are down 35%.
Average price has increased by 7% and is up by $2000.
Average price is $37,672.
Available Inventory is down by 1%, and Volume down by 30%.

Chalet Village

27 lots sold in Chalet Village from January to August in 2018.
24 lots sold in 2017.
Sales are up 12%.
Average price has increased by 46% and is up by $17,000.
Average price is $56,855.
Available Inventory is up by 6%, and Volume up by 64%.

Pigeon Forge

48 lots sold in Pigeon Forge from January to August in 2018.
37 lots sold in 2017.
Sales are up 30%.
Average price has decreased by 26% and is down by $15,000.
Average price is $44,379.
Available Inventory is down 4%, and Volume down by the same.

 

Sevierville

75 lots sold in Sevierville from January to August in 2018.
72 lots sold in 2017.
Sales are up 4%.
Average price has increased by 9% and is up by $3,000.
Average price is $39,417.
Available Inventory is up by 1%, and Volume up by 14%.

Douglas Lake 

16 lots sold on Douglas Lake from January to August in 2018.
13 lots sold in 2017.
Sales are up 23%.
Average price has increased by 74% and is up by $44,000.
Average price is $103,618.
Available Inventory is down 3%, but Volume up by 115%.

Wears Valley

24 lots sold in Wears Valley from January to August in 2018.
41 lots sold in 2017.
Sales are down 41%.
Average price has increased by 9% and is up by $3,000.
Average price is $47,433
Available Inventory is down 17%, and Volume down by 36%.

 

Check out previous Market Reports here.

Fun in the Fall!

Fun in the Fall

Hey ya’ll

The weather here the last few days has us dreaming of color changing leaves, cool weather, and pumpkin spice everything!

We were thinking about all the ways you can have fun in the fall in the Smokies and wanted to share a few with you!

Fun in the Fall in September

September 7th through November 25th – Smoky Mountain Harvest Festival 

Gatlinburg is rolling out all the stops with NEW seasonal decorations. Gatlinburg Harvest Festival will feature over the top fall decorations including new life-size, 3-dimensional Scarecrow people.

“We could not live in a more picturesque area for viewing Fall color,” says Mark Adams, Gatlinburg CVB CEO/President. “We want to capitalize on the seasonal beauty by extending our Harvest Festival to the end of November thus giving visitors more opportunities to experience Autumn in the Smokies.”

September 13th – Taste of Autumn

Gatlinburg’s annual Taste of Autumn will feature amazing music from one of America’s finest and most recognized Beatles tribute bands, Abbey Road Live! The evening’s entertainment will start off with the musical performance of Cannon Creek. Cannon Creek plays a variety of traditional, progressive and contemporary Bluegrass.

Tickets are on sale now!

Abbey Road LIVE! is not your typical Beatle look-alike tribute act; don’t expect mop-top haircuts and vintage Rickenbacker guitars. Rather, this show is about bringing to life some of the more mature and complex Beatles material in a raw & spirited fashion, while remaining true to the original recordings.”

September 21st through October 28th – OctOBERfest

OktOBERfest returns to its Gatlinburg-style roots with 38 days of merrymaking from September 21 through October 28, 2018 as the resort commemorates the 207th anniversary of the popular festival held in Munich, Germany. The Bavarian Fun Makers Band will perform traditional Bavarian folk dances, sing-a-longs, yodels and more! Special Oktoberfest Biers will be served along with traditional German wurst, schnitzel, sauerkraut, strudel, pretzels and more.

Fun in the Fall in October

October 4th through the 21st – Gatlinburg Craftmen’s Fair

From October 4 through 21, the Gatlinburg Convention Center blossoms into a multi-level mecca of the top craft people from all across the United States. A unique characteristic of the Gatlinburg Craftsmen’s Fair is the fact that artisans not only make their art available for viewing and sale, but also demonstrate their special talents and skills during this show,.

Tentative hours are 10 a.m. to 6 p.m. daily, 10 a.m. to 5 p.m. on Sundays. Music shows are scheduled at 12, 2 and 4 p.m. daily, 12 and 2 p.m. on Sundays.

Fun in the Fall in November

November 7th – Chili Cookoff

Offering mouth-watering recipes of homemade chili ranging from mild and delightful to wild and adventurous, the City of Gatlinburg hosts its annual Chili Cookoff on Wednesday, Nov. 7 from 5 to 8 p.m. in downtown.  Festival-goers will enjoy free, live entertainment offered throughout the event.

 

 

Sevier County Market Report – July 2018

Sevier County Market Report – July 2018

Homes

July Market Report - Homes

Sevier County

1164 homes sold in Sevier County from January to July of 2018.
1452 homes sold in 2017.
Sales are down 20%.

Average price has increased by 7% and is up by $15,000.
Average price is $243,871.

Available Inventory is down 24%, but Volume only down by 14%.

Gatlinburg

206 homes sold in Gatlinburg from January to July of 2018.
219 homes sold in 2017.
Sales are down 6%.

Average price has increased by 12% and is up by $26,000.
Average price is $246,095
Available Inventory is down 12%, and Volume up by 6%.

Pigeon Forge

224 homes sold in Pigeon Forge from January to July of 2018.
251 homes sold in 2017.
Sales are down 11%.

Average price has increased by 11% and is up by $25,000.
Average price is $256,755.
Available Inventory is down 28%, but Volume only down by 1%.

Sevierville

341 homes sold in Sevierville from January to July of 2018.
425 homes sold in 2017.
Sales are down 20%.

Average price has increased by 10% and is up by $22,000.
Average price is $241,557.
Available Inventory is down 25%, but Volume down by only 12%.

Douglas Lake

29 homes sold in Sevierville from January to July of 2018.
43 homes sold in 2017.
Sales are down 33%.

Average price has decreased by 18% and is down by $54,000.
Average price is $246,271.
Available Inventory is down 19%, and Volume down by 45%.

Wears Valley

72 homes sold in Wears Valley from January to July of 2018.
123 homes sold in 2017.
Sales are down 41%.

Average price has increased by 9% and is up by $23,000.
Average price is $293,542.
Available Inventory is down 39%, and Volume down by 36%.

Seymour

98 homes sold in Seymour from January to July of 2018.
100 homes sold in 2017.

Sales are up 2%.
Average price has increased by 3% and is up by $6,000.
Average price is $204,253.
Available Inventory is down 10%, and Volume up by 1%

Lots 

July Market Report - Land

Sevier County

279 lots sold in Sevier County from January to July of 2018.
275 lots sold in 2017.
Sales are up 1%.
Average price has increased by 14% and is up by $5,000.
Average price is $43,391.

Available Inventory is down 4%, and Volume up by 16%.

Gatlinburg

55 lots sold in Gatlinburg from January to July of 2018.
70 lots sold in 2017.
Sales are down 21%.

Average price has decreased by 3% and is down by $1100.
Average price is $34,494.
Available Inventory is up by 2%, and Volume down by 24%.

Chalet Village

21 lots sold in Chalet Village from January to July of 2018.
20 lots sold in 2017.
Sales are up 5%.

Average price has increased by 27% and is up by $10,000.
Average price is $51,128.
Available Inventory is up by 7%, and Volume up by 33%.

Pigeon Forge

45 lots sold in Pigeon Forge from January to July of 2018.
31 lots sold in 2017.
Sales are up 45%.

Average price has increased by 8% and is up by $3,000.
Average price is $41,148.
Available Inventory is flat, and Volume up by 57%.

Sevierville

62 lots sold in Sevierville from January to July of 2018.
56 lots sold in 2017.
Sales are up 11%.

Average price has increased by 26% and is up by $8,000.
Average price is $42,443.
Available Inventory is up by 6%, and Volume up by 39%.

Douglas Lake 

14 lots sold on Douglas Lake from January to July of 2018.
10 lots sold in 2017.
Sales are up 40%.

Average price has increased by 66% and is up by $32,000.
Average price is $82,135.
Available Inventory is down 7%, but Volume up by 133%.

Wears Valley

21 lots sold in Wears Valley from January to July of 2018.
23 lots sold in 2017.
Sales are down 9%.

Average price has increased by 13% and is up by $5,000.
Average price is $49,709.
Available Inventory is down 11%, and Volume up by 3%.

To locate a market report for a prior period click here.

Drop a comment below if you found this information helpful, or if you have any suggestions!

Sevier County Property Tax Rate

Sevier County Property Tax Rate
We receive many questions regarding the Sevier County Property Tax Rate

The property tax rate is per $100 assessed value of the home. 

County tax for Sevier County is $1.54.
Sevierville is $0.31.
Pigeon Forge is $0.1242.
Gatlinburg is $0.1493, and
Pittman Center is .77.

The ratio of assessment is 25% for residential/rental property. This applies to owner occupied homes and second homes.  See the examples below for a home assessed at $100,000 and $250,000.

 

Sevier County: $1.86 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $1.86 = $465.00 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $1.86 = $1162.50 paid per year

Sevierville: $.85 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.85 = $212.50 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.85 = $531.25 paid per year

Pigeon Forge: $0.20 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.20 = $50.00 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.20 = $125.00 paid per year

Gatlinburg: $$0.1592 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $0.1592 = $39.80 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $0.1592 = $99.50 paid per year

Pittman Center: $.85 per $100 assessed value:
$100,000 Home     25% of $100,000 = $25,000 x $.85 = $212.50 paid per year
$250,000 Home     25% of $250,000 = $62,500 x $.85 = $531.25 paid per year

There is no Income Tax.

Sales Tax in Tennessee is 7%.  Sevier County sales tax is 2.75%. For a total of 9.75% in sales tax in Sevier County. 

 

Many visitors to our area find our property taxes very reasonable. The influx of visitors provide a revenue stream that assist in cost sharing to developing the area.  This helps to keep costs lower for residents.

If you are interested in relocating, or owning investment property that keeps you coming back with tax incentives, then check out the Jason White Team website.  You set your own search criteria and view only those properties that fit your criteria. When it is time to take a personal look, our team of property professionals are here to assist you.  Contact us today to begin your Smoky Mountain property acquisition.

Sevier County Market Report – June 2018

Sevier County Market Report

Sevier County Market Report

 

Sevier County

998 homes sold in Sevier County from January to June of 2018. 1120 homes sold in 2017. Sales are down 11%.

Average price has increase by 7% and is up by $15,000. Average price is $245,574.

Available Inventory is down 17%, but Volume only down by 5%.

 

Gatlinburg

177 homes sold in Gatlinburg from January to June of 2018. 169 homes sold in 2017. Sales are up 5%.

Average price has increase by 10% and is up by $22,000. Average price is $247,943.

Available Inventory is down 1%, but Volume up by 15%.

 

Pigeon Forge

192 homes sold in Pigeon Forge from January to June of 2018. 206 homes sold in 2017. Sales are down 7%.

Average price has increase by 9% and is up by $20,000. Average price is $261,637.

Available Inventory is down 23%, but Volume up by 1%.

 

Sevierville

301 homes sold in Sevierville from January to June of 2018. 328 homes sold in 2017. Sales are down 8%.

Average price has increase by 11% and is up by $24,000. Average price is $243,382.

Available Inventory is down 18%, but Volume up by 2%.

 

Wears Valley

61 homes sold in Wears Valley from January to June of 2018. 83 homes sold in 2017. Sales are down 27%.

Average price has increase by 10% and is up by $27,000. Average price is $291,193.

Available Inventory is down 32%, and Volume down by 19%.

 

Seymour

75 homes sold in Seymour from January to June of 2018. 74 homes sold in 2017. Sales are up 1%.

Average price has increase by 10% and is up by $18,000. Average price is $211,113.

Available Inventory is even, and Volume up by 11%

 

Previous market reports can be found here.

Drop a comment below if you enjoy having the statistical data from the Sevier County Market Report laid out in this easy to read fashion!

 

Purchasing Land? Things to Consider

Purchasing Land - Things to Consider

 

We’ve created a list of six things to consider while purchasing land. This list is not all encompassing but is a great start to your research.

Zoning

A quick internet search should result with the city or county’s zoning regulations. Pay special attention to reference the most updated regulations as they are subject to change. You can find Sevier County’s zoning regulations here.

Restrictions

You will find restrictions in the legal description of the deed. These may either be in the body of the deed or attach as an appendix. Reach out to the county clerks office to access a copy of the deed. Some offices have online services.

Easements

To determine if their are any utilities easements you can contact the utility companies; electric, gas, and telephone. A survey will also show utility easements. You can find property easements on file at the local assessor’s office.

Access to Utilities

To confirm if you have access to city water or sewage, contact the city’s utility department. You can find information about utility access for land in Gatlinburg here. If you do not have access to city water or sewage, you will need to have a septic system installed and a well drilled to develop your land. We found this website to be a great resource for understanding the process of having a well installed. To install a septic system you must complete environmental testing.

Survey or Environmental Testing

You will need a survey to determine the definite parameters of the land you are purchasing. A survey will show utility easements. If you need to install a septic system a percolation test will be conducted.

Taxes

Here you will find explanation about how to figure your tax bill in Tennessee from the Comptroller of the Treasury. To determine your tax liability you will need the appraised value, assessment ratio, assessed value, and the tax rate for your area

We hope you found this information helpful as you consider purchasing land. Please, visit our website to find lots and land listed in Sevier County, TN!