With 11 Months Gone, Where Do We Stand With Smoky Mountain Real Estate?

We now have 11/12ths of 2009 recorded as history, so it’s time to see where we stand on real estate in the Great Smoky Mountains.  In a month to month comparison of November 2008 versus November 2009 we see a mixed bag of results.  November ’09 saw 114 residences sold opposed to 67 in November last year. That gives us 47 more.  Certainly a spectacular increase.

Quantity of Homes Sold 

In total residence volume sold the past month checked in at $18,800,425. That contrasts last November at $12,779,030. The difference is $6,021,395 or 47% improvement in 2009.  Again, a substantial gain in ’09.

Dollar Volume Sold

 In the category of average price per residence sold 2009 comes in at $164,916, where 2008’s average residence sold was $190,732.  The difference is $25,816 or 14% less per residence sold in 2009 over 2008.

Average Sale Price 

In active residential listings 2009 again emerges victoriously with 4,087 listings vs. 3,429 in November 2008.  The difference is 658 or 19% more active listings in 2009 over 2008.

Quantity of Active Homes

Figures for Jan 2008-Nov 2008  vs.  Jan 2009-Nov 2009

Major trends are easier to see when viewed from a greater time span.  To look back at 2009 with only 1 month left we will compare year-to-date figures with similar time frames in 2008.  1/1/09 thru 11/30/09 has witnessed 1,290 residences sold.  This same time frame in 2008 saw 1,309 units sold or a difference of 19 less in 2009 or 1% difference.  In the category of total volume sold, 2009 had $231,031,528 in residential volume against $252,417,644 in 2008.  The current year is off $21,386,116 or 8% down.  Average price per residence sold is 2009 at $179,094 vs. $192,832 (in 2008) or currently $13,738 less or 7% off.  Current YTD active listings are 8,121 vs ’08 at 6,932.  2009 is 1,189 higher or 17% more.

These figures may reveal some trend activity prevalent in the Great Smoky Mountains real estate. It appears that the stimulus package for new home buyers with the new home buyer tax credit is working. The lower price per residence indicates that new homebuyers are a dominant force in the current residential real estate market. Their influence in purchasing lower priced residences is evident. It appears the national stimulus package in real estate is keeping the market active. For qualified residential homebuyers, this is a great time to purchase a home. Inventories of residences are abundant, so there are multiple options to choose. Real estate mortgage rates are quite low allowing great deals for qualified buyers. In either case, as a buyer or seller, this is a real estate market where you need professional expertise and knowledge of the local area. The Jason White Team is an ally to have on your side in today’s market. We are leaders in Gatlinburg home sales as well as other key areas of the Smokies real estate. Call or contact us online to let us help you find your property in the Smokies. Click here to view my featured listings.  To view all our local  listings click here.

                             Here Are a Couple of My Listings  

Surrounded By the Great Smoky Mountains!
Nothing has been spared in the design and construction of this magnificent 4BD/5.5BA luxury home located in prestigious Riversong subdivision in Gatlinburg.
Type: Single Family Home
Location: Sevierville,TN
Price: $799,900
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Incredible Smoky Mountain Home &Views !!
Prepare to be Awe Struck!! If views are what you are looking for this home is the one! The exquisite workmanship with 5 master suites and huge one of a kind recreation room make this a must see!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $899,900
Get more information >

 

 Call today for more information on either of these listings!  865-436-2121 – Ask for Jason or Stephanie

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