August 2010 Residential Sales for Gatlinburg Homes and Other Tennessee Smoky Mountain Communities

August 2010 figures are available for Gatlinburg properties and other communities that make up the Great Smoky Mountains Association of Realtors.  This data can be helpful in spotting trends.  It can also be good in timing when to list, or purchase property.  The examination of August 2010 residential sales begins with the comparision of residences sold. 

Last August (2009) there were 136 residences sold.  Residential sales include; single family, townhouses, condo’s, and co-ops.  August of 2010 dropped 14, to 122 residences sold or 10% off the 2009 August Figures.

In the category of dollar volume sold, August 2010 came in at $22,275,984.00.  This compares to August of 2009 at $22,662,581.00 or less by 2% (down $386,597.00). 

Comparison of average cost of residence sold, favors August of 2010.  August 2010 comes in at $182,590.00 vs $166,637.00 for August of 2009.  This year’s August is up by $15,953.00 or 10% higher.

Active listings sees August of 2010 also leading at 4,083 or 596 more (17% increase).

Long term analysis is needed for accurately determining market trends.  However, some of this market data can be helpful.  Total residences sold, dollar volume sold, and average price per residence sold, may all be sorting out , after the impact of the federal stimulus ended.  Intervention by congress tends to muddy up the waters of the market.  It can take some time for true market trends to clearly reveal themselves, after an artificial stimulus ends.  Data suggests that the first-time homebuyer tax credit certainly fired up the lower-priced entry level of the residential market.  Number of homes sold, total dollar volume, and average residential price were all influenced by the stimulus.  An accurate assessment may not be possible in these categories for some time.  It does appear, that even with the decrease in overall residences sold (off 10% in August 2009 vs 2010), the average residence sale price is increasing and total dollar volume sold is almost even.  Currently the high end of the residential market is not as active as the entry level.  Buyers appear to be more selective and not as frenzied, as they were before the market peak.  With mortgage interest  rates low, and active lisings up, this is a great time to find a dream property.  Prices appear to be stabilizing, yet they are off their peak.  You can test the market, searching out properties in your own free time 24/7. Simply go to our website, You can set up search criteria that exclusively pinpoints your own real estate needs.  This saves you time by providing only those properties that match what you desire.  It only takes a little investment of time to get started on your search.  Start today to find your Smokies dream property.

Here are a Few of My Current Listings:

Authentic Log Cabin/Great Rental Income
Authentic log cabin with fantastic rental history. 2 bedroom & bathroom suites each with total privacy.Amenities include game room,outdoor hot tub,on site pool and is located in the desirable Arts and Craft District to name a few.
Type: Single Family Home
Location: Gatlinburg,Tennessee
Price: $159,900
Get more information >
Pigeon River Right Outside Your Door!
This remodeled riverfront home is a sure to please. With the calming sounds of the Pigeon River right outside your door this completely remodeled home complete with sauna and hot tub are sure to take the stress away!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $329,900
Get more information >
11 Bedroom- Smoky Mountain Stunner!
This 11BD/11.5BA mountain top home is designed with hardwood floors, high quality furnishings and antique decor throughout. A stunning handcrafted cedar staircase, sunroom w/large swim spa, sauna, media room, over 2500 sq ft of decking to enjoy the view!
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $1,475,000
Get more information >
Spread the love