November 2010 Update on Sales of Homes in Gatlinburg and the East Tennessee Smokies

Downtown Gatlinburg all dressed up for the Holidays

Smoky Mountain real estate typically slows down as people begin their cold weather, winter hibernation.  Much of the population’s buying focus, shifts into year-end gift purchases.  Previous blogs have explored the awesome savings that careful “Black Friday” style property purchases can yield.  The November 2010 data reinforces the opportunities available in today’s East Tennessee real estate market.  However, let’s explore the figures and then draw your own conclusions. 

The following material is available to members of the Great Smoky Mountains Association of Realtors.  My bias is to compare year-to-date figures from the previous year with year-to-date numbers of the current year.  This can reveal some present market trends.

Total Residence Sold  through November 30, 2010-  120 sold vs. through November 30, 2009-  139 sold. 2010 less 19 than 2009. Down -14%.

Residential Dollar Volume Sold through November 30, 2010-  $21,105,121.00 vs. Through November 30, 2009-  $22,929,426.00.  Summary: 2010: $1,824,305.00 less or down -8%.

 

Average Sale Price through November 30, 2010-  $175,876.00 vs. through November 30, 2009-  $164,960.00.  Summary 2010: Increase $10,916.00 or up +7%.

Quantity of Active Listings through November 30, 2010-  3,755 listings vs. through November 30, 2009-  3,295 listings.  Summary 2010: Increase of 460 listings or up +14%.

As my blog readers are advised, today’s real estate markets are anything, but  free market.  Current markets are still seeking equilibrium after massive government intervention.  The homebuyer tax credits skewed data toward the low-end, first-time buyer. What savy real estate buyers know, is the following facts.  Today’s market favors qualified buyers.  Active listings are up, so there is a great selection of properties.  Mortgage interest rates are still quite low to finance.  Prices are off their highs,and there is market price competition from discounted real estate like; foreclosures and short sales.  All of these factors stack the deck in favor of today’s real estate buyer.  If you want the year-end gift that provides a multitude of dividends, go online and start your Smokies property search today.  Our website and our people are geared to provide the results you seek.

Here are a Few of My Current Listings:

Fantastic Views With Great Rental Income
This unique one of a kind home is totally updated and is in excellent condition. The fantastic mountain view is enjoyed on the covered or sun decks. The level parking is an absolute bonus!
Type: Single Family Home
Location: Cobbly Nob
Price: $289,900
Get more information >
Spacious- Great For Entertaining!
Spacious with extraordinarily large deck to enjoy the beautiful mountain view. Fully furnished with tasteful furnishings and just around the corner from the Chalet Village Club House to enjoy swimming and tennis.
Type: Single Family Home
Location: Chalet Village
Price: $199,900
Get more information >
Great View Of Great Smoky Mountains
Live in the prestigious community of Riversong. With the Little Pigeon River close by to enjoy fishing and swimming. This private 1.26 acre property is a must see with wonderful mountain views and just around the corner from the Great Smoky Mountains.
Type: Single Family Home
Location: Pittman Center
Price: $359,900
Get more information >
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