Throughout 2014 to date, we have seen the local and national real estate markets reflecting largely steady growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through September of 2014, we will see that such trends, particularly in the Great Smoky Mountains real estate market, continue to largely show the same general trends of slow & steady growth that we are also seeing nationally. Let’s now see what the numbers have to say for September of 2014, as compared to those one year ago, in September of 2013.
In the category of Residences Sold, we see that in comparing September of 2014 to that of September of 2013, the number of residences sold actually declined slightly by 3% in terms of homes being sold, as there were 37 fewer homes that were sold as of the end of September of 2014, as opposed to September of 2013. While this does reflect a departure from the largely prevailing trend of increased home sales in the last several months, this also could indicate that with declining inventory, which has been the case for the last couple of months here in the local market, people are still looking for properties to buy and purchase on the open market. While it is way too early to say if such a downward trend will continue, this category certainly bears watching to see if these statistics will change, or reverse themselves entirely, as we continue to head into the Fall and Winter months of 2014.
In the category of Residential Dollar Volume from September of 2014, as opposed to September of 2013, we see an increase of 6% in terms of dollar volume through September of 2014, as compared to September of 2013, which is slightly down from last month’s increase of 9%, but continues to reflect a general upward trend in terms of Residential Dollar Volume throughout 2014 to date. This shows a continued local, as well as national, trend of relatively steady growth in terms of this category, possibly continuing to reflect the higher home prices that have been taking place for over a year or so now on a national scale.
There is also continued good news for sellers in the Average Sold Price Category. For September of 2014, as compared to that of September of 2013, average sold prices show an increase of 8%, which is a decrease of 1% from that of last month, reflecting a continued trend of gradually higher average home prices on both the local & national levels, and remaining largely constant for the past year or so. As confidence continues to slowly grow in both the local and national markets, we foresee that this relatively steady trend of higher home prices will likely continue for at least the short-term horizon, if not longer.
In addition, available homes on the market are continuing to show a slight decrease, which has also happened over the last couple of months, as well. Through September of 2014, as opposed to September of 2013, the number of available homes did decline by 1%, or reflects a decrease of 70 homes in terms of available inventory, which is one of the larger declines of available inventory seen in at least the last couple of months locally. This actually is still largely in line with the latest national real estate trends, which also shows a small decline in available home inventory on the whole. However, despite this decline in inventory, it remains unknown if this decreasing trend in available inventory will continue, but this trend certainly also bears watching to see if it will, in fact, continue.
As markets continue these gradual trends of growth locally and nationally, these statistics are largely expected to remain largely steady at least for the short-term, largely continuing the same continued slow, but steady, growth that has been shown for over the last year or so. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountains real estate market. Why not start your Great Smoky Mountains home search today by browsing our Featured Properties, and seeing what the Smoky Mountains area has to offer for you today? You can also “Like” us on our Facebook page, or you can browse our team website further, to learn about The Jason White Team! Let us help you make your home ownership dreams a reality today!
Here Are A Few of My Featured Properties:
Private, Spacious, 3 BD/3 BA Mountain Chalet Located Only Blocks from Ober Gatlinburg – New Listing! Has made over $31K in rental income since October 2013! This rustic-style home includes a Large Great Rm, a Large Lower Level Den/Rec Rm, 2 masonry gas F/P’s, partial mtn. views (esp. during fall & winter), & is set in a beautiful, private wooded setting. Only mins. to dwtn. Gatlinburg, Ober Gatlinburg, the Nat’l Park, & the attractions; a great, rustic-style home in a great location – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $207,000 For more information >
Private, Well-Located 2 BD/2.5 BA Cottage-Style Chalet Only 5 Mins. to Dwtn. Gatlinburg – New Listing! Has great potential as a permanent or 2nd home, or as an overnight rental! Home has great mtn. views (esp. fall & winter), along w/2 deck levels, a surfaced private drive, easy access to city-maintained roads & services, & much more! Home also includes a Large Great Rm, is entirely at grade, & borders the Nat’l Park. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions; great home w/lots of potential, w/in 5 mins. to dwtn. Gatlinburg – come see it! Type: Single-Family Home Location: Gatlinburg, TN Price: $99,900 For more information >
Private, 2 BD/2 BA Home Within Walking Distance to Dwtn. Gatlinburg – Featured Listing! Good potential as a permanent or 2nd home, or as an overnight rental! Home has a wraparound deck on the front & side, w/living rm w/a masonry, woodburning F/P, & both BD’s on the 2nd floor for maximum privacy. Located off a private drive, & in a wooded setting, but is only mins. away from dwtn. Gatlinburg & City Trolley stops. Well-built & in excellent condition – great location! Type: Single-Family Home Location: Gatlinburg, TN Price: $189,900 For more information >
The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227