It can be helpful when shopping for mountain homes, to evaluate sales figures year vs. year. Our blog for this week takes a look at sales data compiled by the Great Smoky Mountains Association of Realtors. Their figures compare January of 2010, to January of 2011 in residential sales. Please remember, that residential sales is made up of; single family homes, condominiums, townhouses, and co-ops. It is also important to factor in that January of 2010, home sales were activated by the federal home buyer stimulus program. So we are definitely not evaluating two free market time frames.
In the category of Total Residences Sold, January 2011 had 83 Residences Sold while January 2010 had 91. This current January had 8 less or a decrease of 9% from 2010.
In the category of Total Dollar Volume Sold, January 2011 had $14,493,030.00 sold, while January 2010 had $15,461,952.00 sold. Our current January was down $968,922.00 or a decrease of 6% from 2010.
In the category of Average Cost per Residence Sold, January 2011 had an average of $174,615.00, while January 2010 had an average of $169,912.00. January 2011 had a greater average price by $4,703.00 or 3% higher than 2010.
In the category of Active Listings, January 2011 has 3,369 listings, while January 2010 had 3,053 active listings. January of 2011 had 316 more active listings or 10% more.
As we mentioned before examining these categories of comparison, 2010 figures were definitely a reason to feel good. Our current year has no artificial stimulus driving sales or bringing buyers into the market to get a tax break. Even without the incentives, the numbers are less than 10% different. In addition, the average cost per residence sold is rising and there is an increase in active listings.
All of this shows that 2011 could be a good time to buy or sell a home. Sellers need to stage their homes and price them strategically to sell them quickly. Qualified buyers with pre-approved financing or cash buyers are definitely in a great position for today’s real estate market. If you are interested in property here in the East Tennessee Smokies, contact the Jason White Team at 877-678-2121. The Smoky Mountain Lifestyle website is dedicated to providing our clients with an ease of operation that caters to their individual search criteria. Contact us today and find that property you have always wanted!
Here are a Few of My Current Listings:
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Exceptional View and Location! Exceptional cabin with exceptional views, amenities, and location. Fully furnished. Type: Single Family Home Location:Gatlinburg ,Tennessee Price: $279,900 Get more information > |
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Incredible Smoky Mountain Home & Views! Outstanding workmanship and distinctive design make this gorgeous mountain get away with five master suites, gourmet kitchen, HUGE rec room and magnificent,unblemished views of the Smokies a one of a kind! Type: Single Family Home Location:Gatlinburg ,Tennessee Price: $799,900 Get more information > |
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15 Acre Mountain Lodge!! Breathtaking views from this Mountain Lodge, on 15 acres, located in prestigious Chalet Village. 12 Master Suites all with their own whirlpool baths, LCD TV’s,king beds & private balconies w/views! Room to entertain 100 people with parking for 14 cars. Type: Single Family Home Location:Gatlinburg ,Tennessee Price: $1,950,000 Get more information > |