2016 Year End Market Statistics for Sevier County, TN

Posted by Jason White on

Days on market ranged from 224 to 166 this year. DOM peaked in May at 224 days and fell to 166 days in December. Days on Market rose from March to May, and then began to decrease. 

Days on Market in 2106

 

Average List Price was lowest in January and rose until November, with a dip in June. From $206,872 in January to $226,191 in November. A rise of 9% and a $20,000 change. Average Sale Price was lowest in January and rose until November. From $195,365 in January to $226,191 in November. A rise of 15% and a $31,000 change.

List to Sale Price in 2016

 

List to sale ratio ranged from 94.4% to 95.9% this year. List to sale ratio peaked in November and December to 95.9%, and was the lowest at 94.4% in January and February. 

List to Sale Price Ratio in 2016

Federal Reserve Raises Interest Rates

Posted by Gatlin on

The Federal Reserve Board (the Fed) has just recently raised it’s interest rate for the first time in over a year. What does that mean? Let’s take a look.

 

For starters, it is important to understand that the Fed adjusts the rate to influence the economy. For example, if things are going well, a rate increase may slow inflation. If the economy is struggling, a rate drop could be the boost it needs. In today’s case, a low amount of inventory is met with a substantially higher demand from buyer’s. This recent change moved the key interest rate by a quarter point, from a range of 0.25-0.5 percent to a range of 0.5-0.75 percent. Why all the fuss? The Fed rates can cause the bank’s to raise their “prime” rates, which are often used to calculate costs of revolving credit or home equity lines of credit. While the increase was modest at best, we will continue to keep an eye on it as we move through 2017 and see how it affects our constantly evolving market.

This Week’s Featured Property:

 

orig_boomver_1_207115-1   2410 Smoky Vista Way – $1,750,000 -Luxurious, spacious, & very well-built, 5 BD/4.5 BA post & beam/log structure, which includes a spacious detached guest home, located at the top of a knoll with spectacular 360 degree views of the Smoky Mountains and surrounding ridge lines. Only mins. to dwtn. Pigeon Forge, Sevierville, Dollywood with easy paved road access. Currently one of the highest grossing income-producing properties on a well-established rental program (even with over 90 owner days during peak times). This amazingly well-built property includes a nearly 5,200 sq ft main home, as well as an over 2,000 sq ft guest home, complete w/a spacious, detached 2-4 car garage & a large, attached 2-car carport, as well as level parking. This property has undergone considerable remodeling & refurbishing, including all re-stained exterior surfaces, new tile surfaces & showers for the bathrooms, new bedroom carpeting, ceiling. Four beautiful waterfall features that surround the in ground pool and mountain stone patios combine with many more architectural features that truly make this property one-of-a-kind. In the main house, you have a large great room w/high, vaulted ceilings, amazing hand hewn exposed king trusses, granite countertops, a large bedroom on each level that features an in-room F/P, private bathroom, & walk-in closet, a large lower level recreation room, a separate lower level den area, & much more. The guest house, features 2 BD’s, 1 BA, a large great room unto over the detached garage. The grounds are walkable and even include a small putting green. A truly great property that is worth the visit alone just to see it – come see it for yourself today before it’s too late!

The Great Smoky Mountains Real Estate Market Continues Steady Growth Through The End of 2016

Posted by Gatlin on

buyersroad-300x286-300x286-1

 

For over the last few months, the local & national real estate markets have reflected a gradual and steady growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through December of 2016 and the end of 2016 itself, we will see that such local & national trends, particularly in the Great Smoky Mountains real estate market, continue to reflect these very same trends of gradual growth that we also see nationally. Let’s now see what the numbers have to say.

 

graph-59

 

In the category of Residences Sold, we see that in comparing December of 2016 to that of December of 2015, the number of residences sold increased by 13% in terms of homes being sold. This figure shows a robust growth through December 2016, as opposed to one year ago, and is in line with the growth rate in this very same category for last month as well. We will see if this trend continues with future statistics in this category, but it does show a strong result for residential sales on the whole, as well as continued growth

 

graph-60

 

In the category of Residential Dollar Volume from December of 2016, as opposed to December of 2015, we see an increase of 11% in terms of dollar volume. This category does show a continued high percentage from year-to-year, showing that there is continued, strong growth in this category. This continues to show a continued local, as well as national, trend of relatively steady, stable, and even robust growth in terms of this category, as well, and also continues to reflect the consistently higher home prices that have been taking place for over the last eighteen months now on a national scale.

 

graph-61

 

There is also continued good news for sellers in the Average Sold Price Category. For December of 2016, as compared to that of December of 2015, average sold prices show an increase of 6%, which continues to show steady and consistent strength in this category on average, as well as remaining constant from that of last month, reflecting a stronger local market in this category. As confidence continues to grow in both the local and national markets, we foresee that this relatively steady and upward trend of higher home prices will likely continue for at least the short-term horizon, if not longer.

graph-62

In addition, available homes on the market are continuing to show a trend of steady decreases. Through December of 2016, as opposed to December of 2015, the number of available homes did decline by 9%. This is largely in line with the latest national real estate trends, which also shows a gradual decline in available home inventory as a whole. This may foretell that with declining inventory, the local market is showing movement towards more people wanting to buy the available properties currently in the local market, and that with higher home prices, more people may feel a greater sense of confidence in placing their homes for sale on the market, along with greater interest in buying what inventory is currently available, as well. We will keep watching to see if this particular trend continues, and see what it does for the real estate market as a whole, both here locally, as well as nationally.

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 many great Featured Properties, and see what the Smokies area have to offer for you today?

 

Featured Properties:

 orig_boomver_1_206512-1  410 Big Bear Way Unit 5001- $189,900 This luxuriously appointed 5th floor corner unit is an easy 1/2 mile walk from the main parkway in the middle of Pigeon Forge AND boasts beautiful city & mountain views. It’s hard to beat that combination, right? This pet friendly condo features 2 bedrooms, 2 bathrooms within an open floor plan complimented by granite countertops in kitchen and baths, river stone fireplace in living room, spa-like master bathroom with a humongous seven-foot, walk-in shower, 2 person whirlpool tub and a LARGE wraparound patio for enjoying the incredible views. Come see for yourself today!

Happy New Year from the Jason White Team!

Posted by Gatlin on

 

From all of us with The Jason White Team and Century 21 Four Seasons Realty, Inc., we want to wish everyone a very safe and Happy New Year, and for good wishes in 2017 to everyone. This year has definitely been one for the books, but with the support of you all, we are heading into 2017 with high hopes! This weekend we will celebrate the coming of 2017, and each year, the City of Gatlinburg hosts its annual New Year’s Eve Ball Drop and Fireworks Show, located at the Gatlinburg Space Needle, right in the heart of downtown Gatlinburg. Thousands of people attend this annual event every year, and this year will be no exception. At midnight on January 1, 2017, fireworks will blast off the rooftop of the 400-foot tall Gatlinburg Space Needle, lighting up the night sky and creating a truly spectacular display. In addition, many downtown Gatlinburg businesses and restaurants will be offering celebration specials for the event. You can learn more about the night’s festivities by visiting the Gatlinburg Website, regarding all of the details on this last event of the year in Gatlinburg.

 

Happy New Year!

Sincerely,

The Jason White Team

Merry Christmas from the Jason White Team!

Posted by Gatlin on

 

 

From all of us with The Jason White Team, we want to wish everyone a Merry Christmas and Happy Holidays! We hope you enjoy your time with family and friends this holiday weekend. Here in Gatlinburg, we have been busy preparing for the many guests we will have arriving to spend the holidays with us! The Gatlinburg area offers nonstop family fun for the holiday season. Right now, the City of Gatlinburg is having its annual Winter Magic Trolley Ride of Lights, showing the many great holiday-themed light displays throughout the Gatlinburg area, along with the many great attractions in and around Gatlinburg itself, such as Ober Gatlinburg, the Great Smoky Mountains National Park, & much more. Head down to Pigeon Forge for a fabulous Christmas Eve dinner at The Old Mill, or enjoy a Christmas-themed show at Dolly’s Dixie Stampede. It’s always a great time during the holidays here in the Smokies, and we want to wish all of you a truly great and wonderful holiday season.

Once again, we would also like to thank you all for the overwhelming support we have received during the last few weeks. It has been quite uplifting to know that our city is loved by so many. Again, Thank you, and Merry Christmas!

 

Sincerely,

Jason, Stephanie, Suzanne, Keith, Justin, Brenna & Martha

The Jason White Team

Gatlinburg Mountain Tough Benefit Festival

Posted by Gatlin on

131257705673870051

 

This weekend is going to be a BIG one here in Gatlinburg! We are so thankful, after the devastation that hit us two weeks ago, to be able to present quite a bit of positive news to you all.

Firstly, Ober Gatlinburg opens up it’s skiing and snowboarding Friday, the 16th! The snowmakers at Ober Gatlinburg turned on their equipment last Thursday night. Skiing/Snowboarding hours are:Monday-Thursday Noon-10:00pm, Friday-Saturday 9:00am-10:00pm and Sunday 9:00am-7:00pm. Snowtubing, ice-skating, and all other attractions opened up this last Monday.

Gatlinburg is so proud to host the Zac Brown Band, as well as many, many other artists, this Saturday for the “Mountain Tough Benefit Concert”. This event takes place at 705 Parkway, Gatlinburg, and is a telethon-style event that will be broadcast live on many radio stations as well as on television and live on the web. The event will start at 10 am, and Zac Brown band will headline at 7 pm that evening. Donations can be made in-person and through a variety of online platforms, and 100% of the funds will go to the Sevier County Community Fund, a fund that has been set up specifically for the victims of the Gatlinburg Fires.

Once again, we want to thank everyone who has donated, prayed, and reached out to us over the last few weeks. Our community has been proven to be immeasurably strong throughout this devastation, but we truly could not be so strong without the support of our tourists. Thank you, thank you, thank you!

 

Sincerely,

The Jason White Team

Gatlinburg Wildfire Update

Posted by Gatlin on

As many of you may know by now, Monday, November 28th, much of our area was devastated by wildfires. Since we last updated our blog last Thursday, we have learned a lot about the wildfires.

 

First of all, we would like to thank everyone who has come together to donate, pray, or volunteer for our community. Gatlinburg is such a sacred place to all of us, and this would be much more difficult without the support of you all. The good news is, Gatlinburg will reopen to the public tomorrow morning at 7 AM! We encourage everyone to come and visit us. Our city thrives on it’s tourism and we would love to have you come to shop, eat and stay in our area. It is still beautiful.

 

More than 2,400 structures have burned in these wildfires. There are 14 confirmed fatalities, and 176 confirmed injuries due to this disaster. All major roadways are expected to be open tomorrow, and some side roads may still be closed due to crews still working to restore utilities.

Late yesterday afternoon, authorities took two juveniles into custody on allegations for starting a fire in the Chimney’s on Wednesday, November 23. Be sure to follow our Facebook Page for updates as we receive them.

 

If you would like to make a donation for our employees who have lost their homes, you can mail a check to:

“Relief Fund”

Account #27352387

Sevier County Bank
111 E Main Street
Sevierville, TN 37864-5288

Thank you all again for all of your support.

Sincerely,

The Jason White Team

Gatlinburg Wildfires

Posted by Gatlin on

15219637_552107094985955_2856585200427315627_n

As many of you may have seen by now, our town was devastated this week with deadly wildfires. As of today, this is what we know:

A brush fire started in the Chimney’s area of the Great Smoky Mountains National Park over the weekend. By Monday morning, this 50 acre fire had evolved into a 500 acre fire, due to high speed gusts of wind, extremely dry conditions due to drought, and downed power lines. As of now, over 700 buildings have been destroyed, approximately 70 people are missing, and 10 fatalities have been confirmed.

Thankfully, our office was spared. The Tyrolea and Alpendorf sections of Chalet Village has been saved, however much of Wiley Oakley, Greystone Heights, and Chalet Village North is all destroyed. Many main attractions such as Ripley’s Aquarium and Dollywood were saved.

Despite all of this, our community has maintained a steady resilience and has come together in an incredible way. There has been an outpouring of support in the form of donations, volunteers, and food and drink for everyone who has lost a home or business, and all of the incredible firefighters, EMT, police officers who have dedicated their time to saving our city.

What we need most, is your support! Gatlinburg has always thrived on our tourism industry, so please, don’t think you cannot come to visit us. Our area is still just as beautiful, and with your support, we will build back everything that has been lost, and more.

If you would like to make a donation, you can mail a check to:

“Relief Fund”

Account #27352387

Sevier County Bank
111 E Main Street
Sevierville, TN 37864-5288

 

For the most up to date information on the Gatlinburg Wildfires, please tune into our facebook page at www.facebook.com/Jasonwhiteteam We update this page several times a day as the news comes in.

Thank you all for your outpouring support and prayers. Our area is truly a beautiful place and will come back better than ever!

Happy Thanksgiving from the Jason White Team!

Posted by Gatlin on

From all of us here at The Jason White Team and Century 21 Four Seasons Realty, Inc., here in Gatlinburg, TN, we want to wish everyone a very Happy Thanksgiving holiday. We hope that you will enjoy your time with friends and family, and if you are visiting the Gatlinburg area, whether for the first time or are returning to visit the area again, we welcome you to the Great Smoky Mountains and hope that you will have a great experience and lots of fun while here in our area. With the holidays here, now is a great time to see what the Great Smoky Mountains can do for you and your home ownership dreams. Please feel free to browse our many great Featured Properties, and learn more about how The Jason White Team can help realize your home ownership dreams today!

 

Please view our website for more information on our Featured Properties!

 

Happy Thanksgiving!

The Holidays in Gatlinburg, Tennessee

Posted by Gatlin on

photo-of-a-christmas-lights-display-in-gatlinburg

 

This time of the year is such an incredible time to visit our area! The Winterfest lights can now be seen all throughout Sevierville, Pigeon Forge, and Gatlinburg. Many of the areas main attractions are now bursting with the Christmas spirit! Dollywood is hosting it’s annual Smoky Mountain Christmas, featuring festive holiday shows, delicious meals, and millions of lights all over the park. Shows such as Dixie Stampede and the Smoky Mountain Opry are also offering their seasonal holiday shows!

For those of you visiting next week for Thanksgiving, check out a list of restaurants in our area that will be open Thanksgiving Day! You can find that list here. And don’t forget, many stores in the Tanger Outlet Mall open as early as 6 PM on Thanksgiving night, giving everyone plenty shop-til-you-drop Black Friday deals!

Although the skiing and snowboarding doesn’t start until December, check out Ober Gatlinburg for some snow tubing! With low temperatures over the weekend, snow tubing is expected to start Saturday, November 19th.

With all there is to do this season, don’t forget to stop by or give us a call while you are in the area! Visit our website for more information on Featured Properties.

 

This Week’s Featured Properties:

 

orig_boomver_1_206536-1   315 Greystone Heights – $299,900  Well-built & maintained, 5 BD/4 BA, log-style mtn. chalet, located above dwtn. Gatlinburg w/amazing views of the Smokies, just mere mins. to many of the attractions & shopping of the area, including Ripley’s Aquarium of the Smokies, the Nat’l Park, & much more.