November 2021 Real Estate Market Report

November Market Report

  • Average days on Market are holding steady at 91 days, down 7 days from 2020.
  • Price per square foot saw a slight increase from $288.40 in October 2021 to $320.44 November 2021, up 54% from last November.
  • 20 more homes sold in this year in November, than last year in November, from 235 to 255.
  • Average Price saw a slight reduction from $608,798 to $578,046 from October to November – we’ll keep a close eye on this and report back next month to let you know if we continue to see a trend. Average price is up 47% from last year!

 

November Real Estate Market Report - Homes

 

 

 

Land

  • The number of land sales fell from 78 during November of 2020 to 59 in November 2021.
  • Average price saw a slight decrease, from $107,935 to $100,247.
  • Days on market saw a 30% reduction from last year at 289 days to 203 days in November.

 

November Real Estate Market Report - Land

Tennessee housing market analysis: State experiencing positive economic outcomes in wake of pandemic!

In a new economic report from Middle Tennessee State University, the state’s housing market continues to show signs of a continued recovery from the impact of COVID-19.

The MTSU Business and Economic Research Center’s statewide analysis for the second quarter showed mostly positive outcomes, with home sales increasing overall from the previous quarter and home prices up from the previous year across the state.

Housing prices for the U.S. and Tennessee seem to follow a pattern of exponential growth, while mortgage delinquencies inch closer to pre-pandemic levels, and foreclosures remain slightly above zero percent. Here are some takeaways from the report.

  • Among the major metropolitan statistical areas in Tennessee, all saw increases in home prices
  • Single-family and total home permits for Tennessee were more mixed. Single-family permits slightly fell by .2%, and total permits rose by 12% since Q1 2021. Both categories of permits saw significant increases since the second quarter of 2020. Single-family permits rose by 36% and total family permits rose by 44%.
  • Real estate transfer tax collections sharply increased from the first quarter by 24.5% and 68.5% over the year. Real estate transfer tax collections averaged $24 million
  • Mortgage tax collections increased from the previous quarter by 15%, while the yearly increase was 36.25%

Read the full article from the Nashville Business Journal here.

See the MTSU Jones College of Business Quarterly Housing Rep

September 2021 Market Report

We saw another drastic leap in average price this month – from $541,328 in August to $611,091 in September.
Average days on market dropped to 91 days, down 14 days from 2020.
Price per Square Foot increased by $112.20, from $185.93 during September of 2020 to $298.13 during September of this year!

 

Average Price rose by 35% from $73,071 to $148,415!
Days on market reduced from 245 in September of 2020 to 158 in September of this year.

 

August 2021 Sevier County Real Estate Market Report

Check out the current market report for August!

August 2021 Sevier County Real Estate Market Report for Homes

Average price rose by over $200,000 during the month of August this year compared to last!
Average days on market decreased by 31% compared to last year.
36% more homes sold during the month of August in 2021 than in 2020, for an increase of 69 homes!

 

 

 

August 2021 Sevier County Real Estate Market Report for Land

The number of lots sold is up 5% in 2021!
Average Price rose by 119% from $143,961 to $65,609!

 

 

June Market Report

Check out the current market report for June!

Average price rose by 58% from $353,398 to $561,284 this year!
Average days on market decreased by 29% compared to last year.
54% more homes sold during the month of June in 2021 than in 2020.

 

 

Land

Number of lots sold is up 76% in 2021!
Average Price rose by 18%!

 

 

 

May Market Report

May Market Report

Check out the current market report for May!

Average days on market decreased by 20% compared to last year. Average price rose by 86% from $301,144 to $562,510 this year!

 

 

Land

May Market Report

April Market Report

Check out the market report for April!

Total residential average price rose by 72% while average days on market decreased by 33% in 2021 compared to 2020.

 

 

Check out the graphs depicting the average price growth during 2021.

 

2020 Market Statistics For Sevierville

2020 Year-End Real Estate Market Statistics specific to residential sales in Sevierville.

 

Average Price per Square Foot

Note the increase during the last quarter of the year.

 

Days on Market

Notice the drastic drop during November and December.

 

 

2020 Market Statistics For Pigeon Forge

2020 Year-End Real Estate Market Statistics specific to residential sales in Pigeon Forge

Average Price per Square Foot

Notice the spike in average price per square foot during March and September.
Average price stayed between $180 and $220 throughout the remainder of the year.

Pigeon Forge - Total Average Price
Pigeon Forge – Total Average Price
Pigeon Forge - Average Price Bedrooms 1-3
Pigeon Forge – Average Price Bedrooms 1-3

 

Pigeon Forge - Average Price Bedrooms 4-6
Pigeon Forge – Average Price Bedrooms 4-6
Pigeon Forge - Average Price Total and Bedrooms 1-6
Pigeon Forge – Average Price Total and Bedrooms 1-6

 

Days on Market

Days on market dipped from February to May and peaked during October and November.

Pigeon Forge - Days on Market Total
Pigeon Forge – Days on Market Total

 

Pigeon Forge - Days on Market (Bedroom 1-3)
Pigeon Forge – Days on Market (Bedroom 1-3)
Pigeon Forge - Days on Market (Bedroom 4-6)
Pigeon Forge – Days on Market (Bedroom 4-6)

 

Pigeon Forge - Days on Market (Total and Bedrooms 1-6)
Pigeon Forge – Days on Market (Total and Bedrooms 1-6)