Despite the outlier in June – notice the increase during the 4th quarter.
Despite the outlier in July – days on market stayed relatively close to 100 days during 2020.
Below is the market report for December. Next week we’ll share a year-end report. The year-end report will provide yearly graphs focusing on days on market and average price.
Residential
Land
Average price has risen by 24% and by approximately $75,000 year to date.
Average price in Chalet Village is up by 22% month over month.
There have only been 19 more transactions from January to October in 2020 than during the same period of time in 2019. The volume for the year is up 116 Million dollars, raising the average price by 22%.
Land
The volume of land sold for the year is up by eight million dollars, October accounted for five million of that increase. So far this year, land values on Bluff Mountain have increased by 137% and increased by 46% in Wears Valley.
Below is information about our market’s movement during the month of September. Notice that average price continues to increase, +28% for single family homes and is flat for land, while we continue to decline in inventory.
“Pending home sales continued with upward momentum in August. According to the National Association of REALTORS® (NAR), pending home sales for the month marked four consecutive months of growth, with gains across all major regions in both month-over-month and year-over-year transactions.
NAR’s Pending Home Sales Index (PHSI) rose 8.8 percent to 132.8 in August, with YoY contract signings increasing 24.2 percent.”
You can read the full National Association of REALTORS® (NAR) article here.
Prices are high and inventory is low, if you are think now might be the time to sell we’d love to help you determine the value of your property.
Residential
Land
Below is information about our market’s movement during the month of August. Notice that average price continues to increase, +13% for single family homes and +5% for land, while we continue to decline in inventory.
Prices are high and inventory is low, if you are think now might be the time to sell we’d love to help you determine the value of your property.
Below is information about our markets movement during the month of July. Notice that average price continues to increase, +24% for single family homes and +8% for land, while we continue to decline in inventory.
Here is information about year to date market movement.
The charts below represent price per square foot and days on market data broken down by number of bedrooms for Sevier County from May 2019 – March 2020.
Soon, we’ll provide data that includes Quarter 2 days on market and average price per square foot, which will provide year over year comparison.
Price per Square Foot
Days on Market
Below are a few articles about the national market movement.
“Home buying optimism soars in latest Fannie Mae survey”
“Home loans have never been cheaper, if you can find a willing lender.”
Below is information about our markets movement during the month of June. Notice that average price continues to increase, +24% for single family homes and +26% for land, while we continue to decline in inventory.
If you think now may be the right time for you to sell, we’d love to help you determine what your home or piece of land might be worth.
Year to Date Market Movement
