Data From the Great Smoky Mountains Association of Realtors Reveals Our Current Rebound

The primary function of my blogs and newsletters is to help educate my readers on real estate market conditions. I like my readership to be savvy to current real estate trends. When a good opportunity appears, readers can then move with confidence to acquire or sell their property. I utilize many sources to track the realty markets, but today we will review information from GSMAR. This local Great Smoky Mountain Association of Realtors tool gives us a focused look at all facets of Smokies real estate.

Today’s look compares Smokies residential sales for February 2010 vs February of 2009. In total residences sold, 2010 has 107 with 2009 at 74. The current year’s February, leads 2009 with 33 more residences sold (a  45% increase).

Quantity of homes sold   

Dollar volume sold for February 2010 is $20,591,043 vs February 2009 at $12,444,120. This is a 2010 increase of $8,146,923 or a 65% improvement over February 2009.

 Dollar volume sold

 In comparing the average residential sale for February 2010 to February 2009, our current year wins out 2010 is $192,440 vs 2009 at $168,164. 2010’s average sale is 14% higher or $24,276 larger than 2009.

 Average sale price

 Comparing the category of active listings February of 2010 is again superior. February 2010 has 3,779 listings, with February 2009 at 3,260. This shows an improvement of 16% or 519 more active listings for our current year’s February over the last.

 Quantity of active homes

Clearly there is robust improvement in this year’s residential sales for February, compared to the same time period in 2009. Units sold are up, sold dollar volume increased, average residence price sold increased, and active listings are higher. This data is certainly worth celebrating. However, I would advise my readers to be cautious. Some of this recovery is government driven, courtesy of the homebuyer stimulus tax credits. With that being said, there are still many factors that make this a favorable time to purchase or sell real estate in the Smokies. First, the tax credit for new homebuyers and repeat buyers is good through April 30th, 2010, and the purchase must be finalized by June 30th 2010 to qualify. Second, mortgage interest rates for qualified buyers are very low. Third, prices are stabilizing in many areas. It could be a time to lock in lower prices before they climb. In addition there are a lot of active listings, for a good selection of properties. Today’s data indicates that higher priced residences may be selling, with the average residence price increasing over February of 2009.

The uncertainties in the worlds stock markets, world currencies, and other investments, could make real estate a good asset in your personal portfolio. To get started on the path of Smokies real estate, contact the professionals on the Jason White Team today! You can reach us online or by phone to commence your property quest within a time frame that meets your personal requirements.

Here are a Couple of My Current Listings:

Heritage Log Home w/ Views of Mt LeConte
This beautifully built Heritage Log Home in prestigious Chalet Village has great views of Mt. LeConte. Private yet close to downtown shopping and dining. Three master suites for privacy and on a open lot with level parking.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $379,900
Get more information >
Short Sale’ Great Location!!
This conveniently located home is within walking distance of Community Center, Mills Park, schools, and Gatlinburg shopping and dining. Lovely wooded setting and nice furnishings.
Type: Single Family Home
Location: Gatlinburg ,Tennessee
Price: $179,900
Get more information >
  Call us today for more information or to view these properties! Call Jason or Stephanie at 865-436-2121.