Through the start of 2014, we have seen both the national and local real estate markets showing slow, but steady, growth on the whole, especially within the last year or so. As we look at the statistics for the Great Smoky Mountain real estate market through March of this year, we will see that these trends, particularly in the Great Smoky Mountain real estate market, continue to remain steady in terms of these trends of real estate growth. Let’s now see what the numbers have to say.
In the category of Residences Sold, we see that in comparing March 2014 to that of March 2013, the number of residences sold held steady with an increase by 1% in terms of homes sold, in that 14 more homes were sold as of March 2014, as opposed to March 2013. This continues a trend of steadiness, as well as gradual growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the market does indeed continue to reflect a steady and slowly growing trend, reflective of the overall national trends concerning this category.
In the category of Residential Dollar Volume for the year, we see a largely steady increase of 8% through March 2014, as opposed to that of March 2013. With the steadiness of the numbers as it relates to Residences Sold, as mentioned earlier, this reflects local and national trends of increasing home prices, and still continues to demonstrate that a greater dollar volume in homes are being sold, as compared to the same time a year ago. On balance, this still shows a continuation of a steadily strengthening real estate market, showing greater confidence on the part of both buyers and sellers.
There is also continued good news for sellers in the Average Sold Price Category. In line with statistics so far for March 2014, as compared to that of March 2013, prices still show a largely steady increase of 7%, which is reflective of the recent local and national trends towards gradually higher home prices, which has remained constant for at least the last year or more. As confidence continues to grow between potential buyers and sellers in the market as a whole, we foresee that the trend of higher home prices will likely continue for the foreseeable future.
In addition, available homes on the market are actually showing a slight, albeit nominal, increase. Through March 2014, as opposed to March 2014, while the number of homes being listed as available on the market is relatively unchanged, there was a increase of 5 homes from March 2013 to that of March 2014. This shows that the number of available homes currently in the market have remained relatively unchanged, and even show a minimal increase, as we head into April 2014. This shows a possible leveling off of any sudden increases and/or decreases in the available inventory of real estate, indicating a possible greater market stability for numbers of available homes. While too early to tell if this will continue as such, it does show a gradual process by which greater stability is possible, at least in this category.
As markets continue these gradual trends of growth locally and across the nation, these statistics are largely expected to remain largely steady at least in the short-term, showing the same continued slow, but steady, strength and growth that has been the case for the last few months. Mortgage rates still remain at historically low rates, and there are still plenty of housing options to choose from, especially in the Great Smoky Mountain real estate market. Why not start your Great Smoky Mountain home search now by visiting our website, browsing our Featured Properties, and seeing what the Smoky Mountain area has to offer for you? You can also “Like” us on our Facebook page, or you can browse our team website further, to learn about The Jason White Team! Let us help you make your home ownership dreams a reality today!
Here Are A Few of My Featured Properties:
Unique, Private Home Located Only Mins. to Gatlinburg! 3 BD/1BA, w/spacious screened-in porch, & built-in carport underneath. Exterior made of California Redwood, & Western Cedar on the interior. Very private, heavily wooded, & has own backyard. Unique home at a great price! Type: Single-Family Home Location: Gatlinburg, TN Price: $139,900 For more information >
Authentic Log Home w/Fantastic 180-Degree Views of Mt. LeConte & Smokies! Made $58,000+ in rental income in last 2 yrs. alone! Has split bedroom/bath suites for privacy & conscience. Has 2 deck levels, along w/level parking. Close to dwtn. Gatlinburg, but very private! Type: Single-Family Home Location: Gatlinburg, TN Price: $479,900 For more information >
Pristine 12 Acre Estate w/Majestic Mtn. Views & Close to Gatlinburg! Amazing property, w/unlimited potential as a residence, rental, or retreat center! Very spacious, & borders the Nat’l Park, creating your own 530,000 acre backyard! You’ll never find another unique property like this! Type: Single-Family Home Location: Gatlinburg, TN Price: $697,000 For more information >
The Jason White Team
Century 21 Four Seasons Realty
1441 Wiley Oakley Dr
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227