Throughout 2014 to date, we have seen the local and national real estate markets reflecting slow, but steady, growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountain real estate market through July of 2014, we will see that such trends, particularly in the Great Smoky Mountain real estate market, continue to show the same general trends of slow, but steady, growth that we are also seeing nationally. Let’s now see what the numbers have to say for July of 2014, as compared to those one year ago, in July of 2013.
In the category of Residences Sold, we see that in comparing July of 2014 to that of July of 2013, the number of residences sold increased by 3% in terms of homes being sold, in that 42 more homes were sold as of the end of July of 2014, as opposed to July of 2013, which remains unchanged from last month, reflecting the same percentage in this statistical category. This reflects a general 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 local market does indeed continue to reflect this same general trend of steady and slow growth, with respect not just to Residences Sold, but in other real estate statistical categories.
In the category of Residential Dollar Volume from July of 2014, as opposed to July of 2013, we see an increase of 11% in terms of dollar volume through July of 2014, as compared to July of 2013, which is slightly up from last month’s increase of 10%, but continues to reflect a general upward trend in terms of Residential Dollar Volume throughout 2014 to date. This shows a continued local, as well as national, trend of relatively steady growth in terms of this category, possibly continuing to reflect the higher home prices that have been taking place for over a year or so now on a national scale.
There is also continued good news for sellers in the Average Sold Price Category. For July of 2014, as compared to that of July of 2013, average sold prices show an increase of 8%, which is an increase of 1% from that of last month, reflecting a continued trend of gradually higher average home prices on both the local & national levels, and remaining largely constant for the past year or so. As confidence continues to slowly grow in both the local and national markets, we foresee that this relatively steady trend of higher home prices will likely continue for the foreseeable future.
In addition, available homes on the market are continuing to show a slight decrease, which has also happened over the last couple of months, as well. Through July of 2014, as opposed to July of 2013, the number of available homes did decline by 1%, or reflects a decrease of 37 homes in terms of available inventory. This actually is still largely in line with the latest national real estate trends, which also shows a small decline in available home inventory on the whole. It remains unknown if this decreasing trend in available inventory will continue, but this trend certainly bears watching to see if it will, in fact, continue.
As markets continue these gradual trends of growth locally and nationally, these statistics are largely expected to remain largely steady at least for the short-term, largely continuing the same continued slow, but steady, growth that has been shown for over the last year or so. 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 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:
Luxurious, Beautifully-Decorated 4 BD/4 BA Log Home in Chalet Village – New Listing! Just started w/a well-managed rental program; has great potential as an overnight rental, or as a permanent or 2nd home! Has amazing views of Mt. LeConte & the Smokies, Large Living Rm, Combination Gourmet Kitchen & Dining Rm, Large Open Recreational Rm, 2 Master Suites, 2-car attached garage, relatively level parking, & much more! Has easy access to city-maintained roads & services, & only mins. to dwtn. Gatlinburg, Ober Gatlinburg, & Nat’l Park. A very luxurious & spacious home – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $575,000 For more information >
Private, Spacious 5 BD/4 BA Log Cabin, w/Incredible Mtn. Views, Only Mins. to Gatlinburg – New Listing! Made over $61K in rental income in each of the last 2 yrs.! Very spacious home, w/ incredible views of dwtn. Gatlinburg & the Smokies. Has a Large Living/Dining Rm, Den/Recreational Rm, spacious deck area, level parking, easy access to city-maintained roads & services, & much more! Only mins. from dwtn. Gatlinburg, the Nat’l Park, & City trolley stops. A great location, w/one-of-a-kind City & mtn. views & great income potential! Type: Single-Family Home Location: Gatlinburg, TN Price: $239,900 For more information >
Beautiful, Vintage-Style, 3 BD/3 BA Private Chalet Only Mins. to Dwtn. Gatlinburg – Just Increased! Over $26K in rental income for 2012 & 2013! Incl. great views of dwtn. Gatlinburg & the Smokies, & 2 spacious deck areas. Has Large Great Rm, spacious Loft area w/Den, Large Lower Recreational Rm, & more, along w/street-level & lower level parking areas, easy access to city-maintained roads & services, & only mins. to dwtn. Gatlinburg, City Trolley stops, & the Nat’l Park. A private, uniquely designed home close to dwtn. Gatlinburg! Type: Single-Family Home Location: Gatlinburg, TN Price: $239,000 For more information >
The Jason White Team
Century 21 Four Seasons Realty, Inc.
1441 Wiley Oakley Drive
Gatlinburg, TN 37738
Toll Free: (877) 678-2121
Fax: (865) 436-7227