Through the start of 2014, we have seen both the national and local real estate markets showing slow, but steady, growth on the whole in many real estate market categories, especially within the last 12 months. As we look at the statistics for the Great Smoky Mountain real estate market through April 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 April 2014 to that of April 2013, the number of residences sold actually increased by 3% in terms of homes sold, in that 39 more homes were sold as of the end of April 2014, as opposed to April 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 for residences sold, in which we also see somewhat happening on the national level.
In the category of Residential Dollar Volume for the year, we see a largely steady increase of 9% through April 2014, as opposed to that of April 2013. With the steadiness of the increasing numbers as it relates to Residences Sold, as mentioned earlier, this reflects the ongoing local and national trends of increasing home prices, and still continues to demonstrate that a greater dollar volume in homes are in fact 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 for both the local and national real estate markets, 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 April 2014, as compared to that of April 2013, prices still show a largely steady increase of 6%, which is also reflective of the recent local and national trends towards gradually higher average home prices, which has remained constant for at least the last 12 months. As confidence continues to slowly 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 now actually showing a slight decrease. Through April 2014, as opposed to April 2013, the number of available homes actually declined by 1%, showing that there was a marked decrease of 45 homes from this time last year, compared to that of April 2014. This actually is in line with the latest national real estate trends, which also shows a decline in available home inventory, as well. While it is too early to say if this trend will continue, it does show that available inventory of homes is starting to decline, and certainly bears watching to see if such a trend continues.
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 12 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 Mountains real estate market. Why not start your Great Smoky Mountains 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 Only Mins. to Gatlinburg – Just Reduced! 3 BD/1BA, w/spacious screened-in porch, & built-in carport. Very private, heavily wooded, & has own backyard. Unique home at a great price! Type: Single-Family Home Location: Gatlinburg, TN Price: $127,000 For more information >
Private, Spacious, 3 BD/2 BA Home in Beautiful Pittman Center! Located in the Gatlinburg Arts & Crafts Community; mins. to dwtn. Gatlinburg & the Nat’l Park! Large living/dining rm, sunroom, 2-car garage, & level parking. Very private! Type: Single-Family Home Location: Gatlinburg, TN Price: $185,500 For more information >
Picturesque, Victorian-Style Chalet Only Mins. to Gatlinburg! Made near or above $20K in rental income in last 3 yrs.! 2 BD, w/2 full BA & 2 half BA, & Each BD has in-room W/P & Priv. BA. Amazing views of the Smokies! Unique home & great location! Type: Single-Family Home Location: Gatlinburg, TN Price: $279,000 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