March 2023 Sevier County, Tennessee Real Estate Market Update

Homes

Average price saw a 33% jump from last year at $926,103, compared to $693,727 in March of 2023.

There were 30 homes that sold during the month of March at over $1 Million. This is a sizeable lift from the 10 homes sold over $1 Million in February and 12 homes sold over $1 Million in January.

Days on market saw a yet another sizeable reduction to 46 days, down from 64 days on the market in February. This is a 15% reduction when compared to March of 2023 at 54 days on the market.

Price per square foot saw another bump during march at $386, up from $373 in February.

 

 

Lots/Land

 

The average price for land/lots during saw a dip to $86,410 when compared to February at $102,283. This is a 39% reduction when compared to March of 2023, when the average price of land/lots was $141,814.

Lots that sold in March spent an average of 247 days on the market, which is a 52% increase when compared to March of 2023 at 163 days on the market.