For over the last year or so, the local & national real estate markets have reflected a largely gradual, but steady, growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through January of 2015, we will see that such local & national trends, particularly in the Great Smoky Mountains real estate market, continue to reflect these very same trends of gradual, but steady, growth that we also see nationally, and have seen for some time now. Let’s now see what the numbers have to say for January of 2015, as compared to those one year ago, in January of 2014, to start the new year.
In the category of Residences Sold, we see that in comparing January of 2015 to that of January of 2014, the number of residences sold actually increased slightly by 2% in terms of homes being sold, as there were 22 more homes that were sold as of the end of January of 2015, as opposed to January of 2014. This actually shows a real reversal from the last couple of months, when Residences Sold showed a slight decline each month, as we ended 2014. This may indicate a potential start of growth in home sales, though it is too early to say if this will continue. However, this does pose a good start to 2015, at least initially, regarding Residences Sold.
In the category of Residential Dollar Volume from January of 2015, as opposed to January of 2014, we see an increase of 10% in terms of dollar volume through January of 2015, as compared to January of 2014, which is actually a 2% increase from that of December of 2014’s statistics, and continues to reflect a general upward trend in terms of Residential Dollar Volume, which has been in evidence for at least the last few months, if not longer. This shows a continued local, as well as national, trend of relatively steady growth in terms of this category, 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 January of 2015, as compared to that of January of 2014, average sold prices show an increase of 8%, which actually is a slight decline from December of 2014 (showed a 9% increase), but still shows an increase nonetheless. 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 at least the short-term horizon, if not longer, into the new year.
In addition, available homes on the market are continuing to show a slight decrease, which has also occurred over the last several months, as well. Through January of 2015, as opposed to January of 2014, the number of available homes did decline by 3%, or reflects a decrease of 146 homes in terms of available inventory, which is still one of the largest declines of available inventory seen in at least the last couple of months in the local Great Smoky Mountains real estate market. This is still largely in line with the latest national real estate trends, which also shows a decline in available home inventory as a whole. This may foretell that with declining inventory, the local market is beginning to show some possible movement towards more people wanting to buy the many available properties currently on the market, and with higher home prices, more people are feeling a greater sense of confidence in placing their homes for sale on the market. We will continue watching to see if this particular trend continue, and see what it does for the real estate market as a whole, both here locally, as well as nationally, into the new year.
As the 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 gradual, but steady, growth that has been seen now for over the last few months, and is expected to continue into this new year. 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 see what the Smoky Mountains area have to offer for you today? You can also browse our Team website further to learn more about The Jason White Team today, and see how we can help you make your home ownership dreams a reality today!
Our Featured Properties for Thursday, February 5, 2015:
Incredible, 4 BD, 5 1/2 BA, Log-Style Home Adj. to the Nat’l Park. Has made right at $60K in rental income consistently since 2010. Enjoy total privacy & luxury, while taking in the relaxing sounds of the Little Pigeon River & amazing, beautiful views of the Smokies. Incl. 4 luxury Master Suite BD’s, a Large Rec Rm, a private, sound proof theatre rm, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & much more – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $597,000 For more information >
Pristine, 5 BD/5 BA, Mountain Estate w/Majestic Mtn. Views & Close to Gatlinburg. An 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. Only a 3 mile walk on a natural trail leading from this property to dwtn. Gatlinburg, & just mins. to Ober Gatlinburg. You’ll never find another unique property like this one – come see it before it’s too late! Type: Single-Family Home Location: Gatlinburg, TN Price: $497,000 For more information >
Luxurious, Spacious, 5 BD/5.5 BA Log-Style Chalet Only Mins. to Dwtn. Gatlinburg. Made over $59K in rental income in 2014 alone; has great rental potential. Home incl. 3 large deck lvls. from which to enjoy amazing views of Mt. LeConte & the Smokies, along w/each BD Suite having its own Private BA & Closet, a Large Living Rm, & much more. Only mins. to dwtn. Gatlinburg & the attractions; a luxurious home in a great location – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $430,000 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
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