The last several months have reflected a steady growth in several key categories in both local and national real estate markets. As we study the statistics for the Great Smoky Mountains real estate market, we will find that most categories have a considerate rise from last year. Let’s now see what the numbers have to say for June of 2016, as compared to one year ago.
In the category of Residences Sold, we see that in comparing June of 2016 to June of 2015, the number of residences sold increased by 19%. This year, there have been 292 more homes sold than that of last year. This figure shows a continually robust growth! We will see if this trend continues with any future statistics, although it sure shows a strong trend for residential sales as a whole.
In the category of Residential Dollar Volume, we see a generous increase of 23% compared to last year. This specific category does show a continued high percentage from year-to-year. The Great Smoky Mountains area has a trend of relatively steady, stable, and even robust growth in terms of this category, and continues to reflect the consistently higher home prices that have been taking place for over the last couple of years, even on a national scale.
There is also good news for the sellers in the Average Sold Price Category! When we compare June 2015 to June 2016, we will see that the average sold price has risen by 4%. This percentage increase proves a steady growth, reflecting a stronger local market. As confidence continues to grow in both Local and National markets, we foresee that this relatively steady and upward trend of higher home prices will likely continue.
In our final category, available homes on the market are continuing to show a trend of steady decrease, which has been occuring now for the last year. Through June of 2016, as opposed to June of 2015m the number of available homes has declined by 7%. This decline continues to show a marked decrease in terms of available inventory in our local market. This is largely in line with the latest in national real estate trends. This may foretell that with declining inventory, the local market is showing movement towards more people wanting to buy in the area. Sellers may feel more confidence in placing their homes on the market.
Why not start your search for your home in the Great Smoky Mountains Today? Please take a look at our Many Featured Listings and see what The Jason White Team can do for you!
1239 Ski View Drive – This home is truly one of a kind! 3 Bedrooms, 3 Bathrooms, 3,860 square feet. This home has beautiful views of the Smokies, a garage, even an elevator! Starting in the garage, you will walk into the recreation room complete with pool table, plenty of room for fun and games, and ample storage space. The second floor features two master bedroom style rooms, both with private baths and walk-in closets, and a shared fireplace. This level also includes a sunroom area with large windows, as well as a deck area, where you can see some truly breathtaking & beautiful views of the Smokies. On the next level, you have an open living room w/high, vaulted ceilings, as well as a shared large fireplace between the living room and kitchen/dining room with beautiful, black granite countertops in the kitchen area, as well as access to a second deck level, by which family, friends, & guests alike can enjoy those incredible mtn. views. On the top level, which is a loft, you have a third bedroom with an adj. bath, as well as an open den/office area, allowing for privacy & comfort at the same time. View it today!