For over the last eighteen months or so, the local & national real estate markets have reflected a steady, but gradual, growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through August 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 growth that we also see nationally, and have seen for some time now. Let’s now see what the numbers have to say for August of 2015, as compared to those one year ago, in August of 2014.
In the category of Residences Sold, we see that in comparing August of 2015 to that of August of 2014, the number of residences sold increased by 2% in terms of homes being sold, as there were 19 more homes that were sold as of the end of August of 2015, as opposed to August of 2014. This figure is actually less than the previous month in this same category, but this still shows that the sales market locally remains fairly steady and growing to a degree, in spite of the lower percentage and numbers for this past month, as compared against that of 2014.
In the category of Residential Dollar Volume from August of 2015, as opposed to August of 2014, we see an increase of 10% in terms of dollar volume through August of 2015, as compared to August of 2014. This category does show a continued higher percentage from year-to-year, showing that there is continued, strong growth in this category. This continues to show a continued local, as well as national, trend of relatively steady, stable growth in terms of this category, as well, and continues to reflect the consistently higher home prices that have been taking place for over the last eighteen months now on a national scale.
There is also continued good news for sellers in the Average Sold Price Category. For August of 2015, as compared to that of August of 2014, average sold prices show an increase of 8%, which continues to show steady and consistent strength in this category on average, reflecting a stronger local market in this category. As confidence continues to 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.
In addition, available homes on the market are continuing to show a trend of steady decreases, which has also occurred over the last several months, as well. Through August of 2015, as opposed to August of 2014, the number of available homes did decline by 10%, or reflecting a numerical decrease of 466 homes in terms of available inventory, which is the largest decline in local inventory seen throughout the year to date. This is largely in line with the latest national real estate trends, which also shows a gradual 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 continues, and see what it does for the real estate market as a whole, both here locally, as well as nationally.
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 largely expected to continue through the remainder of 2015. 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 Smokies area have to offer for you today? You can also learn more about The Jason White Team, and see how we can help you make your home ownership dreams a reality today!
Our Featured Properties for Thursday, September 3, 2015:
Luxurious, Beautifully-Decorated, 4 BD/4 BA Log Home Located in Chalet Village. Current rental income and reservations are over $41K as of this year alone; has great rental potential. Has amazing views of Mt. LeConte & the Smokies, Large Living Rm, Combination Gourmet Kitchen & Dining Rm, 2 Master Suites, 2-car attached garage, & much more. Has easy access to city-maintained roads & services, & only mins. to dwtn. Gatlinburg, Ober Gatlinburg, & Nat’l Park. Come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $529,900 For more information >
Cozy, Well-Located, Rustic-Style, 3 BD/2 BA Chalet Located Only Mins. to Dwtn. Gatlinburg. Ideal as a permanent or 2nd home, or as an overnight rental. Has a gently flowing mtn. stream below this home, along w/being in a beautiful, wooded setting, while also close to the action of Gatlinburg. Home includes a Large Great Rm, each BD w/its own Private Closet space, a Loft area w/Small Den, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions; a great home & value – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $159,900 For more information >
Private, Cozy, 3 BD/2 BA Cottage-Style Home Located in Chalet Village, & Only Mins. to Dwtn. Gatlinburg. Ideal as a permanent or 2nd home, or as an overnight rental. Very well-built & maintained home, both inside & out. Includes an outside, covered wraparound deck, along w/a Large Living Rm, Master BD w/Adj. Master BA, two BD’s upstairs (one currently used as a Rec Rm), lots of extra storage & closet space, & more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great, privately located home w/lots of potential – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $139,900 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
E-mail Address: firstname.lastname@example.org