For over the 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 April 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 April of 2015, as compared to those one year ago, in April of 2014.
In the category of Residences Sold, we see that in comparing April of 2015 to that of April of 2014, the number of residences sold actually increased by 5% in terms of homes being sold, as there were 75 more homes that were sold as of the end of April of 2015, as opposed to April of 2014. This shows a more robust growth than the previous month, for sure, and may indicate continued growth & strength in home sales, though it is too early to say if this will continue and be sustained at such a level, but it does show continued good news regarding home sales for the year so far, and possible strengthening of the local real estate market, at least in this category.
In the category of Residential Dollar Volume from April of 2015, as opposed to April of 2014, we see an increase of 13% in terms of dollar volume through April of 2015, as compared to April of 2014. This category also shows a marked increase from the previous month, showing that there is continued growth in this category, possibly even more than in previous months, as well. This continues to show a continued local, as well as national, trend of relatively steady growth in terms of this category, and continues to reflect the 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 April of 2015, as compared to that of April of 2014, average sold prices show an increase of 7%, which continues to show 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 March of 2015, as opposed to March of 2014, the number of available homes did decline by 4%, or reflecting a numerical decrease of 194 homes in terms of available inventory, which is still one of the largest declines in local inventory seen throughout the year to date. 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 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 into the coming summer 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 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, May 7, 2015:
Spacious, Amazing Mountain Chalet, Used As 5 BD/4 BA, Only Mins. to Dwtn. Gatlinburg. Has made in the mid-$40K range in rental income consistently each year; has great rental potential. Home includes a Spacious Game Rm, a big eat-in Kitchen area, lots of decking, plenty of privacy, & amazing mtn. views, among other features. All of this is set in a beautiful, wooded setting; only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great home & location – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $299,900 For more information >
Beautiful, 3 BD/3 BA Mountain Chalet, Actually Used as a 5 BD, Only Mins. to Dwtn. Gatlinburg. Has made near or above $40K in rental income consistently each year; has great rental potential. Home includes a Large, Open Living Rm Area, a very spacious Recreation Rm, two decks with amazing mtn. views of the Smokies, and much, much more. Set in a beautiful, wooded setting, this home is 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: $279,900 For more information >
Well-Built, 3 BD/3 BA Home Located Only Mins. to Pigeon Forge. Has made over $27K in rental income in at least each of the 2 years alone; has great rental potential. This well-built home has each BD with its own Private Bath, a fully screened-in Porch, a Large Living/Dining Rm, Full Kitchen, Large Lower Level Recreation Rm, & more. Part of a well-established community, this home is only mins. to Pigeon Forge, Dollywood, & nearby shopping, as well as the many local attractions. A great home, location, & value – come see it today! Type: Single-Family Home Location: Pigeon Forge, TN Price: $229,900 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