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 June 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 June of 2015, as compared to those one year ago, in June of 2014.
In the category of Residences Sold, we see that in comparing June of 2015 to that of June of 2014, the number of residences sold actually increased by 6% in terms of homes being sold, as there were 81 more homes that were sold as of the end of June of 2015, as opposed to June of 2014. This figure is actually higher, as compared to that of the previous month in this same category, and shows that the sales market locally remains fairly steady and is actually growing to a degree. While too early to tell if this will remains as such, this figure does show continued good news for sales locally in a general sense.
In the category of Residential Dollar Volume from June of 2015, as opposed to June of 2014, we see an increase of 14% in terms of dollar volume through June of 2015, as compared to June of 2014. This category does show the same percentage as the previous month, showing that there is continued growth in this category. 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 June of 2015, as compared to that of June of 2014, average sold prices show an increase of 8%, 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 June of 2015, as opposed to June of 2014, the number of available homes did decline by 3%, or reflecting a numerical decrease of 157 homes in terms of available inventory, which is still one of the larger 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 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 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, July 2, 2015:
Private, Secluded, 2 BD/2 BA Cabin, Located Adj. to Pittman Center. Ideal as a permanent or 2nd home, or as an overnight rental. This rustic-style cabin sits on nearly 4 acres of private land, w/a great partial view of the Smokies & borders the Nat’l Park. Home includes a Large Living/Dining Rm, full Kitchen, each BD having its own Private Closet space, a Large Lower Level Den/Rec Rm, & much more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions, along w/being adj. to Pittman Center. A great location & value – come see it today! Type: Single-Family Home Location: Sevierville, TN Price: $159,900 For more information >
Well-Built, 2 BD/2 BA Log-Style Home Located Only Mins. to Dwtn. Gatlinburg. Made $16K in rental income for 2013, & made $26K in rental income for 2014; has great rental potential. This home is w/in easy walking distance to nearby area schools, Mills Park, City Trolley stops, & Rocky Top Sports World, among other attractions. Home includes a Large Living/Dining Rm, Full Kitchen, each BD having its own Private Bath & Closet space, spacious Loft, & more. Set in a relatively private location, but also close to Gatlinburg’s many attractions. A great location & value – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $225,000 For more information >
Private, Spacious, 2 BD/3 BA Log Cabin Located in Beautiful Pittman Center. Made near or above $20K in rental income in each of the last 3 yrs. alone; has great rental potential. Sits on nearly 2 acres in a very private & beautiful setting, creating a beautiful setting for enjoying the Smokies. Incl. a Large Living Rm, spacious Loft, Lower Lvl. Great Rm, & great views of the Smokies. Nestled in a very beautiful, wooded area, this home is only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions – come see it for yourself today! Type: Single-Family Home Location: Pittman Center, 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