For over the last eighteen months or so, the local & national real estate markets have reflected a gradual and steady growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through September 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 September of 2015, as compared to those one year ago, in September of 2014.
In the category of Residences Sold, we see that in comparing September of 2015 to that of September of 2014, the number of residences sold increased by 15% in terms of homes being sold, as there were 215 more homes that were sold as of the end of September of 2015, as opposed to September of 2014. This figure is actually one of the largest, if not the largest, increase in sales seen so far this year, when comparing a month in this year (2015), as opposed to the previous year (2014) in the same calendar month. Quite an increase, for sure, when comparing September 2015, to that of the year before, in September 2014 – all of which shows a continued strength in this particular real estate category.
In the category of Residential Dollar Volume from September of 2015, as opposed to September of 2014, we see an increase of 22% in terms of dollar volume through September of 2015, as compared to September of 2014. This category does show a very high percentage from year-to-year, showing that there is continued, strong growth in this category, along with reflecting the strongest growth year-to-year so far to date in 2015, as compared to that of 2014. This continues to show a continued local, as well as national, trend of relatively steady, stable, and even robust growth in terms of this category, as well, and also 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 September of 2015, as compared to that of September of 2014, average sold prices show an increase of 6%, which continues to show steady and consistent strength in this category on average, reflecting a stronger local market in this category, despite a slight decline in this category from that of the previous month. 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 September of 2015, as opposed to September of 2014, the number of available homes did decline by 4%, or reflecting a numerical decrease of 199 homes in terms of available inventory. This decline is not as steep as the previous month, but still reflects a continued decline in available inventory on the whole here in the local market, which has been occurring now for the last several months. 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 possibly wanting to buy the many available properties currently in the local market, and that with higher home prices, more people may start to feel 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, October 8, 2015:
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: $269,900 For more information >
Private, Well-Built, 4 BD/3 BA Chalet Located Only Mins. to Gatlinburg. Has made over $38K in rental income in each of the last 2 years alone; has great rental potential. Home includes a Spacious Living Rm, a combined Kitchen/Dining Rm, a spacious Loft that includes an Open Recreation Rm w/pool table, great views of the Smokies, and much more. Located only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions, along with being only 1/2 mi. of the Chalet Village Owner’s Club. A great location & mountain chalet – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $249,900 For more information >
Private, 2 BD/2 BA, Contemporary-Style Chalet Located Only Mins. to Dwtn. Gatlinburg. Has made over $21K in rental income in each of the last 2 years alone; has great rental potential. Home includes a Living Rm w/high, vaulted ceilings & a Beautiful Mtn. Stone F/P, along with each BD being a Suite-style BD w/Private BA, an outdoor Gazebo area w/a Hot Tub, a spacious deck area to enjoy the views of the Smokies, & much more. Only mins. to dwtn. Gatlinburg, the Nat’l Park, & the attractions. A great, private home & location – come see it today! Type: Single-Family Home Location: Gatlinburg, TN Price: $199,900 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
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