For the past several months, the local & national real estate markets have experienced a continuous, but steady, growth in several key real estate market categories. As we look at the statistics for the Great Smoky Mountains real estate market through April 2016, we find that our local market continues to reflect the trends of gradual and continuous growth both here locally and nationally. We have come to see this trend for some time now. The numbers below will reflect that continued growth for April 2016 as compared to that of April 2015.
In the category of Residences Sold, we see that comparing April 2016 to that of April 2015, the number of residences sold increased by 19%, as 257 more homes were sold at the end of April 2016, as opposed to April 2015. This vigorous growth is largely in line with the continued growth in this same category that we have experienced for the past several months. We fully expect this trend to continue in this category.
In the category of Residential Dollar Volume for April 2016, versus April 2015, we also see an increase of 24%. This continues to reflect a consistent and steady climb with a high percentage growth from year-to-year. This statistic shows the largest increase in this category for the past several months. This trend shows the consistently higher home prices that have been taking place over the past couple of years on a national scale.
Sellers continue to experience good news in the category of Average Sold Price. For April 2016, compared to that of April 2015, the average sold price shows an increase of 5%, which, also reflects a steady and consistent growth of a stronger local market in this category. As confidence continues to grow in both local and national markets, we expect that this upward trend of higher home prices will continue in the forseeable future.
Finally, the available homes on the market continue to show a steady decrease, which the market has reflected over the past several months. Through April 2016 versus April 2015, the number of available homes has declined by 7%, which is a decrease of 329 homes in available inventory. This same trend for available inventory has occurred for the past several months. This is in-line with the national real estate trends. With this declining inventory, the local market is showing signs toward more people wanting to buy the available properties currently on the local market, and that with higher home prices, more people may feel a greater sense of confidence in listing their homes for sale, along with a increased interest in buying what inventory is currently available.
As the market continues to experience this growth, both locally and nationally, the market statistics are expected to experience a gradual growth for the forseeable future through the remainder of 2016. Mortgage rates still remain at historically low levels, and there are still plenty of housing options to choose from, especially here in the Great Smoky Mountain real estate market. To start your Great Smoky Mountain home search today, take a look at just some of our featured properties and see what the Smokies have to offer you! Turn your home ownership dreams into a reality.
Our Featured Properties
This high quality, totally private, custom built 5,231 sq 4 BD/3.5BA home sits atop 9.78 acres with outstanding views of the Smokies. Thoughtfully designed and elegantly crafted using native materials, the main floor features a large master bedroom and bathroom Suite that opens onto the deck, an eat-in gourmets kitchen, cathedral-like great room featuring a stacked stone masonry fireplace among a wall of windows, half bath, laundry room and an oversized two car garage. The upper level boats a loft/library and second bedroom suite. The walkout basement rests on a poured concrete slab and features a massive game room, wet bar, 2 BDs, a full bath and loads of outdoor space and extra storage. Quality materials include casement windows, hand-laid native stone, hardwood flooring, granite tops, stainless steel appliances and a hand-made front door, along with a gated entrance. This home is a jewel not to be missed
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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