Through the first half of 2014, we have seen the local and national real estate markets reflecting slow, but steady, growth throughout many real estate market categories, including, but not limited to, home prices. As we look at the statistics for the Great Smoky Mountain real estate market through June of 2014, we will see that these trends, particularly in the Great Smoky Mountain real estate market, continue to show the same general trends of slow, but steady, growth that we are seeing nationally. Let’s now see what the numbers have to say for June of 2014, as compared to those one year ago, in June of 2013.
In the category of Residences Sold, we see that in comparing June of 2014 to that of June of 2013, the number of residences sold increased by 3% in terms of homes being sold, in that 44 more homes were sold as of the end of June of 2014, as opposed to June of 2013, which remains unchanged from last month, reflecting the same percentage in this statistical category. This reflects a general trend of steadiness, as well as gradual growth, in the real estate market as a whole, and as we look at the rest of the statistics, we will see that the local market does indeed continue to reflect this same general trend of steady and slow growth, with respect not just to Residences Sold, but in other real estate statistical categories, as well.
In the category of Residential Dollar Volume from June of 2014, as opposed to June of 2013, we see an increase of 10% in terms of dollar volume through June of 2014, as compared to June of 2013, which is up from last month’s increase of 8%, but continues to reflect a general upward trend in terms of Residential Dollar Volume throughout the year so far. This shows a continued local, as well as national, trend of relatively steady growth in terms of this category, possibly continuing to reflect the higher home prices that have been taking place for a year or so now on a national scale.
There is also continued good news for sellers in the Average Sold Price Category. For June of 2014, as compared to that of June of 2013, average sold prices show an increase of 7%, which is an increase of 2% from that of last month, reflecting a continued trend of gradually higher average home prices on both the local & national levels, which has remained largely constant for the past year or so. As confidence continues to slowly grow in both the local and national markets, we foresee that this relatively steady trend of higher home prices will likely continue for the foreseeable future.
In addition, available homes on the market are continuing to show a slight decrease, which has also happened over the last couple of months, as well. Through June of 2014, as opposed to June of 2013, the number of available homes remained unchanged percentage-wise, but did decrease by 23 homes in terms of available inventory in terms of actual numbers. This actually is still largely in line with the latest national real estate trends, which also shows a small decline in available home inventory on the whole, as well. It remains unknown if this decreasing trend in available inventory will continue, but this trend of decreasing inventory certainly bears watching to see if it will, in fact, continue.
As 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 slow, but steady, growth that has been shown for over the last year or so. 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 seeing what the Smoky Mountain area has to offer for you? You can also “Like” us on our Facebook page, or you can browse our team website further, to learn about The Jason White Team! Let us help you make your home ownership dreams a reality today!
Here Are A Few of My Featured Properties:Private, Spacious, 5 BD/4 BA Contemporary Home Located in Norton Creek, w/Amazing Views of Cove Mtn. – New Listing! Ideal as a permanent or 2nd home; also has a potential income-producing lower level apt/in-law suite. Situated on 2+ acres; home has been recently updated & remodeled, incl. Large Living Rm w/a Massive Mtn. Stone F/P, spacious Loft, fantastic Master BD/BA Suite, & more! Only mins. to Gatlinburg, Pigeon Forge, & the attractions! Very private, & well-maintained home, all set in a beautiful, wooded setting! Type: Single-Family Home Location: Gatlinburg, TN Price: $325,000 For more information > Well-Maintained, Spacious, 3 BD/3 BA Log-Style Home, w/Very Large, Well-Designed Front Yard – New Listing! Ideal for a permanent or 2nd home, or as an overnight rental; w/in walking distance to nearby area schools. Home incl. Large Living Rm w/Massive F/P, Full Kitchen, spacious Loft, complete w/Private Master BD/BA Suite & Den, & 2 large decks,, along w/easy access to city-maintained roads & services. Also only mins. to dwtn. Gatlinburg & the attractions; very spacious & well-maintained home – come see it! Type: Single-Family Home Location: Gatlinburg, TN Price: $295,000 For more information > Very Quiet, Private, 3 BD/2.5 BA, Contemporary Ranch-Style Home w/Backyard Views of Mt. LeConte & the Smokies – New Listing! Ideal permanent or 2nd home, & is move-in ready, w/new wraparound deck, new A/C, new roof, & updated kitchen. Incl. nearly 1 acre of land; has Large Living/Dining Rm, spacious Sunrm, & Breakfast Rm/Nook. Adj. to Gatlinburg’s Arts & Crafts Comm.; only mins. to dwtn. Gatlinburg. Great home; lots of privacy, peace & quiet – come see it! Type: Single-Family Home Location: Gatlinburg, TN Price: $264,900 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