Complete real estate information about the Gatlinburg area real estate market and everything related to it including Pigeon Forge and Sevierville as well as the rest of Sevier County and our Great Smoky Mountain National Park area. Current market statistics and new listings including foreclosures are also highlighted here.
Goodbye 2008, Hello 2009!
While many, if not most agents are glad to see 2008 end it wasn't that bad a year for us. With 52 closed sales totaling over $10 million in volume in 2008 I did manage to feed the family and pay the bills (though I have had better years). Sadly, many Gatlinburg/Pigeon Forge/Sevierville area real estate agents were forced to leave the business in 2008 and I strongly suspect that more will exit in 2009 as our market continues to be challenging.
On a somewhat happier note the preliminary numbers are in for December 2008 sales and for the first time since May there was a significant month-to-month increase in overall units sold by the members of the Great Smoky Mountains Association of Realtors. The 500 or so area agents combined for a total of 84 residential unit sales in December. While still sharply below the other 10 months of this year the results were superior to November's heartbreaking 65 total home sales. Also, there will likely be a few more sales reported in the next week or so as agents get around to posting the final tallies for 2008. My estimate is that our board will, when all the sales are counted, finish with about 90 December sales give or take a few. This is still sharply below Decembers of previous years but at least better than November's results.
If my estimate ends up being accurate, total residential sales for 2008 will end up being nearly 1400 total units which is a depressing 38% below our area's total number of sales closed in 2007. The tally for 2007 was in turn 18% below 2006's results which came in just 8% under the record unit sales (2970) recorded in 2005. For a table and graph of all of these numbers please follow this link.
My Gatlinburg area real estate forecast for 2009 is that sales will continue to be slow but hopefully will continue the uptick that we experienced in December. Foreclosures remain a large part of the equation and will continue to be a significant factor in 2009 and possibly beyond. It is still a great time to be a buyer of Smoky Mountain real estate and a difficult situation if one has to sell.
Stay tuned for big news coming soon to this blog space...
Every once in a while, an opportunity arises that we just can't pass up and this fantastic log sided home certainly fell into this category. Private, without another home anywhere in sight, this 3-bedroom, 3-bath house with 3 master suites is located in the coveted Pittman Center area and is perfect as either a residence or a vacation home.
This stunning property features over 280 feet of pristine riverfront on the beautiful cascading white water of the Little Pigeon River and this is no postage stamp sized lot either. It is actually a huge parcel of just under 4 acres. From either of the full length decks, you can view & listen to the beautiful rushing river below. Inside, there is also plenty of room to spread out, with over 3,000 square feet of heated & cooled living space, with large rooms and lots of glass.
Should you ever become tired of being alone, Dollywood is less than 20 minutes away but you would never know it from how perfectly peaceful this location is:
We have recently listed 4 otherwise unrelated Smoky Mountain true luxury properties in Sevier County and these estates are absolutely breathtaking. Whether you are looking for an incredible view from a huge mountain side home overlooking Gatlinburg, a spectacular 100+ acre horse farm estate in the Wears Valley area of Sevierville, the landmark Gatlinburg Castle, or just desire your own massive pristine property surrounded by the State and National Forests, we can satisfy your urge to own an undoubtedly unique Smoky Mountain estate. Click on the caption under each of the pictures below to be directed to a full description of these remarkable Gatlinburg area estate properties.
Gatlinburg area sales rocketed past January 2016's tally and we haven't even got all of the sales reported yet. Because this is only the preliminary total, we could rocket past 2006's red-hot all time record of 210 sales. Here is the initial report of January 2017's blistering sales pace for Smoky Mountain residential real estate sales:
Because of some MLS data errors, January's average sales price is not shown on the report above, but hopefully will be soon...