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.
Smoky Mountain Real Estate Supply Decreasing?
A couple of years ago when our market's sales volume bottomed out, our months of supply value was actually THREE YEARS! Now that our Gatlinburg area real estate market has picked up somewhat, the values have changed. Based upon the 847 residential (home, cabin, condo, and mobile home listings) units that local members of our Great Smoky Mountain Association of Realtors MLS reported as sold for the period November 1, 2010 to May 31, 2011, and our board's supply of 3274 active residential listings currently on the market, I calculate our overall current residential supply at 1.93 years. Although still very high, this is significantly below the value that we saw previously and will hopefully continue to come down. Keep in mind that a 6 MONTH supply is considered by most analysts to be a balanced market so we still have almost 4 times the normal supply that you would expect in a balanced market.
Two factors have combined to cause the improvement in the years of supply calculation. The number of sales have increased from the abysmally low values from 2008-2009 and the number of homes on the market has also decreased. The combination results in a 1/3 reduction in the current supply of homes available on the market today. This number is very important as it is a measure of the market's leaning either in favor of buyers or in favor of sellers as it was during the peak boom period years of 2004-2007. Our predominantly second home market has certainly come through a rough patch but things to look to be improving all be it slowly. Kind of like the economy as a whole...
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...