March Madness II

March has come and gone but Smoky Mountain real estate sales are still being reported as of this morning. This ISN'T an April Fools joke, we may get up to triple digits for the total number of residential transactions recorded during the month by the time all of the dust settles. The MLS database for our Gatlinburg area real estate market currently shows 81 residential units sold during March and I personally have 3 transactions that closed yesterday that we haven't had time to enter into the system. Assuming we aren't the only ones who had a good month it stands to reason that there are quite a few transactions yet to be reported. While the 100 sales threshold is much better than several recent months have been we are a long way off of previous years such as 2006 when March residential transactions totaled 277 or even a year ago in 2008 when there were 121 sales reported. Still, the hoped for total of 100 homes sold is much better than January's 72 or February's 69 sales which were nothing other than depressing.

On a personal note, I had 10 sales in March that closed successfully and for 2009 now have a total of 31 transactions closed or pending. Our Schoenfield Team buyer specialists, Suzy Compton-Hays, Mark Hays, and Cindy Hopson have several more sales that they have made. April looks to be a very good month as well with a lot of pending transactions already. As volume picks up, prices should soon reverse their backward movement and follow suit. We are all looking forward to a continuation of the rebound (pardon the basketball pun) that we enjoyed this month. No fooling, April looks to be an excellent month for Gatlinburg, Pigeon Forge, Sevierville, and the entire Smoky Mountains area of Tennessee real estate!!


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