Working the Supply Down Slowly

With my wife Karen at the beach with her best girlfriend for a few days I have had a little more time than normal to delve into our Gatlinburg area real estate market stats. As of today, there is a 2.93 YEAR supply of residential properties based on the pace of sales during the past 12 months. This includes all types of construction (log, log look, vinyl, brick, stone, etc.) and all categories (homes, condos, cabins, and mobile homes). If you break down the numbers a little further you can see that vacation homes have a significantly larger supply when compared to the past 12 months sales.

While there are certainly primary residences that are log and log look structures most of these properties are vacation homes. Since there is no clear marker in our MLS for a vacation home the best way that I have found to break these out is by specifying log or log look as the construction type. When the numbers are run for this sub-group the current on market supply is dramatically higher at 4.15 years. Once again, the largest glut of supply is at the fringes with 0/1 bedroom log and log look homes having a 4.52 year supply and 6+ bedroom log/log look cabins at a staggering 5.50 year supply. A table of these values is presented below:


Popular posts from this blog

Gatlinburg Area Real Estate For Millionaires Only!!

October Puts us Back in the Plus Column!

January Rocks!!!