April 2011 Residential Real Estate Sales Disappoint (for Now at Least)

Taking a look at the sales that have been reported by our Great Smoky Mountain Association of Realtors for the month of April, it is hard not to be just a little disappointed.  While it is very early on the first business day after the end of the month and more sales are sure to be reported in coming days, the total number of homes sold in April was only 102.  This is a significant drop from both March and from the April 2010 total.  Of course, last year we were enjoying the benefits of the government's first time home buyer incentive which certainly caused additional activity.  Here is the updated chart which you can click on to view the table in a clearer PDF format:
While I expect the total be revised upward to around 125 this is still a decrease no matter how you measure it.  We will be providing additional analysis of the market and what is selling in a future post.  In a perverse, "bad news is good news" sort of way, additional foreclosures are coming out soon which will create more bargains for value conscious buyers.  If you are looking for a great opportunity to purchase Gatlinburg area real estate for much less than you could build it for, please contact us!

Comments

Well, that result was really disappointing. I hope it will increase by the following month. Thanks for sharing.

-pia-
Ray Brickman said…
Its really disappointing. But soon you'll be able to increase your sales. God Bless

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