June Sales Disappoint

Although we have been very busy, it appears that the pace of real estate sales has again slowed. In fact, although these numbers are preliminary and will certainly be rounded up, the initial report shows that Gatlinburg area real estate agents sold only 204 homes during June. There will be more sales added, but there is no way that we can catch up to the torrid pace of sales that we enjoyed during June of 2016. For the third month in a row, we will post a decline from the hard to match pace of sales from a year ago. Here is the bad news in graphic form:
The problem is a lack of supply, not a lack of demand. There are lots of willing and ready buyers out there but the inventory is sorely lacking at this point. Construction is one answer as is more owners deciding now is a good time to sell as prices are still rising. If inventory doesn't increase, there simply isn't anything available to show to buyers.

To put this in perspective, Sevier County residential real estate sales have not been below the year ago same month value for three consecutive months since 2011. Hopefully, sales will recover and we are still ahead of the pace of the first half of 2016. If this trend continues however, it won't take long to lose that edge...

Comments

Post a Comment

Popular posts from this blog

Everything You Always Wanted to Know about Smoky Mountain Water Wells but were Afraid to Ask!

Unlike more urban communities, many Smoky Mountain homes still have water supplied by individual underground wells. The fact is that only a relatively small (but ever growing) portion of our area is served by municipal utility water. This is rarely a problem as wells here in the Gatlinburg and surrounding area usually produce clear and good tasting water for significantly less cost than utility water once the one-time expense of drilling the well is covered. In fact, while there are certainly exceptions, our area is known for exceptionally clean and good tasting well water. More than one brand of bottled water is actually drawn from underground sources right here in the Smokies. What can go wrong you ask? Unfortunately, plenty! In those relatively rare cases where a well’s iron or sulfur content causes the water to be unsuitable, a water filtration system can generally be installed to remedy the situation. Water filtration can be as basic as a very inexpensive cotton string filter th
Read more

Comments Please!

I have had this blog since 2003 but didn't really get serious about regularly writing here until the beginning of 2007. I do truly enjoy the opportunity to share my thoughts about our local Gatlinburg area real estate market including the surrounding communities of Pigeon Forge, Sevierville, Seymour, Kodak, and Cosby. The only problem with writing any type of blog is that you really aren't sure just how many people are reading much less care about what you are pontificating about. If you are reading this blog, regularly or for the very first time, PLEASE comment me. It's easy, painless, and won't leave any sort of mark. In fact, you can even remain totally anonymous but yet let me know that you are out there. Like the age old question of "If a tree falls in the forest with nobody there to hear, does it make a noise?", a blog writer could wonder "If I write something meaningful but nobody reads it, does it matter?". If you like, you can even tel
Read more

Comments Please!!

Just wondering how many folks are out there reading this Gatlinburg real estate blog.  Please comment with your home town - You can even stay anonymous if you wish. If you want, tell me more about yourself (if you already own property in Sevier County or are just considering doing so, what you would like me to write about in the future, etc.).  Thanks in advance for your comments, whatever they might be!!
Read more