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.
Looking for Listings!
Our market is severely lacking affordable residential real estate listings. In fact, the under $200,000 segment of our Sevier County residential market has very few suitable properties available for sale. For example, if you are searching for a 3 bedroom (or more), 2 bathroom (or more) home with at least 1500 square feet of finished space, for under $200,000 there are only 36 total listings available in Sevier County that match these specs. Furthermore, the median asking price of these listings is over $186,000. There just isn't much available and this is one major reason why sales have slowed. There just isn't enough inventory available for buyers to consider. My, how the market has changed compared to a few years ago when it was such a buyer's market!
If you are even thinking of selling, now is a great time to list your property. Please let us know if you would like to chat about what your property can bring in today's market!
Last month, I expressed some concern that our 2012 winning streak for Smoky Mountain residential real estate sales was going to be broken. Unlike the first 8 months of the 2012, September's results did NOT exceed those of September 2011. I also reminded readers that one month does not a trend make and that we would need to wait a couple of months to get a clearer indication of where our Gatlinburg area real estate market was headed. That caution turns out to be quite well thought because the latest residential sales results for our Gatlinburg area real estate market seem to be much better, with the early results already being better than most recent year's October results. Here is my preliminary table showing the good news:
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...
This post is late because we are absolutely slammed. For the second month in a row, Gatlinburg area real estate sales have set a monthly record and the hot market shows no signs of cooling yet. Going all the way back to the peak of the market in 2005/2006, we have NEVER had a better February than we had in 2017. Same is true for January of 2017. Even the horrendous wildfires of November 2016 haven't slowed the pace of Smoky Mountain real estate sales. Although last year's start was pretty good (better than any previous January & February all the way back to 2006), 2017 is a full 17% ahead of last year's tally. Prices are moving up too - It's amazing what $125,000 won't now buy in Sevier County. Here are the stunningly strong numbers:
The market is strongest at the bottom end, but even the expensive houses are selling well too and there just isn't much supply. From Sevierville to Cosby, including all points in between, Sevier County real estate is rocking. I…