Is the Smoky Mountain Market Changing? YES-- and here's how......
Here are some indicators of the Real Estate Market in Gatlinburg and Sevier County as a whole:
- The average SOLD price in Sevier County as a whole has risen 11.2% in the last 30 days. The per cent of asking price that buyers ended up paying was 92.6% of the asking price. This indicates that list prices are coming into line with market expectations.
- The average SOLD price in Gatlinburg has risen 4.2% in the last 30 days with the per cent of asking price paid being 91.6%
- The most sales have occurred in the $150,000 to $200,000 range with the average sale price in Gatlinburg being $207,218 and in Sevier County being $178,265.
What does this mean? It means that if you are shopping in the $150K to $200K range, you can expect some more competition than in other areas of the market. "Deals" that come on the market in this price range may generate multiple offers very quickly.
In addition, list prices are coming into line with the market at an increasing rate. This means that "low ball" offers may not be as successful as they have been in past months.
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