Realty-Smokies Team - your resource for Smoky Mountain Real Estate
including cabins, homes, & condos in Gatlinburg, Pigeon
Forge, and Sevierville!
to our website! We hope you'll find all of the information you need to begin the
road to home ownership, or to sell your property in the Smokies. If there's any
further information you need, or if you're ready to buy or sell, please don't
hesitate to contact us ... helping you achieve your goals is our specialty!
Beth, Brandi, & Mary Ann- The Realty-Smokies Team
Real Estate: 2017 Summary
finished 2017 with sales reflecting continued strong demand
for homes in our region, with the number of sales slowing and
prices rising due to reduced inventory:
1866 residential properties sold in Sevier County - up 6%
total residential volume was $$440,719,779 - up 19.8%.
The average price/square foot for sold properties was $123.66,
which suggests an appreciation rate of 10.1%!
6-month moving average price, which offers an excellent overview
of market direction, finished 2017 up 12.5% from the previous
are still feeling the impact of the 2016 wildfires in the area
economy, primarily due to the number of homes lost in both the
residential and tourist rental sectors. Though some impact to
tourism lingers, visitation levels are quickly returning to
expect our market's greatest challenge in 2018 will be continued
low inventory levels coupled with rising interest rates. Industry
economists expect rates to rise above 5% by the end of 2018, which
will decrease buying power on a conventional 30-year mortgage
by over 5% from today's level. This will eventually slow the rate
of appreciation, and suggests this is an especially opportune
time for current owners interested in selling their property.
contact us today for more information, and to discuss how
we can help you achieve your real estate goals.
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