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 - The Realty-Smokies Team
Real Estate: 2018 Summary
finished 2018 with sales reflecting continued strong demand
for homes in our region, with the number of sales falling and
prices rising due to low inventory:
1661 residential properties sold in Sevier County - down 11%
total residential volume was $$437,901,350 - down 0.6%.
The average price/square foot for sold properties was $138.09,
which suggests an appreciation rate of 11.7%!
6-month moving average price, which offers an excellent overview
of market direction, finished 2018 up 11.2% from the previous
year, though it showed some weakness at the end of the year:
are still feeling the impact of the 2016 wildfires as reduced
inventory due to the number of homes lost in both the residential
and tourist rental sectors that have not been replaced - recent
estimates suggest just over 25% of the lost structures are in
some stage of replacement. The impact to tourism has dissipated,
with visitation and spending levels now in line with the pre-fire
expect our market will continue to be challenged by low inventory
levels coupled with economic uncertainty for the next couple of
quarters. 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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