I have compiled statistics for Q1 2007 real estate sales from the Great Smoky Mountain Association of Realtors and the results are not surprising. Like much of the United States, our Gatlinburg area real estate market continues to be challenging. Here is a quick summary:
2005 First Quarter Total Residential Units Sold: 585
2006 First Quarter Total Residential Units Sold: 682
2007 First Quarter Total Residential Units Sold: 574
When rental cabin type properties are searched, the results are more dramatic:
2005 First Quarter Log or Wood Exterior Residential Units Sold: 241
2006 First Quarter Log or Wood Exterior Residential Units Sold: 286
2007 First Quarter Log or Wood Exterior Residential Units Sold: 192
Our market continues to be in an over supply situation and this makes accurate pricing more critical than ever. Buyers have lots of properties to consider and only well priced properties are selling. I have been very blessed to have an excellent start to the year with over 20 properties sold or pending so far this year but most agents in our market have not been nearly as successful.
If you are looking for professional real estate service in the purchase or sale of Smoky Mountain real estate, please contact me at Jeff@GatlinburgHomes.com. We cover the entire Sevier County area from Seymour to Cosby including the communities of Kodak, Sevierville, Pigeon Forge, Gatlinburg, and Cobbly Nob.