New Statistics Available for Gatlinburg Area Real Estate
(Bad News – Good News)
I have, through the Great Smoky Mountain Association of Realtors MLS database, compiled a very thorough (possibly too much information) summary of year to date sales for our local real estate market. The report can be viewed on our primary website at this link.
Although you really have to be a numbers fan to appreciate this sort of thing, the data is clear. Real estate sales for Gatlinburg, Pigeon Forge, Sevierville, and all of our market as a total are down sharply when compared to the same period a year ago.
The good news is that I am having my most productive period of the year during October. With 10 sales closed or pending October will in fact be better than any two other months of 2008. Why is October so much stronger? The answer is that the banks and other sellers are finally starting to get prices right and these properties are now selling. It is still a great time to be a buyer and an extremely challenging period to be a seller. In spite of this my overall volume is dramatically better than it has been in a very long time. The last time that I personally had double digit sales in a single month was November of 2005 so we are very, very grateful for the month we are having. Many of my real estate friends are really struggling and some are even losing their own houses to foreclosure so we are indeed saying prayers of thanks to our Lord!