As to what is selling I would still have to say primarily foreclosure properties. While non-foreclosure units are selling only properties that offer really strong value make up the balance of the sales. This is not at all a market that tolerates inflated unrealistic price levels that were commonplace two or three years ago. It’s a great time to be a buyer but still a very difficult time to be a seller of Gatlinburg area real estate.
The initial results for April’s residential sales as reported by our Great Smoky Mountain Association of Realtors are in and the preliminary number is 92. While the final number will likely end up around 100 or better after all of the dust settles this still isn’t really good news when compared to previous year’s April residential sales for our Gatlinburg/Pigeon Forge/Sevierville and surrounding area market. For those of you who are keeping track here is the latest grid showing monthly residential units sold:A link to a more legible version can be obtained by clicking on the chart above. By the way the number of real estate sales currently reported in Sevier County for the month of April was only 73 but again, this number will also increase during the next few days as all sales are reported. For more complete numbers check back with us a week from now by which time most agencies will have gotten around to posting their April 2009 residential real estate sales.