For the fourth month in a row our Great Smoky Mountain Associatioon of Realtors had more residential real estate sales than we did during the equivalent month in 2008. Keep in mind that the end of 2008 was a very bleak period indeed and we have only passed last year’s total by a single unit sale as of today. The 116 Gatlinburg area residential real estate sales that have already been reported as of November 3rd will likely finish around 120-125 units as more sales are reported over the next couple of weeks by real estate agents from our Smoky Mountain community.
What does this mean you ask? It does look like we have begun to turn the corner at least for volume and that has to happen before prices can begin to increase. While we won’t likely exceed 2008’s full year volume it does appear that we will do so for the latter half of the year. Although nobody can say for sure when prices will start to go up we appear to be setting the stage for that to occur. Here is my report for October’s sales but if you want to see a clearer version that will be regularly updated with the updated values click here.