Because Saturday (today) is the end of the month most all July real estate transactions were completed yesterday. Although I have seen a Saturday closing, they are VERY uncommon in our Gatlinburg area real estate market. As I always remind readers, there will be several more closings reported by Sevier County (and the surrounding areas) Realtors during the next couple of weeks but we do now have a preliminary total for July residential sales reported by our Great Smoky Mountain Association of Realtors. The very early result is a paltry 109 residential units sold by the more than 400 members of our board. My guess is that the final total will be approximately 130 homes and condos sold but that is still well below July 2009’s final total of 145 sales.
Although there could be more late reported sales than I am anticipating, I seriously doubt that we will exceed July 2009’s tally. That is very disappointing because it means that a 12 month long consecutive string of year over year advances in unit volume will be broken. You can see the details below or click here to view a clearer copy of the document online.