Now that most all of the Gatlinburg area residential sales from July have finally been posted by the local real estate agencies of our board, it is clear that it was a most excellent month in every respect. Not only were July home sales as reported by our Great Smoky Mountains Association of Realtors Multiple Listing Service the highest of 2014, they were a full 16% above the very respectable total from July a year ago. Further, you have to go all the way back to May of 2007 (pre-crash) to find ANY month with more units sold. We’ve been watching a slow improvement of our Smoky Mountain real estate market for years, but, in July at least, the improvement was anything but slow!! Here is the table for your review:
If this sort of growth in the number of units sold continues, there will very likely be significant price appreciation as well. We have already seen some upward movement in prices but this sort of volume jump will very likely push prices higher. As someone who has nearly their entire retirement invested in local real estate, this is very good news indeed! If you don’t own any Smoky Mountain real estate yet, what are you waiting for??