Although the preliminary number shows fewer residential sales than were recorded a year ago, the “flash” report tally is actually quite respectable. Each month when I report on Gatlinburg area residential sales, I always caution readers that the final number will be somewhat higher and it will certainly again be true. The early report always understates the eventual total and sometimes by a fairly high figure. That is why I can predict that Smoky Mountain area residential real estate October 2014 sales will likely actually exceed those from a year ago, even though that isn’t what the reports show today. Here is the preliminary table, based upon results obtained this morning from the Great Smoky Mountain Association of Realtors:
I am confident because of the fact that the preliminary number for October 2014 is only 14 units shy of the final total reported a year ago. For a very recent example, when I first reported on September’s sales, the report showed a horrible performance of only 142 sales. When all of the smoke cleared eventually, the total was MUCH higher at 172 homes and condos sold. My guess is that we will exceed 200 total residential units sold during October 2014 and that will be enough to give us a positive month which we really need at this point. Although one month or even two don’t a trend make, when you start talking about 3 consecutive months in the same direction that does start to look like a trend…