Smoky Mountain - Market Statistics

Today is already the first week of May! The year is already more than a quarter gone. I thought you might be interested in some statistics:

Year to date as compared to same period last year in Sevier County:
Jan 1, 11 - May 6, 11 -- - 372 homes sold
Jan 1,10 - May 6, 10 -- 478 homes sold

The decrease in homes sold is 106 homes. Down about 22%.
The average sale price so far this year is around $176,740.00

The average sale price this time last was around $181,556.00

Not a big difference in average sale, sales are predominately, under $200,000.

The average sales price to list price ratio is almost 93%. Looks like negotiations are about 7% off list price.

Days on market is around 195 days.

46% of houses expire on the market and are not sold. The market is very competive right now. Price is still everything. It is still and probably will be for a while a buyers market.

There are 3806 homes on the market right now.

Last year this same time there were 3541.

We have 265 more homes on the sale right now from last year. Up about 7%.

From what we can see the inventory for quality/well priced cabin type homes is down. The good deals on cabins are far and in between and the price/sq ft has climbed some. A year ago or even 6 months ago we could find a good deal on cabin for under or a little over 100.00 a sq ft. Now we are well above $110.00 a sq/ft or higher.

Buyers don't get discouraged though there are great deals out there. What is more important right now is that you are ready and willing to go! Waiting, figuring things out, checking this or that will loose the deal. Put it in contract and let your contingencies work for you!

Call us today for the full foreclosure list.


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