The Derosia Team

WOW, 2012 is in the books.  The question is: How did the Smoky Mountains Real Estate Market end the year?  The Derosia Team has put together some statistics and visual aids to share with our readers. The first category we compared was residential units sold with the residential units listed in the year of 2012. As you can see there were 117 more units sold in 2012 than in 2010.  There were 131 more units sold in 2012 than in 2011. The total units sold are up 10% from 2010 and 12% from 2011. Total volume sold in 2012 compared to the previous years is also showing some positive trends.  While 2012 is down .2% from 2010, it is up 4.91% from 2011. The last category we have compared average list price with average sale price. Average sale price is down, as well as average list price, from the previous years.  This often means it is a buyers market rather than a sellers market. In 2010 the residential units sold for 92.40% of their list price.  In ...

When setting the listing price for your property you should be aware of buyers' ways of thinking.  If you set your price to high your property may not have very many showings, even if it is one of the nicer properties in the neighborhood.  Buyers are looking for the "best bang for their buck" and if other houses are listed at or around fair market value they will most like be more attractive than your property.  On the other hand you also don't want to list your house too low either.  Listing your home too low will allow it to sell faster but you will make less than if you would have listed it at market value and waited for someone willing to pay that much.  There are several things to consider when listing your house including but not limited to getting a comparative market analysis to see what previous houses have sold for and what is currently on the market in your area. We have put together some graphs for the Smoky Mountain area comparing the average l...