The Gatlinburg real estate market is seeing the absorption rate increasing for existing homes. In the past 4 or 5 years the building of new homes was fast and furious. Now, the building of new homes in Gatlinburg has slowed tremendousely and subsequently has allowed the existing homes for sale to be absorbed at a faster pace.
Good news for the sellers who need to move their money elsewhere or have reached the end of their depreciation schedule. Also, good news for buyers who are ready to take advantage of the market and the exceptional homes available now.
Increasing sales and decreasing inventory mean that our market is stabilizing and returning to a more normal sales environment. Not to be mistaken with the exuberant period we saw in the past few years but more like the steady appreciation from the early 90′s to the very early 2000′s. A welcome change even though we didn’t see the appreciation rates of 30 to 60 percent like some areas of the country.
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