Here is a link to the Sevier County Market Report. Its purpose is to give you an overall idea of what is happening in our market that affects sales. There are several indicators that will be explained each month in the report.
The Pending Ratio tells us about supply and demand. Right now, our Pending Ratio is 12.6% which suggests there are more homes for sale than there are qualified buyers to buy them. As our market improves, the Pending Ratio should go up, suggesting more buyers for the number of homes on the market.
Off Market Properties tells us how many properties have not sold in the last six months and been taken off the market. The price range that has the most of these properties in today’s market is the $150,000 – $200,000 price range. Taking properties off the market happens for many reasons: inadequate marketing, condition of the home, price, or sometimes sellers just change their mind about selling.
Days on Market tells us how long the average time to sell has been. In the last six months the average was 253 days. Currently the average is 210 days, which is a positive indicator!
The Last Page of the Report shows market information in a graph form.
We hope over the months these reports will help you understand the trends in our real estate market, and also help you make decisions about listing and pricing. Please call or email anytime with questions.