Is Gatlinburg, TN a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Gatlinburg was a Seller's Market.
Housing Prices in Gatlinburg, TN
How much do homes in Gatlinburg, TN cost?
Median Sold Price
$627,666
$404/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Gatlinburg was $627,666 in May 2024, up 4.3% from last year, and the median price per square foot was $404.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $310K | $334K | +7.7% |
2 Bedrooms | $500K | $515K | +3.0% |
3 Bedrooms | $796K | $860K | +8.0% |
4 Bedrooms | $1.0M | $985K | -1.6% |
5+ Bedrooms | $1.1M | $1.6M | +33.9% |
Summary: Gatlinburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 3%, 3 bedroom homes increased by 8%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes increased by 33.9%.
Housing Supply in Gatlinburg, TN
How many homes are available in Gatlinburg, TN?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
223 | 258 | +15.7% |
Summary: The Gatlinburg real estate market had 258 homes for sale in May 2024, a 15.7% increase compared to April 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 23 | 25 | +8.7% |
2 Bedrooms | 87 | 94 | +8.0% |
3 Bedrooms | 69 | 75 | +8.7% |
4 Bedrooms | 27 | 34 | +25.9% |
5+ Bedrooms | 17 | 30 | +76.5% |
Summary: The Gatlinburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 8.7%, 4 bedroom homes increased by 25.9%, and 5+ bedroom homes increased by 76.5%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
25 | 35 | +40.0% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
11 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Summary: A total of 35 homes were sold or pending in Gatlinburg in May 2024, up by 40.0% month-over-month. Of the 35 sold homes, 51% were sold under asking, 31% were sold at asking, and 17% were sold over asking.
Days on Market for Gatlinburg, TN
How long does it take to sell a home in Gatlinburg, TN?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
73 Days | 141 Days | +92.4% |
Summary: Homes in Gatlinburg had an average of 141 days on market in May 2024, up by 92.4% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
12 Homes Were Sold
In 30 - 90 Days
13 Homes Were Sold
Over 90 Days
Summary: During May 2024, 35 homes were sold in Gatlinburg; 29% of homes were sold within 30 days, 34% of homes were sold within 30 to 90 days, and 37% of homes were sold over 90 days.