The prices in real estate in Gatlinburg, in the Tennessee region have had a strong fall in the last couple of months. The real estate prices for second hand homes have gone through a strong fall in this city.
The price per sq.feet in Gatlinburg has had a strong decrease during the last 6 months. In July, the average price per sq.feet was $1,733. In August this price pretty much remained the same at a value of $1,725 per sq.feet. The price for the following two months in (September, October) had a considerable decrease of 41 with regard to the prior two months. The price per sq.feet has had a considerable deflation of 20 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per sq.feet of $1,219.25 to $243 during November, and December.
Based upon to the price in Gatlinburg (cities), this has gone up considerably in the last 6 months. The price in July is $311,031, rising in August till $327,477. During the following two months (September, October) the average price had a considerable increase of 141 % with regard to the previous two months. Based on an analysis of the first four prices and the last two months the average price has risen strongly 148 % during the last two months.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of $562,455 they are 61 % more affordable than the average price for Gatlinburg. The properties with the highest average price have 4 bedrooms, Their price is 7 % more costly than the average. After that we have properties with 3 bedrooms priced at $444,332.
With regard to the average price per sq.feet , those properties with 1 bedroom are the cheapest ones at a cost of $216 / sq.feet, with an average $248 / sq.feet price in Gatlinburg. The properties with the highest average prices have 3 bedrooms. They are 292 % more expensive than the average followed by properties with 2 bedrooms with a price at $492 / sq.feet.
The graph displaying the average prices displays the property type "Land" as the most affordable one. At an cost of $562,455 it is 66 % cheaper than the average price in Gatlinburg. "Townhouse" is seen as the second most affordable property type. The dearest property type is "House" followed by "Condo". At a price of $277,294 it is 3 % more expensive than the average price.
According to the average cost per sq.feet, the cheapest property type is "Townhouse" at an average cost of $137 / sq.feet followed by "Condo" priced at $187 / sq.feet. "Land" is the most costly type of property with a $1,092 / sq.feet cost followed by "House" with an average price of $369 / sq.feet.