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Tellico Village Real Estate Market Update: Trends and Insights for February 2024

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As your local real estate experts at Cornerstone Realty Associates in Knoxville, we’re thrilled to bring you the latest insights into the Tellico Village housing market as of February 2024. Whether you’re considering buying a dream home in this vibrant community or selling your property, understanding the current market trends is crucial. Let’s dive into the latest data and see what it means for you.

Rising Home Sales and Pending Sales in Tellico Village

In an encouraging sign for the Tellico Village real estate market, home sales have risen by 4.8% year-over-year, with 22 homes sold in February 2024. Pending sales also show a healthy uptick of 6.9%, totaling 31 pending sales for the month. These increases suggest a growing demand for homes in this beautiful lakeside community.

Inventory and New Listings in Tellico Village

Currently, the inventory of available homes in Tellico Village has decreased by 19.5% compared to last year, with only 70 homes on the market. However, new listings have slightly increased by 3%, reaching 34 new listings in February. This decrease in inventory alongside an increase in new listings indicates a competitive market, where buyers and sellers must act swiftly.

Median Sales Price and Market Demand in Tellico Village

The median sales price in Tellico Village has seen a significant increase of 14.57%, now at $630,000. This rise, along with an average sold price per square foot of $278, reflects the high demand and value of homes in the area. The absorption rate, which measures how quickly homes are sold, has decreased from 2.69 months to 2.38 months of inventory, further signaling a strong demand.

Seasonal Trends and Price Points in Tellico Village

As we move into spring, traditionally a period of increased activity in the real estate market, we anticipate further interest in Tellico Village properties. Despite the current low inventory, the sustained demand keeps the market dynamic. Interestingly, the $600,000 to $650,000 price range has emerged as particularly active, leading in sales, pending contracts, and new listings.

Conclusion

Tellico Village continues to be a sought-after location for homeowners seeking a blend of luxury, comfort, and community. With home prices closely aligning with listing prices and a bustling market in the $600,000 to $650,000 range, now is an opportune time to consider your next move in real estate, whether buying or selling.

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For personalized advice and assistance in navigating the Tellico Village real estate market, reach out to me, Troy Stavros at Cornerstone Realty Associates at 865-999-0925. I’m here to help make your real estate journey in Tellico Village as smooth and successful as possible.

Navigating the Tellico Village Real Estate Market: Insights for January 2024

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In the picturesque setting of Tellico Village, the real estate landscape is as dynamic as ever, reflecting both challenges and opportunities for buyers and sellers alike. The January 2024 market update reveals a nuanced picture of the local housing scene, marked by a blend of declining sales, increasing pending transactions, and a slight uptick in median sales prices, indicating a resilient yet shifting market environment.

A Brief Overview

  • Sales Trends: Compared to January 2023, home sales have seen a downturn of 19%, with a total of 17 homes sold. This decrease is partly attributed to adverse weather conditions impacting sales activities.
  • Pending Sales: A silver lining comes with a 7.1% increase in pending sales, showcasing a robust demand and a promising start to the year.
  • Inventory Dynamics: The inventory of available homes has contracted by 9.2%, presenting a tighter market with 79 homes listed for sale.
  • Pricing Movements: The median sales price has modestly grown to $615,000, a slight increase of 0.82% year-over-year, highlighting the village’s enduring appeal.

Market Segments and Demand

Analyzing sales by price points, the $600,000 to $700,000 range emerges as the hotspot, with the highest number of transactions. This trend aligns with the active inventory and new listings, most of which cluster within the $450,000 to $700,000 price brackets, suggesting a concentrated demand in this segment.

Future Outlook

The Tellico Village real estate market is characterized by a delicate balance of supply and demand, with an underlying strength in several price segments. For potential buyers and sellers, understanding these dynamics is crucial for making informed decisions. Whether you’re contemplating selling your property or searching for your dream home in Tellico Village, staying abreast of the latest market trends is key to navigating this landscape successfully.

In summary, Tellico Village continues to be a vibrant community for real estate activity, despite the ebbs and flows of market conditions. With its beautiful settings, robust community life, and the current market dynamics, it remains an attractive destination for those looking to buy or sell homes.

Key Takeaways for Buyers and Sellers:

  • Buyers: The competitive segments, particularly homes priced between $450,000 and $700,000, offer a range of options but demand swift action due to the fast absorption rate.
  • Sellers: Despite a general slowdown in sales, certain price ranges, notably the mid to upper tiers, are witnessing strong demand, suggesting that well-priced homes in these segments can expect significant interest.

For those looking to navigate the complexities of the Tellico Village real estate market, understanding these trends is crucial. Whether you’re considering buying a dream home in this vibrant community or selling your property amidst shifting dynamics, expert guidance can make all the difference.

This is where Troy Stavros and the team at CornerStone Realty Associates come into play. With deep insights into the local market and a commitment to personalized service, they are ideally positioned to help you make informed decisions. Whether you’re drawn to Tellico Village for its stunning landscapes, recreational opportunities, or friendly community, Troy and his team can provide the expertise you need to capitalize on the current market conditions.

If you’re looking to buy, sell, or simply explore your options in Tellico Village, don’t hesitate to reach out to Troy Stavros with CornerStone Realty Associates for more information. His knowledge and experience can be your compass in the ever-evolving real estate landscape of Tellico Village.

Contact Troy Stavros at CornerStone Realty Associates today at 865-999-0925 to discuss how the latest market trends can influence your real estate decisions and how to best navigate the opportunities ahead.

VIDEO: Exploring the Tellico Village Housing Market – November 2023: Key Insights for Buyers and Sellers

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Welcome to the heart of Loudon, Tennessee – Tellico Village. I’m Troy Stavros, and I’m excited to share with you the most recent updates from the Tellico Village housing market. This analysis, up to the end of November, is invaluable for those looking to buy or sell in this vibrant community.

Market Trends and Analysis: The Tellico Village real estate market has shown some interesting developments over the past year. Let’s dive into the specifics:

Surge in Home Sales: There’s been a notable increase of 29.6% in home sales compared to last year, with 35 sales recorded in November. This growth indicates a thriving market that benefits both buyers and sellers.

Inventory Dynamics: The inventory of homes has decreased by 12%, resulting in 81 homes available at the end of November. For sellers, this means less competition and potentially higher demand for their properties. Buyers, however, may need to act swiftly to secure their ideal home.

Pending Sales Overview: Pending sales have seen a slight decline of 3.7%, with 26 pending sales in November. This trend provides insights into the pace of the market.

Increase in New Listings: An increase of 35.7% in new listings compared to last year, with 38 new homes hitting the market in November, offers a wider selection for prospective buyers.

Implications for Tellico Village Residents: Understanding these trends is crucial for anyone looking to buy or sell in Tellico Village. Buyers can expect a competitive market with a variety of options, while sellers can leverage the increased demand to achieve favorable sales outcomes.

Conclusion: The Tellico Village housing market is vibrant and dynamic, offering exciting opportunities for buyers and sellers alike. Whether you’re planning to purchase your dream home or looking to sell your property, being informed about the latest market trends is key to making successful real estate decisions.

Get Expert Guidance: For tailored advice and deeper insights into the Tellico Village housing market, don’t hesitate to contact me, Troy Stavros at 865-999-0925. Together, we can navigate this market to meet your real estate goals and aspirations.