Smoky Mountain real estate trends are shifting, with rising inventory and encouraging short-term rental performance. Let’s dive into the insights and data from May 2026 and what it means for both buyers and sellers in the Smoky Mountain real estate market:
May 2026 Sales States
May 2026 closed with 71 sold properties and 328 pending sales across the Smoky Mountain real estate market. Active inventory also increased slightly to 1,113 listings. A few more key metrics from the month stand out:
- Sold-to-list ratio: 95.79%
- Average sold price: $808,218
- Average list price: $858,494
- Average price/sqft: $365.54
- Average list price/sqft: $383.87
- Absorption rate: 10.86 months
Asking price and selling price are still relatively close, but the competitive yet balanced market continues to give buyers more leverage.
Supply & Demand Trends
Inventory remains high, with demand also holding steady, increasing from 61 in April to 71 in May.
Average sold prices are continuing to increase month over month. In May, the market average went over $800,000, signaling the rise of peak summer demand and pricing strength.
Average Sold Price by Bed Count & City
Pricing compared to the location and size of properties in the Smokies is continuing to evolve. The biggest change is the highest average sold price for 6+ bedroom cabins in Gatlinburg, reaching over 2 million. For 1 to 5-bedroom cabins, Sevierville and Pigeon Forge are competitively priced.
Sevierville:
- 1 Bed: $434,556
- 2 Bed: $504,942
- 3 Bed: $670,914
- 4 Bed: $827,024
- 5 Bed: $1,560,406
- 6+ Bed: $1,839,144
Pigeon Forge:
- 1 Bed: $422,027
- 2 Bed: $499,217
- 3 Bed: $668,195
- 4 Bed: $928,667
- 5 Bed: $1,096,167
- 6+ Bed: $1,249,500
Gatlinburg:
- 1 Bed: $420,667
- 2 Bed: $569,380
- 3 Bed: $721,512
- 4 Bed: $953,867
- 5 Bed: $1,069,857
- 6+ Bed: $2,689,750
STR Market Performance
Take a look at the overview for short-term rental performance for May 2026:
- Average occupancy rate: 32.30%
- Average daily rate: $500.60
- Booking lead time: 63 days
- Average monthly revenue: $4,876.80
- Average purchase price: $972,651
- Average sold price/sqft: $365.54
- Average days on market: 163.3
- Absorption rate: 10.86 months
Increasing acquisition costs are still impacting average cash flow and ROI, but strong ADRs, rising demand, and long-term value continue to uphold desirable investment opportunities and revenue across the Smokies.
Cabin Performance by Size
Here’s a breakdown for STR performance based on cain size:
- 1 Bed: $2,397.00
- 2 Bed: $2,566.80
- 3 Bed: $3,195.00
- 4 Bed: $4,656.00
- 5 Bed: $6,846.00
- 6+ Bed: $9,600.00
5-bedroom cabins also saw the highest occupancy rate at 35%, with 1-bedroom cabins close behind at 34%. Group travel is still trending upwards, with demand for bigger, more luxurious cabins holding strong.
What This Means for Buyers & Sellers
For Buyers: The increase in active Smoky Mountain real estate listings and the over 95% sold-to-list ratio indicate there is continued interest and more negotiating power.
For Sellers: Strategic pricing and properties optimized for STR performance ensure listings stand out from the growing inventory. Cabins with appealing amenities (mountain views, indoor pools, updated interiors) are more likely to sell quickly.
Invest in Smoky Mountain Real Estate
With properties and cabins for sale in Sevierville, Pigeon Forge, and Gatlinburg, and a knowledgeable team with expertise in buying, selling, and negotiating in short-term rental investments, Local Realty Group is here to help you navigate the Smoky Mountain real estate market with confidence.
Learn more about STR investing and get in touch with our team to talk about your investment goals!
