What happened in our Clarksville market at the end of 2019?
2019 was a fantastic year for buyers and sellers, and what happened at the end of the year reflects what the market will be like in 2020. Here are the year-over-year numbers.
At the end of 2019, there were only 813 properties for sale, which is a drop from the 909 that were on the market at the end of 2018. For the first week of January 2020, we were actually under 800 properties for sale. In all of my time selling real estate in Clarksville, I’ve never seen inventory that low.
We also closed more homes last year than we did the previous year. At the end of 2019, there were 5,585 homes sold. At the end of 2018, that number was 5,473. This is about a 2% year-over-year increase.
Between the end of 2018 and 2019, the average sale price increased 8% from $194,000 to $210,000. That’s right—you can still buy a house near the $200,000 range in the United States, which is why Clarksville was voted as the best place to live in the country by Money Magazine. You’ll probably see the average sale price continue to increase throughout 2020.
The average days on market, meanwhile, dropped from 42 days in 2018 to 38 days in 2019. If homes are priced right and immaculately conditioned, they’re selling within weeks—even days. If you’re thinking of selling your home, we can help make sure it stands out so it attracts early offers and generates a multiple-offer situation.
If you have any questions about our market, don’t hesitate to reach out to me. I’d be happy to advise you. Each situation is different, but my job is to tell you what’s best for yours. I hope the rest of your January is great!