How did the 2016 real estate market stack up against 2015? What can buyers and sellers expect from our current market? I’ll go over everything you need to know today.
What’s going on in the Clarksville real estate market? Today, we’ll take a look at how the market did in 2016 compared to 2015. 2016 was a great year for real estate; everything has increased since 2015, and 2017 is already off to a great start!
In 2015, 3,580 properties closed. In 2016, 4,221 properties closed, which is a 17.9% increase. The average listing price also went up. In 2015, the listing price was $171,500, and in 2016, it increased 2.6% to $175,900.
So, what did homes actually sell for in 2016? In 2015, the average sales price was $168,700; in 2016, it went up 3.62% to $174,800. That is great news because our market has been flat for the last couple of years. Now, it’s finally starting to go up.
The average days on market in 2015 was 92, which dropped to 86 days on market in 2016.
What do all of these numbers mean for you?
If you’ve been thinking about selling, now is a great time to get on the market. Houses that are priced correctly and in good condition are selling really fast.
As for buyers, interest rates have gone up and the market is increasing, so the longer you wait, the more likely it is that you will get less house for more money.
If you have any other questions about the real estate market or about selling your home, give me a call or send me an email. I would be happy to help you!