A lot has changed since the outbreak of COVID-19.
As you can see in the video above, I (like many others) now work from home. Buzzwords like “shelter in place” and “social distancing” have entered the national lexicon. Before, most of us didn’t have to worry about not having enough toilet paper. There’s tape directing us where to stand when we check out at grocery stores. Many people are wearing masks everywhere they go.
Also, many of us are having to find things to do to keep ourselves occupied while indoors. Something I’ve done to keep myself busy is turning my office into a mini mask-making factory for the local VA hospital.
One thing that hasn’t changed in Clarksville, though, is our market, which is still doing great. Houses are still selling, we’ve been hosting listing appointments through Zoom, and buyer’s agents are conducting virtual walk-throughs of homes for their clients. Additionally, we’ve implemented strict safety procedures when showing homes that are still occupied.
What do the numbers say? As of the recording of this video, there are 694 active listings, which is a slight drop compared to the 855 listings that were on the market last year at this time. Year to date, 1,338 properties have been sold, which is a 15% increase compared to the 1,168 that had been sold last year. The average sale price is $232,000, but that number’s been slightly skewed by a select few properties that sold at very high prices. The real average is somewhere between $220,000 and $225,000. Last year, the average was $198,400. The average days on market has decreased from 50 to 46 days, and the list-to-sale price ratio is inching closer to 100%.
Our clients are still getting offers at or over list price, and homes are still selling quickly. We just listed a house for $300,000, and after the seller did everything we instructed them to do, the house was under contract in five days.
Not only is it still a good time to sell, but it’s also a good time to buy. When this health crisis subsides, all the would-be sellers who held back on listing their homes will put them on the market, which will drive prices up and make things more competitive.
To reiterate: We have systems in place to protect the health and safety of buyers and sellers. Hopefully, the next time we talk, we’ll be out of quarantine mode. In the meantime, I hope you stay safe out there. I also want to thank all the workers out there on the front lines who help keep things moving. There are a lot of heroes out there, and I appreciate what they’re doing to keep the rest of us safe.
These are uncertain times, so it’s okay to be a little worried. That’s why I encourage everyone to stay positive and use this time to appreciate your friends and family.
As always, if you have questions about this or any real estate topic or are thinking of buying or selling a home, don’t hesitate to reach out to me. I’m happy to help.