Clarksville has been in a hot seller’s market since around December of 2015, but the tide is beginning to turn. Our local real estate market is shifting.
The shift, however, is only affecting certain price ranges. In the $300,000+ range, for example, activity has slowed and inventory has increased. It now takes longer in that range for homes to sell.
That said, the continued rise of interest rates means our overall market is sure to slow in the future—regardless of price range.
In addition to this, mortgage rates are down by 16% from last year, and multiple-offer situations have become far less common.
In general, our market does not tend to change as dramatically as other, larger markets do, but buyers and sellers should still consider our shifting conditions as a sign to act. Rates are only going to go up from here, and buyer activity may continue to slow in the future as a result.
If you have any other questions or would like more information, feel free to give us a call or send us an email. We look forward to hearing from you soon.