It’s time to talk about market stats. I’ve had a lot of feedback from people that tell me that talking about market statistics is very helpful. It’s great to know that, so thank you for your feedback.
Our market is changing rapidly, especially from the time when people bought their home. Let’s talk about what’s happening now.
We are still experiencing a shortage of inventory. At this same time last year, there were 1,339 homes on the market. Guess what? Today, there are only 950 homes for sale. That’s a 29% decrease in market inventory.
This is a great deal for sellers, but it’s also great for buyers. It means that it’s better to get out there and buy now. When you find a house, you need to put that offer in quickly because homes are disappearing fast, especially the nice ones.
Last year, we closed 3,210 homes. Compare that to this year, where we’ve closed 3,500 homes so far—that’s an 11.68% increase in the market. That’s a really good figure.
The average sales price last year was listed at $173,700, and this year that figure has risen to $182,000, which constitutes a 5% increase in the market. Congratulations, Clarksville—I’m glad to finally hear that. It’s making a big difference, and it’s a great time for sellers.
In 2016, the average days on market was 64 days, whereas this year’s average is 55 days. It’s holding fairly steady, but there is a downward trend.
The price range for the hottest homes on the market is still holding at the $140,000 to $240,000 area. Anyone who is selling a house in that range, if the house is immaculate and priced correctly, will sell their house quickly.
We can help you make sure that you’re one of those houses that sell quickly. We have houses selling in five days and even one day, and a lot of times we get competing offers on those houses. Making your house competitive sometimes allows you to get that higher price.
I look forward to next month’s market update on the goings-on in Clarksville. See you then!
If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.