Today I’m joined by one of our buyer partners, Melissa Hayes, to bring you the latest information from our market. It’s time for another market update.
Today I’m excited to bring you the latest information from our market. To help me do so, I’m joined by Melissa Hayes—a buyer partner on our team.
Whether you’re a buyer or a seller, it is critical to understand what’s happening in our Clarksville market.
First of all, we had 1,377 properties on the market at this time last year. That number has since dropped to just 1,046 properties on the market right now. This 24% decrease means we’re in a seller’s market.
As a buyer’s partner, Melissa is a valuable resource to people trying to get an offer accepted in this kind of market.
According to Melissa, we’ve closed on 3,108 properties so far in 2017, compared to the 2,794 that closed last year. This 11.24% difference illustrates just how much the market can change in a year.
Homes on the market move quickly. As Melissa puts it, they are “here today, gone tomorrow.” Right now, the market is truly competitive.
In 2016, the average list price was $174,800. This year, that average has gone up to $183,400. However, the average number of days on market has decreased—moving from 66 last year to 57 now.
If you’ve been thinking of selling, the time is now. Buyers have a lot of opportunities right now though, too. Even so, many buyers wonder what an appropriate offer looks like.
Typically, this can be determined by following the statistics related to the list-to-sale ratio. The list-to-sale ratio refers to what sellers ask for compared to what they actually get. Currently, sellers are receiving about 99.02% of the list price.
This is sometimes a good starting point for offers, but in competitive situations it may be better to offer more. It’s incredibly important to work with a buyer partner like Melissa who will be able to guide you through the market.
If you’d like to contact Melissa, you can give her a call at (931) 245-7435.
Also, if you’d like more information or have any other questions, feel free to give me a call or send me an email. I look forward to hearing from you soon.