Since December 2015, our market has been highly active, and it seems to only be getting more active by the day.
The scarce inventory that characterizes the market landscape nationally is also affecting us on the local level—at this moment, we have just 790 active listings; that’s the lowest inventory has been since I’ve lived here! That’s a decrease of 7.49% when compared to inventory levels at this time last year.
Last year, the number of closings by this time reached 1,092, while 2019’s current total is 1,072. This amounts to a 1.83% drop, year over year. In all likelihood, this can be attributed to our limited inventory.
Now, let’s look at the average sale price. In 2018, the average home sold for $187,600, and this stat point is trending upward in 2019. To date, homes in our area are selling for $199,600 on average, which is a 6.4% climb.
In 2019, the average home is spending fewer days on market by a very slight margin—we’re currently at 51 days, compared to 53 days the year before.
I often hear that we’re in a hot seller’s market, and while this is true for some price ranges, it isn’t necessarily so for others.
For the $180,000 to $240,000 price range, there’s currently about a month and 20 days’ worth of inventory. As for homes priced in the $100,000 to $180,000 range, we have just 23 days’ worth of supply. Homes in the $240,000 to $300,000 price range are at four months of inventory. And in the upper-level price points, supply is at nine months or more.
As you can see, the Clarksville market is buzzing with activity. If you’re looking to sell your home, there’s much to gain from our current market conditions. And buyers who are keen to find a home should heed the advice of their Realtor in order to outshine the competition.
If you have any questions or need help with any and all of your needs, please give me a call at 931-245-7435 or visit us online at AirAssaults.com. I’d be glad to help!