What’s going on in the Clarksville real estate market?
Our inventory is down to 678 houses, about 400 of which are new construction and 278 are resales. Some people prefer resale homes because they won’t be in the area that long and don’t want all the responsibilities that come with owning new construction. We have plenty of resale homes in our area that look like new homes but already have all the work done.
Our list-to-sale-price ratio is 99.4%, meaning that homes in our area are selling for almost full price, though in many instances, they’re selling for even higher than that. Homebuyers need to be prepared to compete with other offers; you might have to make a higher offer than listing price to keep up with your fellow buyers.
This is a great time for home sellers to list. If you work with us, we’ll help you make sure your house is staged, in good condition, and priced correctly so that it sells for top dollar. We even have a five-page checklist to help sellers get their homes in the necessary condition to sell.
Overall, inventory has dropped by 7.38% over the last year, and the average sales price rose from $197,000 last year to $215,700 this year. Homes in high price ranges spend, on average, only 16 days on the market—that’s 27% of the market. The price range between $200,000 and $250,000 only has one month and 19 days’ worth of inventory, which is another 26% of the market. Buyers looking for homes under $100,000 are finding that pretty much nothing is available, even on the Kentucky side of the state line.
For the range between $250,000 and $300,000, the average days on market has dropped to two months and 25 days. This range is around 16% of the market. The homes priced over $300,000 make up about 11% of the market and have around four months of inventory available.
In the end, our market is hot across all price ranges, especially for homes that are in immaculate condition. If you’re having a hard time finding something for sale, don’t hesitate to reach out to us. We’ll let you know what’s available and how you can make your offer stand out amongst your competition.