Clarksville Real Estate Market Update

The real estate market statistics are in for Clarksville. We track market statistics every week, and it’s exciting to see the market change week to week. Today, we wanted to give you a market update for the first quarter of 2016!

In 2015, 941 homes closed. This year, 1,120 houses sold. That’s a 19% increase in home sales! This data proves that the market is incredibly active right now. If you’re a buyer, you need to put your best offer forward. 

The average list price hovered around $161,900. This year, the average list price is $166,300. That’s a 2.7% increase in list price. However, the average price a home closed for is what truly reveals market appreciation.

In 2015 the average price a home closed for was $159,500. In 2016, the average closing price is $163,900. That’s a $4,400 difference, and a 2.75% increase in appreciation. That might not seem like much, but since we’ve had a flat market for the last five years, that’s great news. Also, it’s important to understand that the appreciation rate is going up a quarter-percent each month. 

Finally, the average days on market has gone up slightly this year. In 2015, the average days on market was 91, and this year, the average is 99.  Houses are staying on the market just a little bit longer, but sellers are getting more money. 

What does this mean to you?  As a buyer, if you want your dream house, don’t bother with a lowball offer. Make a full-price offer, because you are going to be competing against other buyers. Sellers, now is a great time for you to capitalize on your home sale. 

If you have any questions, give me a call or send me an email. I would be happy to help you!

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