Clarksville TN's Real Estate Market 1st Quarter Results
Sales continued to be fast and furiously robust in 2017 for Montgomery and Stewart Counties in Tennessee. Inventory jumped by about 15% over the 4th quarter in 2017 but pending sales doubled over the last quarter of the year. If we look back a full year to the beginning of 2017, inventory to date has dropped by 60%. This is a result of low interest rates and strong buyer interest.
Average time on the market was between 51 days which is much the same as in 2017. Active home listing prices increased in 2017 by 11% over 2016. The overall sale prices were up 3-4% in 2017 on the average. However, that trend continues into 2018 with prices climbing another 3.4%.
As for total numbers of sold homes, we saw a slight decrease because there is always a flurry to get homes closed in the last quarter of the year leaving the first quarter to build pending sales back again. That has been the case.
We have a great market and buyers can be poised to place their offers by contacting their agent early, getting prequalified and knowing what they want.
Sellers, there has never been a better market in Clarksville and a great chance of selling. We are off to a terrific start in 2018. Find out what your home is worth here.
If you are in the market for a new home in Clarksville, contact The Real Debbie Reynolds at 931-320-6730.
Stats furnished by Clarksville Association of REALTORS®