Clarksville, Tennessee's Market Is Changing
What a great year in real estate we have had in Clarksville. As we go into the winter months changes are happening. Yes, buyers are still buying but not at the rate they were earlier in the year. 2017 was a gangbuster year.
We have seen homes come on the market and almost immediately go into multiple offers. Then other neighborhoods are having trouble selling homes and prices are coming down. This is the normal ebb and flow of real estate.
Sellers are recognizing that the market is changing and to get a jump, they are adjusting prices and beginning to take the advice of their agents. This past year the market has been crazy and homes have not been staying on the market but a few days.
Some sellers are asking why their homes are not selling. Pricing right and updating your home will get noticed by buyers. Fewer buyers are paying over-market prices. Most buyers that are looking during the holidays are serious buyers and one thing is for sure, you can't sell if you aren't on the market. The holidays and holiday decor trigger warm emotions in buyers. Having tasteful Christmas decorations could be just what it takes to make a buyer fall in love with your home.
Builders have been building like crazy. New home inventory is growing and there are many that are in move-in ready condition. There should be plenty of inventory to carry us to spring.
Here are some other signs that the market is changing.
- Home inventory is over 1000 listings and absorption rate is approaching 4 months.
- Some sellers are taking their homes off the market and choosing to rent them.
- It seem every day or two that I receive a marketing email offering a selling bonus.
- There are more open houses and broker opens. To sell a home you have to get people inside of them.
- Price adjustments and reductions are substantial.
- Finally the asset managers of REO and Foreclosures are seeing they are priced too high and bringing their prices down. Their heydays are pretty much over.
- I am telling sellers to expect 90-120 days on the market as an average.
If you are serious about selling, hang in there. Be patient but price you home correctly to sell.
For real estate in Clarksville TN, contact The Real Debbie Reynolds at 931-320-6730.