New Home Prices Continue to Rise in Clarksville TN
Single-family home sales continue to show strong sales fueled by a large new home market. As we approach the end of 2017 the year's numbers are falling into place. It has clearly been a year of market shrinkage with inventory decreasing from last January of over 2000 to around 1000 today in total inventory. Early spring put its foot on the accelerator and sales did not ease up until a few weeks ago.
Although homes are continuing to go under contract, we are seeing normal seasonal slowdowns that will again pick up after we clear the holidays. New homes listings continue to be about 25% of the total home listing inventory.
When we look at sales and listings data from November 2016 as compared to November 2017, the results for Clarksville TN single-family homes sales are below:
- Homes for sales 439 to 466-up 6.2%
- Homes closed down 4.7%
- Homes pended down 13.8%
- Average active price up to $198058- up 5.4%
- Average sold prices $178279- down 2.2%
- Months of inventory based on closed sales down to 2.8 months inventory
- Average price per square foot on sold homes down 10%
- List to sale prices- 98.45% to 99.41%- up .96%
Many of the numbers are affected by the REO and foreclosures homes still in coming on the market. These are selling fast and usually bringing multiple offers.
New Home Sales Are Strong In Clarksville, TN
Builders are actively producing new homes in Clarksville; 1017 new single-family homes have been built in Clarksville through the end of November 2017. There are 372 new homes on the market as of November 30, 2017. That represents 377% of the current inventory.
Buyers are enjoying the employment opportunities Clarksville is offering and the benefits of a good retirement community. The more affordable homes are available outside the city limits in Montgomery County. Nashville area buyers have been priced out of that market and are finding they can still purchase a home in Clarksville at 30% less than Nashville prices. However, the influx of these additional buyers is bringing down inventory and will lead to increased prices in 2018. Even though the average price per square foot for single family homes in Montgomery County is still very affordable, I am seeing large increases in new home prices as development costs, construction materials and labor prices continue to rise. Clarksville is still a good home market in Northern Middle Tennessee.
Contact The Real Debbie Reynolds at 931-320-6730 for your Clarksville TN home.
2130 Wilma Rudolph Blvd.
Clarksville, TN 37040
it would be my pleasure to assist you!
"The Real Debbie Reynolds"
931-771-9070 Office | 931-320-6730 Cell