In recent years, the Clarksville housing market has been a subject of growing interest for both homebuyers and real estate investors. This dynamic market offers a range of opportunities, from affordable homes to potential investment properties. In this post, we’ll delve into the key trends, statistics, and forecasts for the Clarksville, TN housing market as of September 2023. Whether you’re looking to buy, sell, or invest, this article will provide you with valuable insights to make informed decisions.
Clarksville Housing Market Trends
Before making any real estate decisions, it’s essential to understand the current trends in the Clarksville housing market. Here are the key data points released by Movoto.com.
- Active Listings: As of September 2023, there are 1659 active home listings in Clarksville.
- New Homes for Sale: Additionally, 141 new homes are available for purchase.
- Median Home Price: The median home price in Clarksville is $329,900, making it an attractive option for buyers.
- Days on Market: Homes in Clarksville typically sell after 51 days on the market, showing a slight improvement compared to 52 days the previous year.
- Housing Sales: 1499 homes were sold in Clarksville in September 2023, representing an increase from 1351 sales in the previous year.
Clarksville, TN School District
For families looking to settle in Clarksville, it’s essential to consider the quality of the local education system:
- School District: Clarksville, TN is part of the Montgomery County R-1 School District, which boasts 43 Elementary Schools, 20 Middle Schools, and 19 High Schools.
- School Ratings: According to GreatSchools, the average rating of all schools in Clarksville, TN is 6 out of 10, indicating a decent educational environment for children.
Clarksville Real Estate Market Statistics
Let’s delve deeper into the statistics that provide a comprehensive overview of the Clarksville real estate market:
- Median List Price: As of September 2023, the median list price of homes in Clarksville is $329,900, showing a slight decrease from $335,000 in the previous year.
- Market Status: In September 2023, Clarksville’s real estate market is categorized as a seller’s market. This means that there are more potential buyers than available homes, making it a competitive market for buyers.
Looking ahead, it’s important to consider what the future holds for the Clarksville housing market. While no one can predict the future with absolute certainty, experts provide valuable insights:
Are home prices dropping? Experts predict that while there might be fluctuations, Clarksville’s housing market is expected to remain robust, with minor price adjustments rather than significant drops.
Is the Clarksville housing market slowing down? While it’s not experiencing the same rapid growth as in recent years, the Clarksville housing market continues to show healthy signs of activity, making it an attractive destination for homebuyers and investors.
Overall, the Clarksville housing market is a dynamic and promising one. With affordable home prices, a competitive market, and a decent school district, it presents opportunities for various real estate stakeholders. While predictions may vary, the overall outlook for Clarksville’s real estate market remains positive. Whether you’re planning to buy your dream home or invest in the thriving real estate landscape, Clarksville, TN, is undoubtedly a place to consider.
Stay tuned for more updates on the Clarksville housing market as we continue to monitor and analyze the latest trends and data.
Clarksville Housing Market Predictions 2023-2024
As we look into the future of the Clarksville housing market, it’s valuable to consider predictions from reputable sources like Zillow. Zillow’s data, which is updated through September 30, 2023, provides us with insights into what we can expect in the coming months.
Current Market Overview
As of September 30, 2023, the average home value in Clarksville stands at $299,521, marking a 1.5% increase over the past year. Additionally, homes in Clarksville typically go to pending status in approximately 13 days. Here are some more key statistics:
- Median Sale to List Ratio (August 31, 2023): The median sale-to-list ratio in Clarksville as of August 31, 2023, was 1.000, indicating that homes were typically sold for their listed price.
- Percent of Sales Over List Price (August 31, 2023): Approximately 24.4% of home sales in Clarksville were above the list price, reflecting a competitive market.
- Percent of Sales Under List Price (August 31, 2023): Conversely, around 36.0% of sales were below the list price, showing opportunities for buyers to negotiate favorable deals.
- Median Days to Pending (September 30, 2023): Homes in Clarksville take an average of 13 days to go from listing to pending, emphasizing the brisk pace of the market.
Neighborhood Insights
Clarksville is a city of diverse neighborhoods, each with its unique character and property values. Here are some notable neighborhoods along with their median Zillow Home Value Index (ZHVI) as of September 30, 2023:
- Belmont: The median ZHVI in Belmont is $266,410, offering a more affordable option for homebuyers.
- Ashland Hills: Ashland Hills boasts a median ZHVI of $277,929, presenting moderately priced homes.
- Kingswood: For those seeking higher-end properties, Kingswood stands at a median ZHVI of $302,474.
- Willow Bend: Willow Bend’s median ZHVI is $314,591, making it an attractive neighborhood for those looking for quality homes.
- Wingate: Wingate offers a higher-end market with a median ZHVI of $449,447.
- Rudolphtown: If you’re in the market for luxury properties, Rudolphtown has a substantial median ZHVI of $563,417.
- Greenwood: Greenwood is a more affordable option with a median ZHVI of $172,593.
Clarksville MSA Housing Market Size
The Clarksville Metropolitan Statistical Area (MSA) encompasses the city of Clarksville and its surrounding areas. This regional housing market plays a significant role in the overall real estate landscape. Here’s an overview of the MSA’s growth predictions:
RegionName: Clarksville, TN
RegionType: MSA
StateName: TN
Base Date: September 30, 2023
Based on the predictions, the Clarksville MSA housing market is expected to see a substantial 4.1% increase by September 30, 2024. This growth is a positive sign for both residents and investors, indicating a thriving real estate market in the broader region.
Should You Invest in the Clarksville TN Real Estate Market?
Investing in real estate is a significant decision, and it’s essential to weigh the pros and cons carefully. When it comes to the Clarksville, TN real estate market, there are several compelling reasons for investors to consider. Let’s explore these factors in detail:
1. Population Growth and Trends
Population growth is a key indicator of the potential for real estate investment. Clarksville has experienced consistent population growth over the years, driven by factors like its proximity to Nashville and the presence of Fort Campbell. Here’s why this matters:
- Steady Population Increase: Clarksville’s population has been steadily growing, creating a demand for housing. This trend is likely to continue, providing a consistent pool of potential tenants.
- Proximity to Nashville: As Nashville’s housing prices rise, many individuals and families are looking to the more affordable Clarksville as a place to live. This demand is expected to drive the real estate market further.
- Fort Campbell: The presence of Fort Campbell contributes to a stable demand for rental properties, as military personnel often seek housing in the area.
2. Economy and Jobs
The local economy and job market play a vital role in determining the attractiveness of a real estate market. Clarksville’s economic factors are favorable for real estate investors:
- Diverse Economy: Clarksville has a diverse economy, with sectors like manufacturing, healthcare, and retail contributing to job stability.
- Job Growth: The city has seen job growth over the years, driven by both its expanding population and the presence of Fort Campbell.
- Military Influence: Fort Campbell is a significant employer in the region, providing a consistent source of tenants and economic stability.
3. Livability and Other Factors
The overall livability of a city is an important consideration for real estate investors. Clarksville offers several factors that enhance its livability and, in turn, its real estate market:
- Quality of Life: Clarksville is known for its quality of life, with access to parks, recreational activities, and a strong sense of community.
- Education: The city hosts a variety of schools, making it an attractive option for families looking for quality education for their children.
- Affordability: Compared to major cities like Nashville, Clarksville offers more affordable housing options, which can attract both renters and potential homeowners.
4. Rental Property Market Size and Growth
For investors focused on rental properties, understanding the size and growth potential of the rental market is crucial:
- Strong Rental Demand: Clarksville’s rental market remains robust due to factors like military personnel, college students, and individuals looking for affordable housing.
- Rental Property Options: Investors have a range of options, from single-family homes to multi-unit apartments, allowing for diversification in their portfolios.
- Rental Appreciation: Rental properties in Clarksville have experienced appreciating values, offering a potentially profitable investment opportunity.
5. Other Factors Related to Real Estate Investing
Finally, it’s important to consider other factors that can influence your investment decisions:
- Tax Benefits: Tennessee is known for its favorable tax environment, which can enhance the financial benefits of real estate investment.
- Property Management: Professional property management services are available in Clarksville, making it easier for investors to manage their properties remotely.
- Market Predictions: Based on market predictions, Clarksville’s real estate market is expected to continue growing, offering potential returns on investment.
Overall, the Clarksville, TN real estate market presents a compelling opportunity for investors. With population growth, a diverse economy, and a strong rental market, it offers a favorable environment for both long-term and short-term investment strategies. However, as with any investment, it’s crucial to conduct thorough research, work with experienced professionals, and consider your financial goals and risk tolerance.
References:
- https://www.zillow.com/clarksville-tn/home-values/
- https://www.redfin.com/city/3918/TN/Clarksville/housing-market
- https://www.movoto.com/clarksville-tn/market-trends/
- https://www.realtor.com/realestateandhomes-search/Clarksville_TN/overview