I have been asked by multiple clients and friends as the year is wrapping up if I think the real estate in Clarksville Tn will drop in 2022.
This is a great question for both buyers and sellers.
The short answer is I do not see a huge market correction coming at all. I cannot see into the future but the numbers are not showing any reason for significant price drops in the near future.
I have seen some homes stay on the market a bit longer, some have price drops, and even a few come up for auction in the last month. Many of the homes that have been stuck in the market( term used loosely as that is just a month or so these days) or had price drops were overpriced in the first place by using comparable properties sold in the last 3 months. I understand sellers and agents asking for more but even in this market you can only get so much for a home. Buyers are still limited to what lenders approve and while “as is” properties can be sold quicker and for “less” they still need to check a few boxes if a buyer is using a lender.
I do think the market will stabilize and be less volatile in the next year or two. Simple meaning the price increases will slow down and be a bit more traditional. Building materials are becoming more available, interest rates are still low, and people are still moving into Clarksville faster than they are moving out. So I see a more stable sellers market being the normal for at least a bit here in town.
If you want to discus Selling your home more in depth please message me or give me a call at 931 216 2589
Real Estate Agent
Coldwell Banker Conroy, Marable & Holleman
License #: 352998