Cumberland, Clarksville, TN Homes for Sale

Cumberland, Clarksville, TN Homes for Sale May 19, 2024
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Introduction to Clarksville's Real Estate Market

Clarksville's real estate market is buzzing with activity and growth, making it an exciting time for anyone looking to buy or sell in the area. Nestled in the heart of Tennessee, this city has seen a significant uptick in its housing market, characterized by rising sales prices and a quick turnover of homes. With a median sales price that has surged by 17% from the previous year, reaching around $329,200 in December 2023, it's clear that Clarksville's market is robust and thriving.

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Key Market Indicators

Homes in Clarksville are selling faster than ever, with an average of just 72 days on the market, a dramatic decrease from the 695 days seen in the past. This rapid pace is a clear indicator of high demand and limited inventory, a hallmark of a strong seller's market. Such a market dynamic puts sellers in an advantageous position, often receiving offers close to, if not exceeding, their asking prices.

Architectural Styles and Home Features

Clarksville's real estate portfolio is as diverse as its community, featuring a range of architectural styles from classic to contemporary. Homebuyers can find everything from quaint, single-story ranch homes to sprawling multi-story residences. Typical homes in Clarksville boast features such as open-concept layouts, modern finishes, and energy-efficient appliances. Many properties also come with ample outdoor space, offering residents a slice of Tennessee's natural beauty.

Recent Market Performance in Clarksville

The recent performance of Clarksville's real estate market paints a picture of a region experiencing rapid growth and high demand. The last year alone has seen remarkable increases in property values, reflecting the area's growing appeal among homebuyers and investors alike.

Surge in Median Sales Price

The median sales price of homes in Clarksville has experienced a notable jump, reaching $329,200 in December 2023, compared to $280,900 in the previous year. This 17% increase is a testament to the area's booming real estate market and the growing interest in Clarksville's diverse neighborhoods.

Understanding the Seller's Market

With more buyers than available homes, Clarksville's market dynamics favor sellers. This imbalance means sellers often have the upper hand in negotiations, leading to a trend where homes sell at or above the asking price. Additionally, the limited inventory and high demand translate to properties selling swiftly, often within a couple of months of listing.

Property Characteristics and Trends

The homes in Clarksville vary widely in size, age, and style, catering to a range of preferences and needs. Properties typically range from around 1,300 to over 3,000 square feet, with the majority featuring three to four bedrooms. Buyers can expect to find homes with modern amenities, including updated kitchens, hardwood floors, and energy-efficient systems. The city's neighborhoods are dotted with a mix of newly constructed homes and well-maintained older properties, offering a blend of historic charm and modern convenience.

Understanding the Cumberland Hills Submarket

The Cumberland Hills area of Clarksville offers a unique blend of real estate options, attracting a diverse range of homebuyers. This submarket is known for its serene suburban feel, combined with convenient access to the amenities of the larger Clarksville area.

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Recent Sales and Market Trends in Cumberland Hills

Recent sales in Cumberland Hills showcase a variety of property types and sizes. For instance, homes like the one on Greenleaf Lane sold for around $240,000, featuring 3 bedrooms and 1 bath within a 1,602 square foot space. Another example is the property on Woodland Station Drive, fetching a price of $278,000 for a 3 bedroom, 2.5 bath home spanning 1,301 square feet. These sales reflect the area's affordability and appeal to those seeking moderately sized, comfortable living spaces.

Home Styles and Features in Cumberland Hills

Homes in Cumberland Hills often exhibit traditional and contemporary architectural styles. Many properties boast upgrades like hardwood floors, modern kitchens, and energy-efficient appliances. These homes range in age, with some properties offering the charm of historical construction and others providing the benefits of newer, more modern builds. The common thread is a focus on comfortable, family-friendly living, with ample yard space and community-oriented neighborhoods.

Demographics and Lifestyle in Clarksville

Clarksville is not just about homes and properties; it's about the people who live there and the lifestyle they enjoy. The city's demographics and lifestyle offerings play a significant role in its real estate market's appeal.

Population Demographics and Income Levels

Clarksville presents a diverse demographic profile with a near-even split between males and females, and a median age of 32 years. The majority of residents have at least a high school diploma, and the average household income is around $54,000. This demographic mix contributes to a vibrant community that values education, family life, and economic stability.

Lifestyle and Community Amenities

Clarksville offers a variety of lifestyle choices, from outdoor activities like hiking and biking to cultural experiences like art galleries and museums. The city prides itself on its community-centric approach, with numerous parks, recreational facilities, and community events that foster a strong sense of belonging. This blend of suburban charm and urban amenities makes Clarksville an attractive destination for families, professionals, and retirees alike.

Schools and Education in Clarksville

Education is a pivotal factor for families considering a move to Clarksville. The Montgomery County School District serves the area with a total of 42 schools. With a district quality rating of 6 out of 10, it ranks better than 59.4% of school districts in Tennessee. This district accommodates a diverse student body with a mix of ethnic and racial groups, providing a rich educational environment for students. The district also emphasizes substantial investment in instructional and support expenditures to enhance the learning experience.

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Top Performing Schools in Clarksville

Several schools in Clarksville stand out for their academic performance. For instance, schools like Glenellen Elementary and Liberty Elementary both hold a 7/10 rating, indicating a strong educational standard. Hazelwood Elementary, with a similar rating, reflects consistent quality in the elementary education sector. Rossview High School and Clarksville High School, both with ratings of 6/10, demonstrate notable achievements in secondary education. These ratings, based on a combination of math and reading proficiency, highlight the commitment to academic excellence in Clarksville's schools.

Climate and Environmental Factors Affecting Cumberland Hills

The Cumberland Hills area in Clarksville, TN, is not only known for its attractive real estate market but also for the environmental factors that influence it. Understanding these factors is crucial for potential homeowners and investors.

Flood and Fire Risks in Cumberland Hills

One of the key environmental concerns in Cumberland Hills is the risk of flooding. Approximately 9% of properties in this area face a significant risk of flooding over the next 30 years. This moderate flood risk is a vital consideration for homeowners, especially those looking at long-term investments. Additionally, the area faces a moderate risk of wildfires, with a significant portion of properties potentially affected. These environmental factors are essential for buyers to consider, both for insurance purposes and for long-term safety and investment security.

Real Estate Investment Opportunities in Clarksville

Clarksville, TN, offers a promising landscape for real estate investment. The city’s diverse economy, population growth, and quality of life make it an attractive destination for investors. Here’s a breakdown of what makes Clarksville stand out:

Key Factors Driving Investment Potential

  • Population Growth: Steady population increase suggests a growing demand for housing.
  • Economic Diversity: A varied economy in Clarksville reduces the risk for investors by ensuring stability even if one sector faces challenges.
  • Job Market: Job growth, particularly due to the presence of Fort Campbell, provides a steady flow of potential tenants.
  • School Quality: Quality education is a key factor that attracts families and impacts the long-term viability of real estate investments.

Rental Property Market Insights

Clarksville’s rental property market presents lucrative options for both long-term and short-term rentals. Factors such as median gross rents and the price to rent ratio indicate the market’s reliability and potential returns. The city shows a healthy mix of demand for both traditional and Airbnb rental properties, with the average monthly rental income in Clarksville being around $1,614. This diversity offers investors flexibility in choosing their investment strategy.

Market Predictions for 2024 and Beyond

The Clarksville housing market is projected to remain stable and show growth. This outlook is based on various factors:

Current Market Trends

  • Median Sales Price: A significant increase in the median sales price, up to $329,200 in December 2023, signifies a strong seller’s market.
  • Days on Market: Rapid sales with homes spending an average of just 72 days on the market indicate high demand and limited inventory.

Future Market Forecast

The Metropolitan Statistical Area (MSA) forecast for Clarksville, TN, shows minimal change in the short term but an overall increase in the longer term. This prediction suggests a sustainable and steady growth trajectory for the real estate market in Clarksville.

Navigating the Clarksville Real Estate Market: Buyer and Seller Tips

Whether you're a buyer or a seller in Clarksville's dynamic real estate market, understanding the current trends is crucial. With the market favoring sellers due to a higher demand than the available homes, it's important for buyers to be well-prepared and for sellers to understand their advantage.

For Buyers

  • Be prepared for a competitive market. With properties going pending in just 19 days on average, quick decision-making is essential.
  • Explore various neighborhoods to understand the diverse options available, from bustling city areas to quieter suburban communities.
  • Consider the proximity to schools, especially if you have children, as Clarksville boasts several high-performing schools.

For Sellers

  • Capitalize on the seller's market. Homes are selling fast, often close to or above the asking price, so price your home competitively.
  • Understand your home's value in relation to recent sales in your neighborhood to set a realistic and attractive price.
  • Prepare your home for sale by addressing any repair needs and staging it well to attract potential buyers.

Exploring Your Options: Traditional Sales vs. Cash Offers

In Clarksville's real estate market, sellers have the option of going the traditional route or opting for cash offers. Each has its benefits depending on your situation.

Traditional Sales

Traditional sales often yield a higher selling price but may take longer. They involve negotiations, potential repairs, and possibly contingent offers based on financing or the sale of the buyer's current home.

Cash Offers

Cash offers typically mean a quicker sale, often without the need for home repairs or staging. These are ideal for sellers looking for a fast, hassle-free transaction.

In summary, Clarksville's real estate market is robust, with strong demand and rapid sales. Whether you're buying or selling, it's important to understand market dynamics to make informed decisions. Buyers should act swiftly and be prepared for competition, while sellers can leverage the seller's market for favorable terms. Considering the type of sale that suits your needs, whether traditional or cash offer, is also crucial in this active market.