CLARKSVILLE, TN (CLARKSVILLE NOW) – Housing prices have reached an all-time high for Montgomery County, according to a new report from Montgomery County Assessor of Property Erinne Hester.
Hester provided county commissioners with an update at their informal meeting on Monday. Her report showed that the median sales price for homes in Montgomery County have soared from $170,000 in 2019 to $260,000 in January of this year.
“I mean, it’s not like anything I’ve ever seen. This is just three years of sales,” Hester told commissioners. “This number is actually higher if you look at the numbers that the Realtors put out.”
A rapidly growing market
Montgomery County has seen a great deal of growth in recent years. A recent study by Opendoor ranked Clarksville the hottest market nationwide. Hester’s office identified 7,113 qualified sales in 2021 – roughly 1,000 more than the yearly totals in 2019 and 2020.
As more people move into Montgomery County, builders are rushing to meet demand, but inventory remains an issue.
According to Christian Black, 2021 president of the Clarksville Association of Realtors, approximately 650 homes sold locally in December out of an available inventory of 450. A healthy market should have around six months of available inventory.
“We’re getting multiple offers on every listing. We had a listing last week that had 40 offers on it,” Black previously told Clarksville Now.