What Did May Bring for Our Augusta Market?

Our latest market stats prove Augusta has a lot to feel good about.

I can honestly say that in my 36 years of studying homes and prices in the real estate market daily, this has been one of the most interesting times to track data. Our inventory shortage only worsened in May, dropping 20% over last May. This has caused our prices to rise by 10% amid an economic downturn and worldwide health crisis. In this sense, Augusta has a tremendous amount to be grateful for. Thanks to the housing shortage, we’ve been seeing the average list-to-sale price ratio reach beyond 100%, meaning that the average seller is fetching more than their asking price.  

Something I have seen before here in Augusta—and I’m seeing again now—is that certain sellers have opted to overprice their homes, which has caused them to stagnate on the market. It’s still important to remember that each price range and neighborhood has an individual strategy that needs to be employed, so if I can help you with that, please let me know. If you’re thinking of making a move, whether to downsize or upgrade, this is an excellent time to do so because your return will be very good. 

Reach out by phone or email if you have questions, want more information on a given real estate topic, or are ready to start the home selling process. I’m here to be a resource for you.