Augusta Real Estate Blog

2012 was an interesting year for myself and my Augusta real estate career.  I continued to hear the term “Zombie Apocalypse” from people looking for homes with land or larger lots this last year.  Let’s just say that I am very thankful that we all survived December 21, 2012 and were able to welcome in the new year!

I’m happy  to report that housing sales increased during 2012!  The average sales price also increased making 2012 a better year than 2011.  Investors and “First Time Home Buyers” continued to impact the market.  The top three ways to buy a home were: Conventional Loans, VA Loans and Cash.  While new homes continue to do well in the Augusta real estate market, regular resale or equity sale homes did much better in 2012.   Below are the numbers for 2012.

Augusta Real Estate Residential Housing Market Stats for 2012:

• 5,111 Single Family Homes Sold during 2012
• Average Days on Market was 165 days
• Longest days on Market was 1,770 days
• Median Sold Prices were 1.43% Less than Asking List Price
• Median Selling Price of a Home was $147,400

Augusta Real Estate Residential Housing Market Stats for 2011:

• 4,888 Single Family Homes Sold during 2011
• Average Days on Market was 165 days
• Longest days on Market was 1,506 days
• Median Sold Prices were 1.67% Less than Asking List Price
• Median Selling Price of a Home was $142,825

Augusta Real Estate Residential Housing Market Stats for 2010:

• 4,954 Single Family Homes Sold during 2010
• Average Days on Market was 156 days
• Longest days on Market was 3,389 days (Wow!)
• Average Sold Prices were .81% Less than Asking List Price
• Median Selling Price of a Home was $145,000

Total sales for 2012 in the Augusta Real Estate market were up almost 5% from 2011 and home prices were up a little over 3% from last year.  I attribute the increase in prices to the competitive pricing of foreclosures in the market coupled with an increase in demand from investors and bargain hunters in the Augusta market.  New homes also helped with the increase of market price with buyers looking to add upgrades to their homes since builders have gotten very competitive as well.

Augusta real estate was much brighter in 2012 than it was for 2011, which points to an increase of buyers in our housing market taking advantage of low interest rates and bargain priced real estate.  Once again, more homes (2,141 total) in the $100,000 to $199,999 price range were sold in the Augusta Area which repeats the trend from 2011.  The next largest price range of homes sold in Augusta was under $100,000 (1,267 total).  One thing we saw was sales of property over a million dollars in 2012, two in 2012 compared to 0 in 2011.

Augusta Real Estate Market:

For Buyers:  The Augusta Real Estate market is still a strong buyers market, but bidding wars have begun on desirable properties.  Lots of inventory remains and interest rates continue to be at all time lows, making this a great time to buy a home whether it’s for an investment or a personal residence.  Don’t continue to wait to buy since prices are starting to increase.

For Sellers: We are still in a strong buyers market and competition from new home builders continues to affect resale homes.  My advice is to hold onto your home or property for the next little bit.  If you must sell, then make sure your home or property is in the best condition possible.  Think  beauty contest and price war, so don’t over spend on improvements.

If you need a current Market Analysis for your home or property, please give me a call or just go to What’s My Home Worth and fill in the basic information.

by Susan MacEwen