Is the Housing Market Heating Up In Augusta?
Augusta GA Real Estate Market…
Typically the residential housing market heats up during the summer months. This summer that trend continues and the Augusta area continues to strengthen. Over all we are still in a Buyer’s market except in New Construction.
Here are the numbers for Greater Augusta GA real estate market showing the latest trends from April through July 2012:
- 3,878 Active Single Family Homes for Sale
- 460 Homes Sold per Month on Average over 3 months
- 8.4 Month Supply currently on the Market
*More than 6 month supply of homes is considered to be a Buyers Market.
New Construction dominates the Augusta GA Real Estate Market.
New Construction is the exception with only 3.79 month supply which means that part of the market is a Sellers Market. What does this mean for buyers? This means that the builders are selling homes about as fast as they can build them and can sell for a higher price. While a lot of builders are still offering upgrades and closing costs, don’t expect to get much off of the asking price.
Resale Homes are still a Buyers Market in the Greater Augusta Area with a 10.86 month supply right now. What does this mean for home owners looking to sell? Be patient – It is still taking a little longer to sell than the average 90 days that most people expect. Make sure your home is clean and in good repair. Buyers have their choice of homes to buy and you want yours to be the best one they see. Traditional home sellers must be patient in this Augusta GA real estate market for now.
The Augusta GA real estate market is a local market. Please remember that local markets can change from neighborhood to neighborhood. If you have questions about how your home is fairing in this market, please give me a call or Click Here for A Free Market Report.