Augusta Real Estate Report
Winter in Augusta this year wasn’t really winter. The area experienced much milder and dryer weather than normal, which kept home buyers active and looking for this time of year! With the mild warm weather and an extra day due to Leap Year, the Augusta Real Estate Market leapt ahead of sales from last year. Here are the numbers:
- 353 Homes Sold during February 2012
- Median Selling Price was $130,000
- Median Price per Square Foot was $69.25
- Average Days til Sold 185
There were 41 more homes sold this February in Augusta than last year! Median Home prices in Augusta declined from $138,200 in Feb 2011 to $130,000 this year or a little over 6% from this time last year. This is consistent with last month when homes prices declined by about 5% from last year. (See January’s Report Here.) There were a few more foreclosures this February than last, but not a tremendous amount like January, which tells me that Sellers are adjusting their price to reflect current market conditions.
- Foreclosures: Feb 2012 – 91 vs Feb 2011 – 82
- Short Sales: Feb 2012 – 8 vs Feb 2011 – 4
- New Homes: Feb 2012 – 117 vs Feb 2011 – 104
- Regular Resale Homes: Feb 2012 – 137 vs Feb 2011 – 122
Regular Resale Homes in the Augusta real estate market accounted for 39% of all homes sold in Augusta and the surrounding area during February 2012. New Construction Homes were the second largest portion of homes sale at 33%. Resale homes rose by 1% from January 2012 and New Homes declined by 1%. Foreclosures made up 26% of the market with Short Sales coming in last at 2% for February 2012.
Once again, I would like to see the amount of Short Sales increase and cut into the percentage of Foreclosures to help stabilize home prices for the Augusta real estate market. If you are looking to either buy an Augusta Home or sell your home, please give Susan MacEwen a call at 706-294-6795 or fill out the Contact Susan form.