The latest numbers are in for the CSRA real estate market and I’m here to share them today. This is what you need to know.
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I think everyone can sense that the market is doing well. Buyers are seeing homes go under contract quickly, sometimes before they even get a chance to see them.
Sellers are seeing a lot of showing activity and multiple offers if priced right. There are also new construction prices that are going up because there are a limited number of companies available to develop land for these new properties, which increases the cost of the lot. That cost is turned over to the builder and then to the consumer. You should expect to see new construction prices continue to increase.
We are also seeing people move within their community by sizing up or sizing down and taking advantage of tax law changes where they can sell their home tax-free.
When you list your home, it takes about 30 to 45 days to get it under contract.
Now, onto the stats. To start with, our average days on market is currently at 111 days. When you list your home, it takes about 30 to 45 days to get a contract, then you negotiate the contract to close the home in another 60 days or so. There’s your 111 days.
Our median sale price is up 2% to $228,000 in the CSRA. Here are the average prices for specific towns in the area:
- Grovetown: $202,000
- Evans: $298,000
- Martinez: $206,000
- Augusta: $135,000
- Hephzibah: $144,000
- North Augusta: $194,000
- Aiken: $205,000
The number of homes sold so far this year is about the same as what we saw last year: 3,300. We have 4.1 months of inventory on our market right now and interest rates are right around 3.9%.
If you’re serious about buying, building, or selling a home, give me a call or send me an email today. I’d be glad to help you out and I look forward to hearing from you soon.