The Greater Augusta Market is still in demand!
Our housing market is still moving!
To give you perspective, a "balanced" market would be about 2,000 homes in our inventory. We are at 1,272. While that is up compared to the extremely low numbers we saw last year, we still have low inventory. Some homes are staying on the market longer, but normally those are in the higher price points.
The homes that are in the $350,000 range and under are seeing a lot of activity and multi offer scenarios again. For example, a home I listed recently had 26 showings, 17 families come to the open house, and multiple offers within the first weekend of it being listed.
Why are we seeing this dichotomy in our market?
1) INTEREST RATES. They are up, but they are likely here to stay. The 2-3% range was not normal. In fact, historic market trends show that 7-8% range is normal.
2) HIGHER PRICES. This makes affordability harder, which is why homes under $350,000 are highly sought after.
Buyers, I'd love to help you navigate this market.
Sellers, our market needs more inventory---so if the timing makes sense for you to sell, I'd be happy to set up a time to meet with you, get a market analysis together and develop a marketing strategy.
If you need a Realtor who knows our market and can help you navigate it, I'm here to help!