It seems like buzz on the street lately is that the hot real estate market of the past couple of years may be cooling down, but what does the data say for the Augusta area? Well, I had some time on my hands today, and the answer to that question is, it depends on where we are talking about. As you can see in the image below, home prices in Richmond County have continued to soar in Q3 2021 compared to Q2, while home prices in Columbia County have actually FALLEN slightly over the past 3 months, except for Grovetown where Fort Gordon continues to drive the market. This is largely because home prices in Columbia County were already so high to begin with making it tough for them to go even higher. While prices have leveled off a bit in Columbia County, it is important to note that homes there continue to sell at warp speed, so multiple offers are still common with homes selling for an average of 100.47% of list price.
The scene is slightly different in Augusta-Richmond County, where the average home price has risen by 21.53% in the past 3 months, but before you get too alarmed, this is mostly a sign that home prices in Richmond County are starting to catch up to the rest of the country. Notice that the average home price in Richmond County is still about $96k less than Columbia County. There is also more inventory relative to the number of homebuyers in Richmond County than Columbia County and North Augusta with about 1 months supply currently on the market. This means more days on market and fewer (still a ton) multiple offer situations, resulting in homes “only” selling for about 99% of list price compared to over 100% in Columbia County and almost 103% in North Augusta.
I hope you find this information useful. Arming yourself with the best information possible is key to successfully buying or selling a home in any market, but especially extreme markets like the one we may finally be coming out of. If you would like a home value estimate for your current home, CLICK HERE to receive a Home Value Report INSTANTLY. If you have questions about the home buying process, don’t hesitate to call me on my cell at 706-726-2981, or just reply to this email, and I can get you pointed in the right direction. What are your thoughts on the current market? Do you agree with my assessment? Did I leave something out? Please comment below and leave me your opinion!