January Market Update
February 20, 2019 | Jasmin Bradley



Welcome to our 30-day monthly market update for January! While Richmond County saw a slight drop in January, is Columbia County is still growing. Let's get into the numbers!

RICHMOND COUNTY

Looking at the numbers, seasonality has struck Richmond county a little bit compared to September through November when Richmond County was going very robust, very strong.
  • So we had 411 properties that went active in Richmond County from January 1st to January 31st. 
  • Of those 411 properties, 88 of those closed and 227 of them were actually pending sale. If you are one of those sellers that had their property carry over from last month to this month, then you might want to sit down and analyze the deal with your realtor. It's important to figure out if the seasonality that hit the market played a part or maybe not as many buyers are buying in the first-time home buyer market. Is it because your house is overpriced or the condition is poor or maybe even marketing? 
  • The average list price for Richmond County went down. The last time we did this, the average list price was about $190,000. Right now it's $173,241. 
  • The average sales price was $131,000. 
  • The sold to list ratio was about 94%. 
(If you look at the fact that the average list price is $173,000 and then the average sales price is $131,000 that is a big gap there. So it just depends on the market and what actually sold that month.)
 
  • Now we have the average price per square foot. Whenever you're looking to list your property, you're looking at an of average $79.25 per square foot in Richmond County and that has gone up. It went from $74 to about $78 and now we're at $79. So that's really good. 
  • Average days on the market went up a little bit to 136 days, which is about 4.5 months for your property to sell.

COLUMBIA COUNTY

  • In Columbia County, we had 438 properties that were active. 
  • Out of those 438, 107 closed. We had 233 properties go pending in Columbia County in the month of January. 
  • So the average list price was really good! It was $290, 342. 
  • The average sales price was $227, 258. 
  • Your average sold to list price ratio in Columbia County was 97.28%. So you're looking at getting at least 97% of your list price. 
  • The price per square foot was $105.82. That's amazing for this area! 
  • The average days on the market was 114 days, which is almost 4 months. That's really good because that's from the day you listed. Let's say it's taken about a month to market the property and actually get it under contract. Then once you go under contract it takes anywhere between 30 to 45 days to close on a home. So that means that you're going into contract and getting it sold really, really fast.

See you next month for another market update! Be sure to visit our YouTube channel to watch the full video! If you're constantly on the go, you can listen to monthly market update each month on our podcast through Spotify, iTunes, and Google Play Music  .
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