March 6, 2019 | Antonio and Jasmin Bradley

Welcome back to another 30-day market update! This month we decided to only focus on homes that were listed, went pending, and closed in the month of February and not the rollover listings. We hope this update gives buyers and sellers more insight into the Augusta market!

Richmond County

For Richmond County:

  • 60 active listings from the month of February.
  • 33 went pending and went under contract.
  • And we only had 3 homes that closed.

And some people maybe thinking, "Can a home really close that fast in less than 30 days?" because usually it takes 30 to 45 days. Well, if you buy with cash it could be one-two weeks depending on the attorney that you use and how quickly they can get the title search going.

  • The average list price in Richmond County was $139,200.
  • The sales price was $136, 600, which means that the sellers in Richmond County got about 99% of their asking price. We will see if some of those properties are going to close in the month of March. In the quarterly review, we will provide a bigger picture of exactly how the market is doing.
  • The price per square foot was about $77.84.
  • The average days on the market were 32 days, even though there were only 28 days in February. Some of the information may have been put in late and the system is counting it for last month.

Columbia County

  • There were a total of 130 listings in the month of February for Columbia County.
  • Out of the 130, 84 are still active.
  • 43 properties went pending.
  • Out of that 43, 3 closed.
  • $288, 900 was the average list price in Columbia County.
  • The average sales price was $145,000. We'll see what really happened when we get that bigger picture with the quarterly review.
  • The list to sale price was about 99%.
  • The average price per square foot is $105.35.
  • The average days on the market was about 21 days.

What does this mean for buyers?

It gives you an idea of the averages for the market. If you're in Richmond County, with the price per square foot being $77.84 and you're buying a house for $95 per square foot, then you know it'd better be new construction. The house should be way above average if you're going to overpay for price per square foot.

What does this mean if you're a seller?

This means that you can figure out or at least have an idea of where your house stands in the market. Sometimes we get emotional with our houses. We feel that our house is better. It's better than the neighbors. Well, the numbers don't lie. If you are a seller and your house is average and you want to price it for higher than what the average price per square foot is, then it's probably going to sit on the market. That's something your realtor will be able to guide you through as you navigate that process and help you pick the right price.

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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