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  • Writer's picturemhpaugusta

Spring Market Update for Augusta, Georgia and the CSRA 🪴

Welcome to spring in Augusta, Georgia! As the weather finally begins to warm up, it's

the perfect time to explore the current trends shaping the local real estate landscape.

Whether you're considering buying or selling a home, understanding the market

dynamics can help you make informed decisions and achieve your real estate goals.

Here's a closer look at what I’ve uncovered this week in our area.

In the Central Savannah River Area (CSRA), there are currently 1,729 homes listed for

sale, with 1,278 homes pending sale or under contract. The average pending home

value sits at $299,000, reflecting a diverse range of properties and prices across the

region. From Aiken to Thomson, real estate varies significantly from city to city and

between counties, offering something for every buyer's preference and budget.

Despite the availability of homes in the CSRA, affordability remains a concern for many

families. With an estimated monthly mortgage payment of $2,330 for a home

purchased at $299,000 with a 5% down payment, affordability is a key consideration for

prospective buyers. The market is competitive, especially for homes priced at $300,000

or less, leading many individuals into the rental market as an alternative.

In the CSRA, there are currently 832 homes for sale priced at $300,000 or less,

compared to only 35 homes listed for rent in the same price range. While the rental

market offers affordable options for housing, with 200 homes priced under $2,500, it's

clear that buying remains the preferred choice for many residents.

In Aiken County, new construction is experiencing a surge in popularity. With 480 homes

for sale, including 300 new construction properties, Aiken County offers abundant

options for buyers seeking new homes. The demand for new construction is evident,

with 180 new homes pending sale compared to 150 resale homes.

Over the last six months, 2,920 homes have closed in the CSRA, with an average of 110

days on the market. However, pricing correctly is crucial for achieving a quick sale,

especially in a competitive market. Homes priced competitively below market value are

likely to attract multiple offers and sell within a matter of weeks, while higher-priced

properties may experience longer listing times due to affordability constraints.

The spring real estate market here in the CSRA, offers a wealth of opportunities for

buyers and sellers alike. Whether you're looking for affordability, new construction, or a

quick sale, working with a knowledgeable real estate agent can help you navigate the

market with confidence and achieve your specific goals. As you embark on your real

estate journey, remember to consider your unique needs and circumstances, and

leverage the expertise of a Realtor to guide you every step of the way.

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