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Homes are selling for Full Price and over in 48 Hours!

Friday, June 4, 2021   /   by Joshua Scelsi

Homes are selling for Full Price and over in 48 Hours!

The Augusta market and surrounding markets are on fire! 

Anyone that has been keeping an eye on newly listed homes has seen how fast they're being sold. 
Home values are also at an all time high for our area and there are no signs of this trend slowing down anytime in the near future. 
Here are some numbers to put into perspective:

Last summer 2020, there were about 2200 active listings in the Augusta MLS.

In January of this year 2021 there were just under 1000 Active listings.

As of April 2021 there were only 600 Active listings in the Augusta MLS.

In less than a year we have seen the inventory of available homes drop by 75%!

This is having far reaching effects on the housing market in the Augusta and surrounding areas.
This shortage of inventory means that there are more buyers than available homes. As a consequence, agents and home buyers have seen multiple-offer situations becoming commonplace on almost all new listings pushing sales price even higher!
Multiple offers of 5, 10, 20+ have now become the new standard for buyers looking at homes in the most affordable price ranges, which are below $400k. 
The lower the price on the home, the more offers and the more fierce the competition has become.

Buyers are now forced to waive most contingencies and asking for seller paid closing costs that traditionally have been in the buyers favor just to have a chance of being competitive. There has never been more competition on the buyers side than right now. 

For guidance, advice, and any help when it comes to buying, selling, or investing in real estate. Reach out to us today! 706-250-1399

Our team of full time agents, participate in this active market on a daily basis. 
We are licensed in both Georgia & South Carolina. The experience we bring to the table gives you the best chances to achieve your real estate goals! 

Shaw and Scelsi Partners
Meybohm Real Estate

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