Augusta Economy

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Home sales rise in May across Augusta market

Report finds number of days on market decreased in area

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Residential property sales increased in May, according to a report from the Greater Augusta Association of Realtors.

Homes for sale are also selling faster, the report also revealed, as there was a decrease in the number of days a house stayed on the market.

"Any increase is good news, but it's still a very limited, slow market," said Tom Staton, a realtor with Bryngelson Real Estate in Augusta. "It seems nobody wants to make a move unless they absolutely have to."

Staton said he has not noticed the increase in sales, but his rental business is booming. He said people aren't sure about their jobs, and are making smaller commitments, such as improvements to their existing home instead of upgrading.

However, ReMax agent Lula Kanardy said she has noticed an increase in calls this past month.

"People are looking really hard again. And hopefully, that will continue," Kanardy said.

Kanardy, who is the president of the Greater Augusta Realtors board, said she thinks sales are up with new houses, but still down with previously owned houses.

The good news is mixed with bad. Kanardy said people are looking because they think rates are dropping. And lower rates mean property values are dropping, so sellers are losing money they've invested.

Augusta housing market
 MAYAPRILMARCH
Units sold445403411
Average sales price$148,063$141,269$146,037
Days on market166194168

Source: Greater Augusta Association of Realtors


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