March 2022 | Real Estate Market Update | Southeastern Residential

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WITH SOUTHEASTERN RESIDENTIAL

March NEWSLETTER 2022

STATE MARKET UPDATES - GA & SC MARKET STATS FEB 2022 MARCH HOME MAINTENANCE TIPS LAWN CARE IN MARCH NEW HOME SPOTLIGHT SOUTHEASTERN RESOURCES

Current Market Stats SOLD

ACTIVE LISTINGS

UNDER CONTRACT

SOLD LISTINGS FEB

AVG. LIST PRICE

AVG. SALE PRICE

AVG. DAYS ON MARKET

636

1,957

695

$278,684

$279,972

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STATE MARKET UPDATE (ALL OF GEORGIA) February 2022 Recap GEORGIA ASSOCIATION OF REALTORS

The U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®. Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their home purchases before rates move higher. Mortgage rates have increased almost a full percentage point since December, with the average 30-year fixedrate mortgage briefly exceeding 4% in February, the highest level since May 2019.

Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months supply.

According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many firsttime buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar.

- New Listings in the state of Georgia decreased 1.9% to 13,678 - Inventory decreased 19.8% to 14,616 - Median Sales Price increased 21% from $264,490 to $320,089 - Days on Market decreased 23.3% to 33 days - Months Supply of Inventory decreased 23.1% to 1.0 months

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February 2022 Recap GEORGIA ASSOCIATION OF REALTORS

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STATE MARKET UPDATE February 2022 Recap PROVIDED BY SOUTH CAROLINA REALTORS®. REPORT © 2021 SHOWINGTIME

.

The U.S. real estate market remains hot ahead of the spring selling season, with existing home sales up 6.7% as of last measure, according to the National Association of REALTORS®.

Experts attribute the growth in sales to an uptick in mortgage interest rates, as buyers rushed to lock down their home purchases before rates move higher. Mortgage rates have increased almost a full percentage point since December, with the average 30-year fixed-rate mortgage briefly exceeding 4% in February, the highest level since May 2019.

Inventory was at an all-time low of 860,000 as February began, down 17% from a year ago and equivalent to 1.6 months supply. According to Lawrence Yun, Chief Economist at the National Association of REALTORS®, much of the current housing supply is concentrated at the upper end of the market, where inventory is increasing, while homes priced at the lower end of the market are quickly disappearing, leaving many first-time buyers behind. The shortage of homes is boosting demand even further, and with bidding wars common in many markets, it’s no surprise sales prices continue to soar.

(AIKEN, SC) - New Listings were up 2.8% to 298 - Pending Sales increased 1.7% to 307 - Inventory shrank 32.1% to 451 units - Prices moved higher as Median Sales Price was up 21.6% to $264,793 - Days on Market increased 19.6% to 55 days - Months Supply of Inventory was down 41.7% to 1.4 months

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February 2022 Recap PROVIDED BY SOUTH CAROLINA REALTORS®. REPORT © 2021 SHOWINGTIME

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Since Augusta, Georgia is home to Fort Gordon Military Base, the Cyber Command Center and world renowned Educational and Medical Institutions, we want to show our appreciation for your service to our community and the work you do.

This rebate program is for buyers and sellers and honors the following: Active, Former, Retired, and Immediate Family of Military Active Teachers | Active First Responders | Active Healthcare When you buy or sell a home through Southeastern's Circle of Courage Program, you’ll receive a credit based on the actual sales price and you’ll receive your rebate at closing!

Please consult with Southeastern Residential to determine your eligibility.

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EMPLOYEE RELOCATION

BY CAREY MILLER PIFER

We are a full service brokerage, offering buyer and seller representation. Our agents are experts in new home construction, resale homes, and land. We are proud to service Georgia and South Carolina.

Through our relocation department, we partner with your business to help make the hiring and onboarding for your employees seamless. You can focus on selling your company and the job and we will help sell the area!

When you have recruits visiting, we can provide a tour of the area and help familiarize them with the market.

Think of us as your real estate resource!

MARCH HOME MAINTENANCE

CLEAN GARBAGE DISPOSAL CLEAN GUTTERS AND MAKE SURE THEY DRAIN WELL CLEAN AND REPLACE WINDOW SCREENS CHECK ROOF FOR DAMAGE CHECK THAT THE SUMP PUMP IS DRAINING PROPERLY

Happy St Patricks Day

livingLOCAL STAY AT HOME FUN IN AUGUSTA, GA

●Columbia County Performing Arts Center ● Bell Auditorium Concerts ● Augusta Canal Discovery Center ● Augusta Museum of History

● Phinizy Swamp Nature Park ● Savannah Rapids Park ● SRP Park ● Morris Museum of A

SPRING to

do

Clean the AC condenser. Remove dust and debris that have accumulated on the AC condenser (the big metal box outside your house) so that the AC works efficiently.

Check around your windows, doors, and corner trim to prevent water infiltration and avoid costly repairs.

Take a close look at your roofing to check for loose and missing shingles, worn and rusted flashing, and cracked boots around vent pipes

LAWN CARE IN MARCH MARCH REALLY KICKS OFF THE BEGINNING OF THE LAWN CARE SEASON !

Here are a few things you can do this month: Remove any winter damage. Any branches, leaves, dirt, etc. laying on top of your grass should be removed.

Although your lawn hasn't started growing yet, these branches and weeds are going to start taking advantage of a weak lawn. They need to be removed.

Prepare your mower and lawn tools. Your tools have likely been sitting in your garage or shed for a few months. Pull them out and clean them up. Make sure they work and are ready to go when it's time to start using them.

Aerate. If you have warm-season grass (Bermuda, zoysia, St. Augustine), you should have your lawn aerated in early spring every year.

WE ARE EXPERTS ON THE TOOLS THAT LET YOU SEARCH ON YOUR TERMS! Most consumers begin their real estate home search online on poplar websites such as Zillow or Realtor.com. Our company has partnered with both of the companies to enhance the search capabilities for our clients. We provided our clients with powerful home search tools to help them find their dream home. Our home search solutions are fully integrated with different devices and can be easily downloaded to your mobile device.

SOME OF OUR SEARCH CAPABILITIES INCLUDE:

Search by Area, Address, Zip, & County

Search By Price

Search by School Zone

Search by Beds, Baths & SqFt

Search by Interactive Map

Search Pending or Sold Properties

NEW HOME COMMUNITIES Southeastern Residential represents multiple new home communities in the Augusta and Charleston markets.

Each community is carefully planned to provide residents with unique amenities and long term value. We carefully select the right builders for our communities that share our commitment to quality.

New Home SPOTLIGHT Modern Farmhouses starting in the mid 300s Wright’s Farm is the area’s first Planned Agricultural Community, providing residents with a welcoming and relaxed rural neighborhood while maintaining convenient access to the resources of a bustling city. Built around a working farm operation, Wright’s Farm focuses on farm-to-table practices and encourages healthy living. Wright’s Farm is a community seeking to cultivate relationships between neighbors, while enriching residents’ lives through agriculture. With Convenient access to fresh food and a breath of fresh air, Wright’s Farm is a haven for those who desire to embrace healthy living and get back to a simpler way of life. We believe the farm-to-table lifestyle connects residents with the past while promoting a healthier, sustainable future. Future amenities include a swimming pool and playground. Residents will also have easy access to our upcoming produce stand providing organically grown crops and fresh produce.

Visit our website for more information: www.wrightsfarmaugusta.com PAGE 11

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