November 2022 Market Update | Southeastern Residential

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WITH SOUTHEASTERN RESIDENTIAL

November NEWSLETTER 2022

MARKET STATS NOVEMBER 2022 WHY TO SELL YOUR HOME IN NOVEMBER MONTHLY TIPS & YOUR HOME VALUE

SOUTHEASTERN RESOURCES NEW HOME SPOTLIGHT

Current Market Stats SOLD

ACTIVE LISTINGS

UNDER CONTRACT

SOLD LISTINGS OCT

AVG. LIST PRICE

1,505

1,028

702

$298,160

AVG. SALE PRICE

$300,570

AVG. DAYS ON MARKET

86

Market Update (Columbia County) October 2022 Recap FLEXMLS

-Average Sales Price was up 12.2% vs.

Oct. '21 to $350,950 - Avg. Days on Market for closed properties is 82 vs. 73 in Oct. '21, this is a 12.3% increase - Months Supply of Inventory is up 22% vs.

Oct. '21 to 1.8 months

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Market Update (Columbia County) October 2022 Recap FLEXMLS Statistic

22-Oct

21-Oct

% Chg

2022 YTD

2021 YTD

% Chg

Absorption Rate

1.8

1.5

21.9

1.4

1.5

-9.9

Average List Price

$402,049

$369,075

8.9

$362,101

$316,999

14.2

Median List $375,000 Price

$339,990

10.3

$329,900

$279,900

17.9

Average Sale Price

$350,945

$312,764

12.2

$349,198

$305,316

14.4

Median Sale Price

$316,750

$280,000

13.1

$320,000

$273,000

17.2

Average CDOM

82

73

12.3

75

81

-7.4

Median CDOM

58

50

16.0

48

49

-2.0

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Market Update (Columbia County) October 2022 Recap FLEXMLS

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Market Update (Richmond County) October 2022 Recap FLEXMLS

.

-Average Sales Price was up 16% vs. Oct. '21 to $238,500 - Avg. Days on Market for closed properties is 75 vs. Oct. '21 at 80.

- Months Supply of Inventory was down 9.5% vs. Oct. '21 to 1.9 months

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Market Update (Richmond County) October 2022 Recap FLEXMLS

Statistic

22-Oct

21-Oct

% Chg

2022 YTD

2021 YTD

% Chg

Absorptio n Rate

1.9

2.1

-9.5

1.7

2.0

-16.8

Average List Price

$262,422

$216,897

21.0

$225,175

$209,804

7.3

Median List Price

$239,900

$181,900

31.9

$199,900

$179,900

11.1

Average Sale Price

$238,475

$205,546

16.0

$222,375

$201,157

10.6

Median Sale Price

$219,900

$183,250

20.0

$201,000

$180,000

11.7

Average CDOM

75

80

-6.3

77

86

-10.5

Median CDOM

50

52

-3.9

48

53

-9.4

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Market Update (Richmond County) October 2022 Recap FLEXMLS

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Market Update (Aiken County) October 2022 Recap FLEXMLS

.

-Average Sales Price was up 18.3% vs.

Oct. '21 to $320,018 - Avg. Days on Market are up to 130 vs. Oct..

'21 at 87 - Months Supply of Inventory was down 28% vs. Oct. '21 to 2.3 months

PAGE 10

Market Update (Aiken County) October 2022 Recap FLEXMLS

Statistic

22-Oct

21-Oct

% Chg

2022 YTD

2021 YTD

% Chg

Absorption Rate

2.3

3.1

-28.0

2.1

2.7

-22.7

Average List Price

$343,961

$327,455

5.0

$314,183

$278,843

12.7

Median List $298,490 Price

$274,900

8.6

$277,250

$249,900

10.9

Average Sale Price

$320,018

$270,572

18.3

$299,171

$259,262

15.4

Median Sale Price

$292,495

$234,473

24.8

$270,980

$236,080

14.8

Average CDOM

130

87

49.4

110

97

13.4

Median CDOM

92

58

58.6

75

64

17.2

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Market Update (Aiken County) October 2022 Recap FLEXMLS

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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!

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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.

PAGE 16

New Program SPOTLIGHT WE HELP FAMILIES MAKE LIFE TRANSITIONS

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WHY NOVEMBER MIGHT BE THE BEST MONTH TO

Sell Your Home

Some owners hesitate to market their homes between Halloween and New Year's Day, believing the holiday season to be an off-peak time to sell. But the idea that houses don't sell in November and December comes from outdated historical trends.

In fact, several studies show that, on average, homes listed during this time are more likely to sell, sell more quickly, and sell closer to the asking price. November, in particular, has some unique advantages that make it an ideal time to sell. Here are two reasons why Thanksgiving month might be the best time to sell your home.

MORE MOTIVATION If buyers are looking for a home in November, they've either waited through the busy season in hopes of a better deal, or they're facing their own time constraints due to work changes or other reasons. For these highly motivated buyers, the traditional barriers to winter house-hunting — bad weather, short days, holiday preparations — don't apply. If your house is available for them to view in November, these buyers are more likely to make an offer close to the listing price.

LESS COMPETITION Because of the misconceptions about selling during winter, it's true that many sellers don't think it's worth their time to try and sell their homes toward the end of the year, so they take their homes off the market. Their loss of a potential buyer is your gain!

Serious buyers have fewer homes to choose from over the holidays. That means less competition for you — and more buyers checking out your even more desirable home, either online or in person.

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DO YOU KNOW YOU HOME'S VALUE? Our market has seen a steady appreciation of home values the last 2 years. This year has been interesting to watch because of the extreme lack of inventory, resulting in a seller's market. We want to make sure you are armed with the best and most accurate information when it comes to your home value, so we have compiled a list of our top 3 reasons why you should check it now.

1. See if you can ditch that private mortgage insurance The first thing that comes to mind: Is it time to knock off PMI from your monthly mortgage payments. in many cases, your lender required you to purchase private mortgage insurance (PMI) if you put less than 20% down on your house.

PMI typically amounts to between 0.5%-1% of the purchase price. For a $200,000 mortgage, your PMI could be $1,000 to $2,000 per year.

2. Update your home’s value on online listing sites to reflect renovations and improvements Even if you’re in the earliest stages of putting your house on the market, you’ll want to start owning your home’s history and value online. Claiming your property on sites like Zillow, Redfin, and Realtor, and updating your home’s online value, can change the perception of the property to better align with its current value.

3. Find out how much equity you’ve built up Understanding equity, or the current market value of your home minus your outstanding mortgage balance, puts you in a better place to understand your finances overall. You may be beginning to think about a move and knowing the value of your property could lead to an accelerated sale timeline, as long as you factor in the difference between home equity and your home sale proceeds.

NOVEMBER Maintenance Rake leaves and clean gutters Service snowblower Clean clothes dryer exhaust Winterize sprinkler system Drain all exterior houses PAGE 20

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

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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 NEW PHASE NOW OPEN!

RIVER LOTS AVAILABLE

Located along the scenic banks of the Savannah River in Evans, GA. River Island is more than a stunning neighborhood; it is an active and engaging way of life. Featuring miles of nature trails through the community and along the river, a stunning clubhouse with terraced view and an outdoor fireplace and resort style pool. At River Island, we call it the nature of river living — just one of the many lifestyle benefits of living in Augusta first Conservation Community. www.riverislandaugusta.com PAGE 25

WWW.SOUTHEASTERNRESIDENTIAL.COM

CAREY MILLER PIFER VP Relocation Services & Business Development Office: 706-945-0512 | Cell: 706-993-7321