Looking at current market data can help both Buyers and Sellers understand what our local market is up to. Here’s a few notable points from June to consider as you navigate our current real estate environment.
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- As of June 2023, our area has a tight real estate market with just 1.03 months supply of inventory. This metric represents the number of months it would take to sell all the homes currently on the market, given the current pace of sales. This means that, if no new homes were listed, it would take just over one month to sell all the existing properties.
- Over the past year, we’ve seen a -22.56% decrease in the months supply of inventory, indicating a competitive market. This figure represents the percentage change in the number of months it takes to sell all the homes on the market, as compared to the same period last year. Our data shows a significant decrease of 22.56% in this metric. This indicates a faster pace of home sales compared to the previous year, suggesting a more competitive market for buyers and potentially higher demand for sellers.
- Sellers, take advantage of this favorable market with a list to sold price percentage of 100.4%. This metric calculates the percentage of the original listing price that a home actually sells for. This suggests that, on average, homes are selling for slightly above their initial asking price. This could be attributed to high demand, limited inventory, and potentially bidding wars among interested buyers.
- Buyers, act fast as properties are selling in a median of just 9 days! This incredibly low number highlights the rapid turnover of properties, meaning that homes are being snatched up quickly by eager buyers.
Want to know more about the market in Rincon, Springfield, Guyton, or any of the outlying areas in the Savannah area? Contact me and let’s discuss how the market is looking in relation to your homeownership goals.
Amy Greene, REALTOR®
Platinum Properties
(912) 704-2074
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- (912) 704-2074 Mobile
- (912) 826-2151 Office
- amygreenerealtor@gmail.com
- 135 Goshen Rd Ext, Ste 120, Rincon, GA 31326
Helping Buy and Sell properties throughout Coastal GA. Areas served include Effingham County (Rincon, Springfield, Guyton, Clyo), Bryan County (Richmond Hill, Ellabell, Pembroke), and Chatham County (Pooler, Port Wentworth, Garden City, Savannah).
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