Blanchard & Calhoun Real Estate continues to look at Augusta’s real estate market through October 2012. We are encouraged by the reduction in inventory and the continued increase in sales. The Inventory levels dropped -6.5% with sold properties increasing +4.7% and under contract properties increasing +22.4% compared to October 2011.
We see the existing home sales rising and the new construction sales leveling off just a bit. Existing Homes inventory decreased -5.1% while the sold homes increased +12.1% and under contract homes soared +30.5% over October 2011. New Construction saw inventory fall -12.1% and sold properties decrease -9.1% but the pending sales are up +9.8%.
The market looks to be trending in the right direction, but we are still cautious with a wait and see attitude for the next 4 months.