April Market Stats

An overview of residential listings (as reported by the Multiple Listing Service of the Greater Augusta Association of Realtors) shows a 12% increase in active listings from March to April of this year, but a 5% decrease from April '07. The number of sold listings is up 6% from March, but down over 16% from April '07. Another item to note is the average days on market stood at 108 for April. This was down slightly from March, but considerably higher than the 81 days reported in April '07. Also, the absorption rates since January have us still squarely in a Buyer's Market, with not much movement. Rates were at 12.1 months in January, 11.4 in Feb., 10.2 in March, and 11.5 in April. Based on current numbers for the month, it looks like that number may be moving back down in the direction of a balanced market. Stay tuned!