Community Marketing & Real Estate Update

Reflecting on Raoul Rushin’s Legacy, and May’s Market Update.

In mid-June, we gathered in the Sunset Pavilion at Delegal Creek Marina to bid Raoul Rushin a fond farewell at a bittersweet going-away reception. Raoul has led our Company with professionalism and grace, contributing a decade of excellence to both our team and the community. We extend our heartfelt wishes for success as he embarks on new business endeavors in Statesboro, Georgia, alongside his wife, Lisa.

I’ve had the privilege of knowing Raoul for more than 44 years. As I reflect on our long-standing friendship that began in Maryland during high school and continued through our coincidental attendance at Elon University in North Carolina, it’s clear how our paths have intertwined over the years. After pursuing separate career paths for years — Raoul in New England and me in Maryland/DC, primarily in corporate sales and sales management, focused on mobile and custom computing technology — our journeys converged again in North Carolina in 2003. In 2005, I joined Raoul at Governor’s Club Realty, a prestigious, gated community featuring a Jack Nicklaus-designed, 27-hole, signature course in Chapel Hill, NC. Raoul later moved to The Landings Company in early 2014, and I followed suit in November 2015, as VP of Sales and Guest Relations for the past eight years. Currently, I am serving as Interim President, as The Board of Directors guides The Landings Company through this transitional time.

Raoul’s tenure at The Landings Company has left the business in good shape. We are grateful to have had such strong leadership through the past 10 years, including during the challenging times of COVID-19.

Today, the Company remains in an excellent position to thrive. We benefit from an exceptionally capable and experienced Operations Team and boast, in my opinion, the most talented group of real estate agents in Savannah. I have been deeply involved in all aspects of the Company’s operations, supported by the Board and readily available resources.

I’m pleased to provide our community with my first Market Update. As of May 31, 2024, The Landings already has surpassed the total home closings of 2023, reaching 111 closings. Notably, the community has seen 29 closings in the $1 million-plus category.

 

 

 

 

 

 

 

 

 

 

 

With 39 homes on the market at the end of May, the months of inventory equates to 1.8, continuing to favor sellers over buyers compared to the balanced market condition of four months. Note, at the time of this writing on June 18, homes on the market have jumped to 57.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Even with inventory growing lately, we’re 4% ahead of last year, with 144 homes year-to-date, versus 138 through last May. We still are well below (-31%) the 209 of the last pre-COVID year of 2019.

All told, things still are positive, but today’s buyers are being much more discerning and taking more time to review and go under contract. When purchasing, they pay more attention to home inspections and repair requests. However, this is still a great time to list!

 

 

 

 

 

 

 

 

 

 

The Landings Company is 100% self-funded from the sales commission revenue we generate. We continue to nationally market The Landings, which benefits all of our property values, with your support when selling your home, referring friends and family, or renting your home. Thank you in advance for your support thus far in 2024!