Community Marketing & Real Estate Update

Landings real estate values are up!

As reported last month, we’ve been recognized as the Georgia zip code with the highest average sales prices. Like many markets around the country, our median and average price of homes sold this year as compared to. last year is up substantially. For those who have sold, average days on the market have fallen by one-third.

CHART 1:

 

 

 

 

 

 

 

 

 

 

 

 

 

However, sales this year have been constrained by the low inventory, as demonstrated by the 119 homes closed vs. 179 during the same period last year. Notice that the “high end” of $750k plus has had more sales during the same period.

CHART 2:

 

 

 

 

 

 

 

 

 

 

 

 

 

The Landings Company continues to invest heavily in national marketing to attract as many buyers from outside of Savannah as possible. Although restrained by the lack of housing inventory, 59 buyers, or 50% of the 119 sold, were from the 22 states below. Without TLCo’s national marketing, these 59 buyers and the 156 from last year would not have found The Landings.

CHART 3:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

We certainly could not have expected values to continue to grow at the superheated pace of 2020, 2021, and YTD 2022. Given the recent rise in interest rates and the ripple effect from first time buyers up through the market, we are seeing the veracious and seemingly unbridled appetite for our housing to be cooling a bit. Look at the Homes on the Market and Months of Inventory in Chart 2. Although 1.1 months of inventory still is well below the four months that is considered a balanced market, this is beginning to move in that direction and will provide buyers with more choices.

If you are considering a move, the next few months may be a very opportune time to list your home for sale. The Company still has many buyers waiting to find the right home and, for now, our new inquiry and Discovery Visit activity remains extremely strong.

If you are interested in selling your home and want the absolute highest values and best likelihood of a sale, please call us today (912-598-0500). We have buyers in all price ranges who have decided to make The Landings their home, but the house they are looking for is not yet on the market or has been sold before they could even look at it. We would love to have your listing to show them!

The Landings Company is 100% self-funded and can only continue with your support when selling your home, referring friends and family, or renting your home. Thank you again for your support this year!

 

 

 

 

 

Your Company, The Landings Company!