Sales: According to the Lee County Association of Realtors, December residential sales in the Auburn-Opelika area increased 12.4% year-over-year from 194 to 218 closed transactions, marking five consecutive months of Y/Y gains. Sales increased 8.5% from November. Sales are up 18.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: December listings (319) decreased 11.6% from November and declined 27.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.5 months, down from 1.8 months in November and 2.3 months in December 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in December was $304,000, an increase of 11.8% from one year ago and a decrease of 2.6% from November. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.
Homes sold in December averaged 30 days on the market (DOM), 33 days faster than December 2020.
Forecast: December sales were 16 units, or 7.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 202 sales for the month, while actual sales were 218 units. ACRE forecast a total of 2,746 sales in the area year-to-date, while there were 2,849 actual sales through December, a difference of 3.7%.
New Construction: The 89 new homes sold represent 40.8% of all residential sales in the area in December. Total sales increased 29.0% year-over-year. The median sales price in December was $348,200, an increase of 0.4% from November and of 6.5% from one year ago.
Click here to view the entire monthly report.
The Lee County Residential Monthly Report is developed in conjunction with the Lee County Association of Realtors to better serve area consumers.
Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.
