According to the Lee County Association of Realtors, January residential sales in the Auburn-Opelika area increased 3.8% year-over-year from 106 to 110 closed transactions. Sales decreased 25.7% from December. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: January Listings (573) decreased 2.6% from December and increased 27.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.2 months, down from 4.0 months in December and up from 4.2 months in January 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in January was $350,000, a decrease of 3.4% from one year ago and a decrease of 4.7% from December. 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 January averaged 61 days on the market (DOM), 10 days faster than January 2023.
Forecast: January sales were 17 units, or 13.5% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 127 sales for the month, while actual sales were 110 units.
New Construction: The 49 new homes sold represent 44.5% of all residential sales in the area in January. Total sales increased 11.4% year-over-year. The median sales price in January was $382,028, a decrease of 10.7% from December and a decrease of 21.3% 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.
