According to the Lee County Association of Realtors, September residential sales in the Auburn-Opelika area increased 14.8% year-over-year from 162 to 186 closed transactions. Sales decreased 11.8% from August. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: September Listings (671) decreased 5.0% from August and increased 20.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.6 months, up from 3.3 months in August and up from 3.4 months in September 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 September was $368,731, an increase of 6.9% from one year ago and an increase of 0.5% from August. 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 September averaged 50 days on the market (DOM), 1 day slower than September 2023.
Forecast: September sales were 22 units, or 13.1% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 164 sales for the month, while actual sales were 186 units. ACRE forecasted a total of 1,742 home sales year-to-date, while there were 1,713 actual sales through September, a difference of 1.7%.
New Construction: The 93 new homes sold represent 50.0% of all residential sales in the area in September. Total sales increased 20.8% year-over-year. The median sales price in September was $403,227, an increase of 2.5% from August and an increase of 8.1% 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.
