According to the Lee County Association of Realtors, December residential sales in the Auburn-Opelika area increased 23.0% year-over-year from 148 to 182 closed transactions. Sales increased 12.3% from November. 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 (637) increased 2.1% from November and increased 8.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.5 months, down from 3.9 months in November and down from 4.0 months in December 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 December was $377,272, an increase of 2.7% from one year ago and a decrease of 0.5% 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 57 days on the market (DOM), 4 days faster than December 2023.
Forecast: December sales were 27 units, or 17.2% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 155 sales for the month, while actual sales were 182 units. ACRE forecasted a total of 2,190 home sales year-to-date, while there were 2,253 actual sales through December, a difference of 2.9%.
New Construction: The 68 new homes sold represent 37.4% of all residential sales in the area in December. Total sales decreased 12.8% year-over-year. The median sales price in December was $416,550, an increase of 5.5% from November and a decrease of 2.6% 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.