According to the Lee County Association of Realtors, January residential sales in the Auburn-Opelika area increased 30.9% year-over-year from 110 to 144 closed transactions. Sales decreased 20.9% 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 (643) increased 0.9% from December and increased 12.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.5 months, up from 3.5 months in December and down from 5.2 months in January 2024. 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 $385,000, an increase of 10.0% from one year ago and an increase of 2.0% 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 64 days on the market (DOM), 3 days slower than January 2024.
Forecast: January sales were 10 units, or 6.4% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 154 sales for the month, while actual sales were 144 units.
New Construction: The 56 new homes sold represent 38.9% of all residential sales in the area in January. Total sales increased 14.3% year-over-year. The median sales price in January was $422,547, an increase of 1.4% from December and an increase of 10.6% 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.
