According to the Lee County Association of Realtors, February residential sales in the Auburn-Opelika area increased 20.7% year-over-year from 135 to 163 closed transactions. Sales increased 13.2% from January. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: February Listings (652) increased 1.4% from January and increased 10.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.0 months, down from 4.5 months in January and down from 4.4 months in February 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 February was $362,000, an increase of 2.4% from one year ago and a decrease of 6.0% from January. 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 February averaged 78 days on the market (DOM), 10 days slower than February 2024.
Forecast: February sales were 19 units, or 10.4% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 182 sales for the month, while actual sales were 163 units.
New Construction: The 71 new homes sold represent 43.6% of all residential sales in the area in February. Total sales increased 12.7% year-over-year. The median sales price in February was $396,199, a decrease of 6.2% from January and an increase of 6.2% 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.
