According to the Lee County Association of Realtors, May residential sales in the Auburn-Opelika area increased 29.3% year-over-year from 208 to 269 closed transactions. Sales increased 40.1% from April. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: May Listings (725) increased 0.5% from April and increased 17.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.7 months, down from 3.8 months in April and down from 3.0 months in May 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 May was $375,264, an increase of 10.6% from one year ago and an increase of 2.8% from April. 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 May averaged 65 days on the market (DOM), 7 days slower than May 2024.
Forecast: May sales were 6 units, or 2.2% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 263 sales for the month, while actual sales were 269 units.
New Construction: The 110 new homes sold represent 40.9% of all residential sales in the area in May. Total sales increased 48.6% year-over-year. The median sales price in May was $394,300, an increase of 6.4% from April and an increase of 3.8% 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.
