According to the Lee County Association of Realtors, July residential sales in the Auburn-Opelika area increased 12.7% year-over-year from 236 to 266 closed transactions. Sales increased 16.2% from June. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: July Listings (700) decreased 1.1% from June and increased 1.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.6 months, down from 3.1 months in June, and down from 2.9 months in July 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 July was $385,500, an increase of 2.5% from one year ago and a decrease of 1.2% from June. 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 July averaged 53 days on the market (DOM), remaining unchanged from July 2024.
Forecast: July sales were 17 units, or 6.8% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 249 sales for the month, while actual sales were 266 units.
New Construction: The 115 new homes sold represent 43.2% of all residential sales in the area in July. Total sales increased 23.7% year-over-year. The median sales price in July was $401,000, a decrease of 2.0% from June and an increase of 6.4% 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.
