According to the Lee County Association of Realtors, August residential sales in the Auburn-Opelika area increased 8.5% year-over-year from 211 to 229 closed transactions. Sales decreased 13.9% from July. Two more resources to review: Quarterly Report and Annual Report.
For all of the Lee County area’s housing data, click here.
Inventory: August Listings (670) decreased 4.3% from July and decreased 5.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, up from 2.6 months in July, and down from 3.3 months in August 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 August was $389,000, an increase of 6.0% from one year ago and an increase of 0.9% from July. 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 August averaged 51 days on the market (DOM), 3 days faster than August 2024.
Forecast: August sales were 6 units, or 2.4% below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 235 sales for the month, while actual sales were 229 units.
New Construction: The 87 new homes sold represent 38.0% of all residential sales in the area in August. Total sales remained unchanged year-over-year but decreased 24.3% from July. The median sales price in August was $420,493, an increase of 4.9% from July and an increase of 6.9% 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.
