Lee County home sales continue to rise year-over-year in September

Sales: According to the Lee County Association of Realtors, September residential sales in the Auburn-Opelika area increased 22% year-over-year from 164 to 200 closed transactions. Sales decreased 17.7% from August and are now up 11.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report 

For all of the Lee County area’s housing data, click here.

Inventory: Total homes listed for sale in September decreased 8.2% year-over-year from 633 to 581 listings. Months of supply decreased from 3.9 months to 2.9, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in September was $279,450, an increase of 13.5% from one year ago and an increase of 1% from August. 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 September averaged 72 days on the market (DOM), selling one day slower than in September 2019.

Forecast: September sales were 28 units, or 16.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 172 sales for the month, while actual sales were 200 units. ACRE forecast a total of 1,909 residential sales in the area year-to-date, while actual sales were 1,836 units, a difference of 3.8%.

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.

Editor’s note: All information in this article reflects data provided to the Alabama Center for Real Estate for Sept. 1-30. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.

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