The year 2017 is officially behind us, which means it’s time to say, Happy New Year! With the start of the new year, we’re reflecting on what has happened in the past year and thinking about how it will shape 2018 in terms of real estate. The real estate market in Lee County, Alabama, maintains the strength it has displayed over the past few years as population growth and thus new inventory continue to rise. In celebration of New Year’s Day, Realtor Ryan Roberts tells us a little about real estate trends he noticed in 2017 and what he expects for 2018 in Ryan’s 2017 Lee County Real Estate Review!
Q: What were some of the most notable market trends in the Auburn-Opelika real estate market in 2017?
Ryan: Gray, gray and more gray. From paint colors for walls and exteriors to flooring, furniture, cabinets, accent pieces and even appliances, it’s easy to say that the gray and/or greige (gray and beige) color palette has been the trending color scheme in 2017. Personally, I am a fan of the neutral palette and hope to see it continue in 2018.
Another notable trend in our market from the past year was low inventory (especially in the condo market) and multiple offer situations, which as a result caused many properties to sell over asking price.
Q: How, if at all, did the market change from the beginning of the year to the end?
Ryan: I feel that we have begun to see a shortage of homes available for less than $200,000 in Auburn. We also saw a large increase in multiple offer situations.
Q: Why was Auburn-Opelika a good place to buy or sell a home in 2017?
Ryan: We have a strong economy with continued growth. Many local industries and companies are expanding and hiring, which increases the amount of people moving to the area. And again, Auburn University and our city school systems continue to be a huge draw for the communities. Also, both Auburn and Opelika do such a great job of creating a lifestyle utilizing their downtowns, which is a big draw and helps create a sense of community.
Q: What are your real estate predictions for 2018 in Lee County?
Ryan: A conversion to a sellers’ market and a continued increase of buyers wanting move-in ready homes. Fewer and fewer people are looking for fixer uppers. Even though everyone wants to think or believe that they can be a Chip and Joanna Gaines, most people realize that is a far stretch.
Q: What advice do you have for home buyers/sellers for the beginning of 2018?
Ryan: Be well-armored and prepare to make a strong offer. Get qualified with an approval letter in hand and discuss step-by-step the buying process with your agent and lender so there are not delays when you make your offer.
I look forward to what 2018 has in store for all of my past, present and future clients. Happy New Year!
For your real estate needs in Auburn, Opelika or Lake Martin in 2018, call Ryan Roberts at 334-750-9872, or email [email protected]