In Lee County, Alabama, property prices are booming. After a great first quarter, the market is in excellent shape. This means that it’s an ideal time of year to put your home on the market—and net a potentially larger profit. According to the Alabama Center for Real Estate (ACRE), here are a few statistics from Lee County’s First Quarter 2019 Residential Real Estate Report to back it all up.
- Median sales prices are growing. When you sell your home, it’s important to make a profit. This will allow you to make a higher down payment on your next home! Luckily for sellers, median sales prices are growing—and so are their profits. In the past year, the median home price has risen by 8.6 percent!
- Average sales prices are growing too. Compared to the three year quarterly average sales price, the average sales prices in the first quarter of 2019 have grown as well. By how much? 14.6 percent!
- The inventory-to-sales-ratio has improved. Having a variety of homes on the market is one thing. Selling them, on the other, hand makes all the difference. Currently, the inventory-to-sales-ration has improved by 5 percent when compared to the three year quarterly average. That’s fantastic news for buyers and sellers.
- First quarter sales are rising. Lee County’s First Quarter 2019 Residential Real Estate Report shows that the year has started off strong. In fact, first quarter sales have risen by 8.1 percent in comparison to the three year quarterly average.
- Buyers have more options. Buyers and sellers alike can all find something to love about the current market. This past quarter has shown that buyers have more options than they did three years ago, with the homes listed for sale multiplying by 14.4 percent during that time.
Lee County’s First Quarter 2019 Residential Real Estate Report shows that buyers and sellers alike have a lot to look forward to. With the help of Ryan Roberts, you can profit from the market, as well as from his years of experience. To begin, fill out our contact form here. As for learning more about the real estate market, check out our blog here.