There’s a lot to love about life in Lee County, as locals can attest. With the release of Lee County’s fourth quarter 2019 residential report, residents can rejoice that real estate in Lee County is on the up and up. Let’s take a look at some of the report’s high points.
More homes are being bought.
Lee County’s fourth quarter 2019 residential report indicates an uptick in home sales. In fact, home buying has increased two-fold since 2011—and 58 more sales were recorded in the last quarter of 2019 than 2018’s final quarter.
Prices have steadily moved north.
The seller’s market shows no signs of slowing down. In Lee County, the median sales price has grown 3.6 percent. Today, the median sales price for a home hovers around $255,983. Mirroring the median, the average sales price jumped 7.1 percent since the last quarter of 2018.
Home sellers may have to wait a little longer.
Real estate is an industry with plenty of give and take. While it’s a seller’s market, a home’s days on the market has seen a rise. According to Lee County’s fourth quarter 2019 residential report, 82 days reflects the average day count for a home’s life on the market.
Home listings have climbed.
In Lee County, homes are up for sale. Home listings are up 30 units compared to 2018’s closing quarter.
Demand still outweighs supply.
The fourth quarter of 2019 shows a proportionate supply in homes as its three-year historical average. However, supply still dips below the normal range seen in the past five years.
Summary
The Alabama Center for Real Estate’s report gives residents insights into real estate’s robustness in their respective communities. For residents of Lee County, the release shows a promising progress report.
All the factors for a welcoming real estate market are there. Whether you’re looking to buy or sell, Ryan Roberts can help get your project off the ground—and running! Feel free to contact him by filling out this contact form. Need more real estate news and insights? Our blog’s the resource you’ve been searching for!
