Data from Lee County’s September 2020 Residential Report supports the fact that our area continues to experience steady real estate trends month-to-month and noteworthy improvement from year-to-year. Read on to check out some of the highlights!
Total residential sales continue to increase.
The year-to-year figures indicated that September 2020 enjoyed a 22% increase in total residential sales from this time last year. In laymen’s terms, a total of 200 units sold last month, which means 36 more units sold in September 2020 vs. September 2019.
Sales prices stay up!
Median sales prices were up in September compared to both last year and the month before! In September 2019, the recorded median sales price is $246,200. When reviewing Lee County’s September 2020 Residential Report, it’s exciting for sellers to see the value of their homes going up.
The median sales price for September 2020 was $279,450—that’s almost a 14% year-over-year jump! From month-to-month, the increase is less dramatic, but it’s an increase nonetheless, with units on average selling for about $2,000 more.
It currently remains a seller’s market.
This continues to be good news for those in the market to sell. Compared to last September, the total number of homes available for sale this September was down about 8%, which means there are about 52 fewer homes available. Again, good news for those in the market to sell. But it’s important to note that for buyers, it doesn’t have to be a negative stat.
It just means working with a real estate agent is beneficial when it comes to helping you find that needle in a haystack that checks all the boxes on your wish list. Save time and work with an expert who knows the area, the neighbors, and more!
Summary
One last key point to note from Lee County’s September 2020 Residential Report is homes are spending about two fewer days on the market. With less inventory and an average of fewer days on the market, don’t hesitate to contact Ryan Roberts if you are in the market for a new home. Looking to sell? Ryan can help make the process pleasant from start to finish!
For more real estate news, check out other blogs and discover why Auburn, Opelika, and the surrounding area are great places to call home.