The data has been collected, reviewed and released! Let’s take a moment analyzing Lee County’s April 2021 Residential Report from the Alabama Center for Real Estate (ACRE). Overall, positive trends continue for our area.
Homes continue to sell quickly.
Once again, we love sharing the good news for both buyers and sellers with this key finding! According to the report, houses spent an average of 49 days on the market in April 2021. That is 15 days less than a year ago, which represents a 23.4 percent decrease.
Another positive perspective is looking at the month-to-month comparison. In March 2021, houses sold within 57 days. Eight days less on the market may not be record setting, but it’s moving in the right direction, and all signs point to this trend continuing.
Total residential sales continue to rise.
When analyzing Lee County’s April 2021 Residential Report, a few facts and figures stand out. For example, historical data indicates total residential sales typically decreases almost 6 percent from March to April. However, this year, total residential sales increased almost 2 percent from March to April!
To clarify, 262 units sold in April while 257 units were sold in March. Year-over-year figures also uphold an upward trend with two more houses sold this year versus April 2020.
The median sales price increased as well.
The median sales price in Lee County for April 2021 was $279,500 compared to $266,270 a year ago. In simple terms, it represents a 5 percent increase.
Average sales prices are up!
Last but not least, the average sales price for a home in Lee County increased 9.4 percent compared to April 2020. A year ago, the average sales price was $282,504. In April 2021, that figure reached $308,957.
Summary
After analyzing Lee County’s April 2021 Residential Report, it’s clear that encouraging trends remain in local real estate. Thinking of making a move to or within the Auburn, Opelika or Lake Martin communities? Reach out to Ryan Roberts! He’ll help you navigate the ins and outs until you find what you are looking for. Learn more about local neighborhoods and listings by reading our blogs.
