Another month come and gone. Goodbye July—we’ll miss your sizzling sales, but not your sizzling heat. Speaking of sales—let’s walk through the local real estate market from last month. That’s right: it’s time for the highlights of Lee County’s July 2021 Residential Report, from the Lee County Association of Realtors. Get comfy—we’re ready when you are!
A relatively even volume of new listings
The volume of new listings in Lee County appears pretty evenly-balanced from July 2020 to July 2021. That time last year, the market featured 230 new listings. Then, in July 2021, that number only slightly decreased to 223 new listings.
Decrease in average days on the market all across the board
Good news if you want to sell! Home sellers have seen a decrease in the average days on the market, compared to last July. Back then, Lee County homes spent an average of 86 days on the market, as opposed to 37 days last month.
Homes on the market
Next up on Lee County’s July 2021 Residential Report: the number of houses on the market. Auburn had 265, while Opelika had 100. In total, Lee County featured 400 homes on the market this past July.
A drop in homes on the market
It looks like inventory has decreased in the past year! In July 2020, there were 499 Lee County homes on the market, with 331 in Auburn and 127 in Opelika, as compared to the 400 in July 2021.
Condos on the market
Last month, Lee County had a reported 30 condos on the market. Of those condos, 26 were located in Auburn and 4 were located in Opelika.
A big difference in condo inventory
Wow! In the past year, condo inventory has faced a big drop—with a caveat. Back in July 2020, there were 95 Lee County condos in the market, with 95 in Auburn and 0 in Opelika. So, while the volume of Auburn condos on the market has decreased drastically, the volume of Opelika condos on the market has risen slightly.
Growth in average sales prices
We have words all homeowners want to hear: “Your home is worth more than it was last year.” In the past year, the averages sales price for Lee County homes has grown from $297,599 to $351,508.
A rise in median sales prices
Backing up the previous point, the median sales price has also risen from July 2020 to July 2021. A year ago, it stood at $270,956. Now, it’s $306,455.
An impressive increase in total property sales
We saved the showstopper for last! The total property sales sold dollar volume jumped from $76,780,561 to $86,470,988–in just a year. That’s a difference of almost $10 million!
Summary
You’ve seen Lee County’s July 2021 Residential Report. The question is: do you want to see if you can become one of the successful stats?
Whether you want to buy, sell, or both, Ryan Roberts can help you navigate the market with expertise and ease. Contact him here to get started! Finally, for more on the market—and how you can leverage it to your advantage—check out our blog.
