Are you ready to see how 2022 is playing out so far in real estate terms? Then you are ready for a recap of trends from Lee County’s January 2022 Residential Report highlighting the ups and downs!
Median sales prices are staying up, up, up!
Let’s start a recap of trends from Lee County’s January 2022 Residential Report on a high note! In general, the median sales price for residential listings in Lee County for January 2022 totaled $300,000.
This represents about a $17,000 increase from January 2021.
To break these figures down further, the median average for residential listings sold in Auburn was $320,000, which was an $11,000 boost year-over-year.
Meanwhile, Opelika enjoyed the biggest bump in median sales prices at $308,060—up more than $57,000 from January 2021!
Houses are spending less time on the market.
Compared to January 2021, listed houses in our area spent fewer days on the market this past January.
For instance, in January 2021, homes were on the market for an average of 90 days in Auburn versus 46 average days for January 2022. That’s a 44-day difference!
Opelika and Lee County both spent less time on the market year-over-year as well. Opelika went from an average of 59 days last year to 21 days this year. Lee County went from 74 days on the market to 34.
Inventory remains low.
Overall, inventory remains low. But month-to-month figures for Opelika, at least, remain fairly steady. In December 2021 Opelika had 94 houses on the market and in January 2022 that number was 91.
Auburn, on the other hand, experienced a bigger drop month-to-month and year-over-year. From December to January, there was a 14-house difference. Year-over-year that number decreased by 79 bringing Auburn’s January listings to a total of 177.
Average sales prices continue to rise.
Once again, these figures can speak from themselves! The average sold price for Lee County in January 2022 was $335,897—up more than $37,000 from January 2021.
For Auburn, January 2022’s average sales prices were around $365,969 and Opelika’s average was right at $319,665 making it the largest area increase.
To be more specific, the average sales price in January 2022 in Opelika was up more than $55,000 from the previous year!
Summary
With a recap of trends from Lee County’s January 2022 fresh on your mind, are you ready to make a real estate leap? Think it over as you discover more local trends and news when you continue to read our blogs!