Today is your lucky day if you love keeping up with our local real estate trends! It’s time to take a look at February 2022 real estate in Lee County and see how the figures compare to last year.
Median sales prices are higher.
To summarize, year-over-year median sales prices in our area are up across the board! For instance, Auburn’s median sold price in February 2021 was $315,562. Last month, that figure rose to $369,887.
Listings are spending less time on the market.
Houses are going like hot cakes around here! Seriously, on average houses are spending about 44 days on the market in Lee County. That’s compared to 68 days on the market at this time last year, which is approximately a 35 percent decrease.
Auburn condo stats when it comes to days-on-market are even more drastic. From February 2021 to 2022, the average number of days Auburn condos spent on the market went from 47 days to just 10! That’s nearly a 79 percent decrease.
Average sales prices continue to rise.
This is one local real estate stat that never gets old for homeowners and sellers! In general, both Lee County and Auburn enjoyed more than a $20,000 increase in average sales price from February 2021 to February 2022.
But Opelika takes the cake with average sold price going from $251,435 in February 2021 to $321,221 last month. That’s a $69,786 difference—a 28% increase!
Inventory is low.
With a look at February 2022 real estate in Lee County, one thing is clear. Inventory is down year-over-year.
By the numbers, that means Lee County dropped from 359 houses on the market in February 2021 to 269 in February 2022. For Auburn, those figures went from 227 houses and 67 condos on the market in February 2021 to 157 houses and 25 condos last month.
And, last but not least, Opelika rounds out our area with a total of 86 houses on the market in February 2022 versus 102 last February.
Properties sold remains steady.
In spite of a dip in overall inventory, February 2022 saw comparable—if not better—figures when it comes to total properties sold.
Compared to last February, Lee County residential sales jumped by 20 total properties. It went from 149 sold in February 2021 to 162 properties sold last month.
Summary
Does a look at February 2022 real estate in Lee County have you feeling like now may be the right time for you to make a move? Whether you are interested in buying or selling, or both, contact Ryan Roberts today to get started. For more local real estate stats, trends and tips, keep reading our blogs!