Month to month, year to year—any way you look at it our local real estate market continues its hot streak! These top trends from Lee County’s June 2022 Resident Report are keeping up with May’s trends too.
Inventory is growing.
The good news is buyers have more selection when it comes to local listings for the time being. This is true for Lee County, Auburn and Opelika.
Opelika saw the biggest jump in year-over-year inventory with a 24.4 percent increase. It was followed closely by Lee County, however, with a 14.2 percent increase. Auburn rounds out local inventory with about 14 more homes available compared to June 2021, which shows a 6.3 percent rise.
Listings continue to sell in a hurry.
On average, new listings in Auburn are selling 13 days faster in June 2022 than they did in June 2021. That translates to a 27.7 percent decrease when it comes to days on the market.
Lee County also saw a significant year-over-year difference with homes selling in about 28 days versus 38.
On the other hand, Opelika experienced a 13 percent increase, which means homes spent about 3 more days on the market this June than in 2021.
Auburn condos are moving quickly.
Speaking of days on the market, Auburn condos are hot! In June 2021, condos were sitting on the market for about 56 days. Last month, that figure was 10. That’s a whopping 82.1 percent difference!
Average sold prices for homes remain high.
When it comes to trends from Lee County’ June 2022 Resident Report, this is one trend sellers continue to smile about.
For instance, the average sold price for Auburn homes in June 2022 was $457,992. This figure represents a 23.2 percent increase over the same time last year! Opelika saw an 18.9 percent jump, and Lee County was close by with a 17.6 increase.
Auburn condos are selling for a little less.
Remember those Auburn condos that are selling quickly? Buyers are seeing a slight price improvement in that niche!
In June 2021, Auburn condos were selling for about $255,692. This June, the average price was $241,604, which is 5.5 percent less.
Summary
Do these trends from Lee County’s June 2022 Residential Report have you thinking it’s a good time to make a move? Contact Ryan Roberts now to start your real estate adventure off right! Keep reading our blogs for more trends, news and local spotlights.
