Have you been following along with local real estate trends or recently taken part in a buying or selling transaction in our area? If so, you may not be surprised to read that Auburn ranks among Alabama cities with the fastest-growing home prices.
The trend
Of course, we’ve been following our local stats closely when it comes to the rising prices of homes. But we aren’t the only ones who have taken notice of the price increases in the Auburn metro area.
According to Stacker, data collected from Zillow shows Auburn ranks among Alabama cities with the fastest-growing home prices. Other cities included on the list are Tuscaloosa, Montgomery, Mobile, Huntsville, Gadsden, Dothan and Birmingham.
In fact, the data breaks down the entire Auburn metro area sharing additional cities riding the same high-price wave.
The data
To clarify, the rankings are based on one-year price changes from April 2021 to April 2022. According to the report, the average home value rose by about 21 percent nationwide.
Interestingly, while Auburn ranks among Alabama cities with the fastest-growing home prices, it isn’t at the top of our more refined local list.
Auburn metro stats
In the Auburn metro area, nearby Waverly hits number one. The one-year price change reflects about a 26.3 percent price increase. By the dollar, that figure is around $45,748-plus.
Additional data shows the 5-year price change is even more drastic with an 83.4 percent jump! That’s about a $99,819 difference.
It’s important to note that homes in several popular Auburn neighborhoods, like The Preserve, are located in Auburn city limits, but have Waverly postal codes. Thus, those home records contribute to Waverly’s data in these types of rankings.
The City of Auburn does rank second on our local list. In a year, the average prices for homes increased by about 15.4 percent. More specifically, prices increased by about $43,072.
Auburn’s five-year price chance is also noteworthy. Overall, the price of homes has increased by a whopping $104,034. That’s about a 47.5 percent rise.
Finally, the top third is rounded out with Opelika experiencing about a 14.5 percent upsurge in the last year. Housing prices in Opelika have gone up by about $29,204 in a year.
Wondering what the five-year spread looks like? Prices have increased by about 46.9 percent, which is about $73,782 more.
Summary
Demand is high and inventory remains low—and the trend of higher priced homes in our area doesn’t appear to be slowing down. If you are considering selling or buying in our area, there is no better time to connect with Ryan Roberts. His knowledge and expertise will help guide you through the ups and downs of our local market with ease. Continue to find out more about local real estate, local listings and other industry news by reading our blogs.