Can you believe we’re almost halfway through February? Time really does fly when you are having fun! Let’s entertain ourselves today by comparing Lee County’s housing stats in 2021 and 2022 to see what’s changed.
The number of new listings was down year-over-year.
Key figures that jumped out when comparing Lee County’s housing stats were the total number of new listings per year. Across Lee County, Auburn and Opelika, there were fewer new listings in 2022 than there were in 2021.
For instance, the Lee County market added 2,782 total new listings in 2021. In 2022, that figure dropped to 2,497 new listings. That’s 285 fewer listings in a year.
More properties sold in 2021 than in 2022.
This should come as no surprise since the total number of new listings was lower overall in 2022. However, many homes did sell in our area in 2022.
In fact, in Lee County, 2,576 were properties sold, including 995 new listings and 1,581 existing listings. Auburn saw more than 1,140 properties sell in 2022. Opelika celebrated the closing of 792 properties, which was only 33 less than in 2021.
Average days on the market stayed fairly consistent year-over-year.
When comparing Lee County’s housing stats in terms of time spent on the market, the numbers remained in a close range.
In 2021, for example, listings spent an average of 43 days on the market in Lee County. However, in 2022, that total was down by four days, with an average of 39 days on the market.
Opelika and Auburn weren’t much different. Opelika listings spent an average of two more days on the market in 2022 versus 2021. For Auburn, the average number of days on the market for listings in 2021 was 49. That figure was five less in 2022, at 44 days.
Average sold price increased for all areas.
Lee County, Auburn and Opelika all experienced a year-over-year increase when it comes to the average sold price!
Opelika enjoyed the biggest jump, with a 14.47 percent increase from 2021 to 2022. The average sold price for Opelika homes in 2021 was $286,658, whereas in 2022, that figure was $328,126—a $41,468 difference!
Summary
Don’t let the first two numbers fool you! Month-to-month inventory growth in our area is currently up, which is a plus for local buyers. If you are thinking about buying property in East Alabama, connect with Ryan Roberts to find out more. For additional stats, facts and real estate trends, keep reading our blogs.
