Thanksgiving, the Iron Bowl and these five highlights from Lee County’s November 2023 Residential Report are still making November memorable in one way or another.
Average sales prices were up.
From Auburn condos to Opelika homes, year-over-year figures showed an increase in average sales prices locally. Homes in Opelika, for instance, sold for an average of $329,989 this November, which was $3,391 more than in November 2022.
Auburn’s average sales price went up by 16.3 percent to an average of $501,859 in November 2023. Auburn condos experienced a 14.7 percent increase, averaging $292,050, which equals a $37,500 difference year-over-year.
The number of total properties sold decreased.
On par with the national trend, fewer total properties were sold in our area year-over-year. Overall, a total of 122 properties were sold in Lee County in November 2023. That figure was 161 in November 2022, which is a 24.4 percent drop.
Auburn condos spent less time on the market.
Around here, this was the exception rather than the rule. Auburn condos spent about a week less on the market in November 2023. More specifically, condos were on the market for an average of 26 days. Whereas in November 2022, condos were on the market for 33 days.
Homes spent more time on the market.
On the other hand, homes spent more time on the market in November 2023, giving buyers more time to find what they were looking for. Lee County homes, for example, spent an average of 39 days on the market in November 2022. In November 2023, that figure increased by 48.7 percent to 58 days.
There was an increase in inventory.
Here’s one of the highlights from Lee County’s November 2023 Residential Report that provided buyers with holiday glee. They had more properties to explore, along with that extra time, to find the right home for them.
Lee County, for example, experienced a 22.7 percent jump, with 103 more homes hitting the market in November 2023, for a total of 557 listed homes last month.
Summary
If these top highlights from Lee County’s November 2023 Residential Report have piqued your interest in buying or selling in Lee County, Opelika and Auburn, reach out to Ryan Roberts to find out more! You can also learn more about his listings, additional real estate trends and other local news by reading our blogs.
