Spring isn’t just a time for trees and flowers to bud and bloom. According to these six highlights from Lee County’s April 2024 Residential Report, it’s also a time for our local real estate market to flourish!
Inventory continued to rise year-over-year.
Looking back at April 2023, inventory increased year-over-year—from Lee County properties to Auburn condos! Auburn condos experienced a 65% increase with 13 more listed in April 2024 than in April 2023.
Auburn properties jumped by 30.2% with 315 total homes listed and Lee County had 100 more homes listed last month versus April 2023. Opelika, on the other hand, just increased by two, bringing the total homes listed in April 2024 in that city to 179.
Total properties sold increased.
Here’s another one of the highlights from Lee County’s April 2024 Residential Report that applies to Lee County, Auburn and Opelika. More properties were sold in each area in April 2024 versus April 2023. For instance, Auburn had the largest percentage change at 69.5%. By the numbers, 59 properties were sold in Auburn in April 2023, while 100 properties were sold in April 2024!
Average sold prices also increased.
In Lee County, the average sold price for a home in April 2024 was $430,364, up by $57,973 from April 2023. Auburn homes sold for an average of $478,334 last month, which was an 8.6% increase. For Opelika, the average sold price increased by 22.7% to $389,129.
Homes in Auburn spent less time on the market.
Last April, properties in Auburn spent an average of 61 days on the market. However, in April 2024, that number was 52, meaning homes spent nine fewer days on the market this year.
Lee County and Opelika properties spent more time on the market.
On the other hand, properties in Lee County and Opelika spent more time on the market. More specifically, homes spent an average of 70 days on the market in Lee County in April 2024 versus 65 days in April 2023.
But Opelika saw the biggest jump with a 54.7% increase, going from 64 days to 99!
Auburn condos spent more time on the market.
Another notable increase in the days on the market comes from Auburn condos, which experienced a 355.6% increase year-over-year. To clarify, condos were on the market for an average of 9 days in April 2023. This April, that figure jumped to 41!
Summary
With these highlights from Lee County’s April 2024 Residential Report fresh on your mind, contact Ryan Roberts, your local expert, with any questions about buying or selling in our area. Keep reading our blogs for more community news, events and property showcases.
