It’s that time once again. Take a break as we review five key points from Lee County’s November 2024 Residential Report. Did inventory continue to go up? How are average sold prices faring? Did days on the market decrease? Find the answers below!
More total properties sold year-over-year.
One trend stood out across Lee County, Auburn and Opelika. More total properties were sold in our area in November 2024 versus November 2023. More specifically, Lee County experienced a 24.2% increase in properties sold in just one year. That equals 30 more homes sold!
In Auburn, that figure jumped from 53 in November 2023 to 78 last month, a 47.2% increase. Rounding things out is Opelika with a 1.8% jump, or one more property sold, in November 2024 for a total of 57.
Inventory increased in Lee County and Auburn.
Inventory continues to increase year-over-year in Lee County and Auburn, helping our area close the gap between need and want! In November 2024, 588 homes were listed compared to 557 in November 2023. The Auburn market experienced a boom with 308 homes last month, 25 more homes than the year before.
Opelika saw a year-over-year decrease in inventory.
On the other hand, Lee County’s November 2024 Residential Report shows that Opelika experienced a 9.1% decrease in inventory. In November 2023, Opelika had 220 homes listed while November 2024 had 200.
Auburn condos and Opelika homes spent more time on the market.
While homes in Lee County and Auburn spent less time on the market last month, properties in Opelika and Auburn condos both spent more time available. Properties in Opelika spent an average of 70 days on the market in November 2024 and 54 days on the market in November 2023 for a 29.7% jump.
Auburn condos went from 26 days on the market in November 2023 to 59 days in November 2024. That’s a whopping 126.9% increase!
The average sold price in Lee County and Auburn decreased.
An interesting trend in our area continues as the average sold price in Lee County and Auburn decreased in November. The most notable decrease is in Auburn, where homes sold for an average of $499, 230 in November 2023 and $439,975 in November 2024.
To clarify, that’s an 11.9% drop, equaling $59,255!
Summary
With Lee County’s November 2024 Residential Report fresh on your mind, contact Ryan Roberts to ask more about local inventory, days on the market and average sold prices. For more real estate and community news, keep reading our blogs.
