As we enter a new year predicting changes in the local real estate market, let’s take some time to look back to see how we ended 2024. Here are five takeaways from Lee County’s December 2024 Residential Report.
The number of homes listed has increased.
In December 2024, the total number of homes listed increased across the board in Auburn, Opelika and Lee County.
Rising from 293 in December 2023 to 314 in December 2024, Auburn saw a 7.2% increase, while Opelika saw a 1.9% increase, rising from 213 homes listed in 2023 to 217 homes listed in 2024. Overall, Lee County’s housing inventory rose from 562 homes listed to 617 homes listed—a 9.8% increase!
The average sold price has increased.
Looking at these takeaways from Lee County’s December 2024 Residential Report, we can see the average sold price rose in all areas.
The average sold price in Auburn increased from $483,207 in December 2023 to $510,307 in December 2024—a 5.6% increase. Opelika’s average sold price increased from $370,043 in December 2023 to $394,331 in December 2024—a 6.6% jump.
Accordingly, the average sold price in Lee County rose from $420,384 in December 2023 to $448,168 in December 2024—a 6.6% rise.
Homes are spending less time on the market in Lee County and Opelika.
Homes spent fewer days on the market in most areas. For example, in Lee County overall, homes experienced a total of 1 day less on the market year-over-year, averaging 62 days for December 2024. In addition, Opelika homes have also spent less time on the market, averaging 69 days for December 2024, which is down 13 days from December 2023.
On the other hand, Auburn saw a slight increase in days on the market, rising from 53 days in December 2023 to 59 days in December 2024.
The number of properties sold has increased in Lee County and Opelika.
With more inventory and homes moving quickly in these areas, Lee County and Opelika both saw an increase in the number of properties sold in the area.
Comparing Lee County properties sold in December 2023 to those sold in December 2024, we see a 6.4% increase from 140 to 149. Corresponding with this, Opelika properties saw a 4% increase.
Auburn was the odd one out, with sold properties decreasing from 75 in December 2023 to 74 in December 2024.
Auburn condo listings and sales are up.
In other Auburn real estate news, Auburn condo sales increased! In addition, the total number of condos listed also increased year-over-year in December.
Summary
These five takeaways from Lee County’s December 2024 Residential Report have shown many changes and offer a glimpse of what’s to come. So, if you are ready to move this year, contact Ryan Roberts!
In the meantime, continue reading our blogs for more real estate updates and local news.
