Our county is starting the year off strong. Coupled with January 2021’s Residential Report, the new facts and figures from the Alabama Center for Real Estate show promise. Want to learn exactly what they entail? Let’s examine the new data on Lee County real estate in February 2021.
No Need to Wait
After all that time spent in quarantine, folks won’t waste any more momentum! The drop in days spent on the market reflects this change. In the past year, they’ve fallen by 28.1 percent. That means they went from 96 days in February 2020 to 69 days in February 2021.
Rising Residential Sales
Lee County real estate in February 2021 isn’t looking too shabby—especially when it comes to total residential sales. They rose from 168 units last year to 188 units this year, or by 11.9 percent.
High Demand, Lower Supply
This time last year, 645 homes sat on the market. Now, just 293 homes await buyers. That plummeting percentage? A drop of 54.6 percent! It also makes giving the right offer—and working with a savvy Realtor—even more important in 2021.
Awesome Average Sales Prices
The growing average sales prices mean profits for past sellers. They also mean that homes in the county follow a pattern of appreciation. That denotes good news for the whole market. As for the numbers: the average sales price grew from $283,610 to $299,294 in the past year, or by 5.5 percent.
Making More with the Median Sales Price
The median sales price also lines up with the average overall, confirming a rise in profits. Compared to last year, the median sales price has grown by 9.7 percent! In February 2020, it stood at $250,739. In February 2021, it reached $274,950.
Knowing the ins and the outs of the market can provide peace of mind—or a much-needed boost to enter the market. After a look at the market, you may have made up your mind! After all, Lee County real estate in February 2021 is thriving.
You want to buy. Or maybe, you aim to sell. Even more excitingly, maybe you hope to do both! No matter your goals, Ryan Roberts has the knowledge and experience to help. Not to mention, he can explain how to make your offer stand out from the competition. Contact him here to begin mastering the market. Finally, for more on local real estate trends, property showcases, neighborhood spotlights, and more, visit our blog here.