Looking back on Lee County real estate market trends in 2020 compared to now shows promising growth. Read on for a recap of Lee County’s Residential Report for January 2021 from the Alabama Center for Real Estate (ACRE).
Average sales prices increased year-to-year.
The average sales price in Lee County in January 2021 was $289,592. The average sales price in January 2020 in Lee County was $285,891. Therefore, we’ve seen a 1.3 percent increase in the average sales price for our area.
Total residential sales rose.
Compared to the previous year, Lee County saw a boom in the number of total residential sales last month. To clarify, Lee County’s Residential Report for January 2021 shows 176 units were sold. This time last year, 128 units were sold. That’s almost 38 percent more units year-to-year!
Homes are selling faster.
Both buyers and sellers can celebrate the fact homes are spending less time on the market! Compared to January 2020, the past month saw an almost 11 percent decrease of days on the market.
To be specific, homes spent an average of 66 days on the market in January 2021. Whereas one year ago, homes were on the market for an average of 74 days.
Median sales prices remain steady.
Lee County’s Residential Report for January 2021 does show a 1.3 percent decrease when compared to January 2020. However, it shows a slight increase when compared to December 2020. This bump is a positive trend. Homes in our area continue to appreciate in value.
Lee County’s real estate market is slowing down for no one! Thinking about buying, selling or both? Contact Ryan Roberts. For a sneak peek of available properties, click here for more information and photos of Ryan’s listings. To discover more about the Auburn, Opelika ad Lake Martin area, check out his blogs!