JANUARY 2020 - MARKET MINUTE UPDATE - AUBURN/OPELIKA HOME SALES STATS
January 2020 - Auburn/Opelika Real Estate Sales Stats
📊 Hey, Auburn & Opelika!
Here is your Market Minute detailing AUBURN & OPELIKA home sales stats for January 2020. Thank you for watching and I look forward to keeping your informed in 2020 for all things happening the Auburn/Opelika housing market.
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This is Ashley Miller from RE/MAX Professional Partners coming to you from Auburn’s Jane B. Moore softball complex. Today is opening day for our Lady Tigers in Clearwater, FL. The first home game is next Thursday, 2-13 against Kennesaw State. Good luck and War Eagle this season!
In this market minute update, I want to inform you about the real estate stats for Auburn and Opelika.
For Auburn in January 2020 there were a total of 46 single family homes that sold. This was down 4 units from 2019. Of those 46 homes, 20 were new construction homes. The price increased 9% to $358,864. The average price per foot was $140.85. The average days on the market was 90 days. Auburn’s single family inventory includes 163 new or proposed construction and 132 resale homes.
The Auburn condo market sold a total of 18 units in January which was down 4 units from previous January. The average price increased by 6% to $206,967. The average days on the market for the sold in January was only 24 days. There are currently only 43 condos on the market in Auburn. This is right at a 2-month supply.
Opelika sales are off to a great start as well. A total of 33 single family homes sold in Opelika in January 2020. 17 were resale homes and 16 new construction. The average sales price was up 25% for the month over year comparison to $287,079. The average per foot price was $116.58/sq ft. The average days on the market was 78 days in Opelika. Currently there is a 3.7-month supply of homes on the market in Opelika. However, there are only 43 resale homes out of the total 122 home for sale right now. If you are considering selling in Opelika, the resale inventory shortage should help you in getting a quick sale at a good price.
The Auburn/Opelika real estate market is off to a good start in 2020. With interest rates staying low and inventory being in short supply, sellers can expect to see good results if you price your property in line with market trends. Buyers will need to be prepared to make competitive offers, get pre-approved before starting the process and be ready to make quick decisions should you see something that fits your needs. I hope this is helpful to you in making any real estate decisions this year. If you know someone that is considering buying or selling, share this video with them. If you have not already, subscribe to my Youtube page and connect on Facebook, Linked In or Instagram to stay up to date with all that is happening in our area. I am excited to annouce a new series that will be starting this month to highligh local business, restraunts, events and locations. Stay tuned to learn more about all the wonderful things Auburn and Opelika have to offer. I hope you have a great day!