MARKET UPDATE FOR AUBURN/OPELIKA FEBRUARY 2010

Monday Mornings with Ashley -  February 22, 2010

What's happening in the real estate market for Auburn and Opelika?

My how time flies! We are already almost two months into 2010. This weekend gave us a taste of spring and the beautiful weather we get to enjoy here in Alabama. Also, there are signs that the market is ‘heating’ up too. The housing market is one of the first indicators of a return to a more stable economic environment. This being the fourth Monday of the month, I am writing my “State of the Housing Market” for Auburn and Opelika.

604HerndonStreet.info FEATURED LISTING in Opelika

CLICK HERE FOR HOMES FOR SALE AND SOLD STATS IN AUBURN, OPELIKA & LEE COUNTY

The link above will take you to housing numbers for January 2010 in Auburn and Opelika. You make your own conclusions from the numbers but here are a few things I notice. The biggest positive I see in the combined numbers is the total number of houses on the market. This number is down 94 units. A balanced inventory is a step in the right direction to recovery. The number of properties that sold in January was down in Auburn from a year ago by 11 but up by 10 for Opelika. The overall average sales price has been steady with only about a $2,000 change up from a year ago.

This Thursday (2-25-2010) I will attend the Alabama RE/MX Awards!  RE/MAX continues to be a top real estate franchise nation wide!

The most encouraging numbers are not on this link but from figures I was able to pull from MLS. Since January 1, 2010 there are 61 properties in Auburn that have gone pending. This shows that buyers have been active the first part of this year. In Opelika there have been 29 properties that have gone pending since January 1, 2010. With the first time buyer’s credit coming to a close on April 30 (for having a contract), buyers are getting out there and finding a place to call home.

I wrote contracts on these two houses for first time buyers this last week.  Each are getting married and a new house all within the next three months!

I feel very positive about the real estate market for 2010.  It is a great time to buy with excellent interest rates, good inventory and extra credits available. Also, it is a good time to sell because there are more buyers in the market. Well priced and well kept homes still sell quickly in the Auburn/Opelika market. 2010 is going to be an excellent year to make your move!

Congrats to the Goodes who closed on their new house the first week of February!

Ashley D. Miller - 334-332-8328 - http://www.ashleydmiller.com/ - ashleymiller@remax.net

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