What’s Happening in the Auburn/Opelika Market? - March 29, 2010

Monday Morning’s with Ashley – What’s Happening in the Auburn/Opelika Market?

March 29, 2010

When I looked at the numbers from February sales about two weeks ago I was not very impressed. When just looking at the sold numbers and number of houses that came on the market in February it appeared things were not looking so good for Lee County. If you also look at national numbers, February was just an awful month all around for real estate. There are factors from weather to the market in general that can help explain why the month was so off. Luckily, the calendar turned to March and the weather is slowly heating up, as well as our market.

NEW LISTING: 517 Dumas Drive, Auburn EXCELLENT LOCATION!!

For a look at the numbers check out this link: CLICK HERE FOR HOUSING STATS FOR AUBURN, OPELIKA & LEE COUNTY FOR FEBRUARY 2010.

RE/MAX Professional Partners at the Alabama Success Celebration!

Bottom: Debbie King, Annette Langley (President's Club), Christina Soler

Back: Larry Keeble (President's Club), Scott Langley (President's Club), Ashley Miller (100% Club)

I want to make just a few quick points about the numbers from the above link. First, the total number of sold units was down by 15 from last year. This number was cut in half this month while Opelika held more steady at only a loss of 4 total units. Second, new listings were up by over 100 homes from a year ago but the total number of homes on the market is down by 19 homes. Third, the condo market in Opelika is NOT moving at all. There have been very few condos to sell in the last 6 months in Opelika. Auburn’s condo market is slow to respond positively too. There are more condo units on the market with 9 fewer selling this February than last.

NEW LISTING IN COBBLESTONE: 959 Sandstone Lane, Auburn

Now that you have looked over the numbers and read a little commentary on what you can see let me end on a more positive note. Since March 1, 89 homes in Auburn/Opelika have went into pending status. Fifty-six of these homes were in Auburn and thirty-three in Opelika. Pending is when a home has a contract ‘pending’ closing. Usually homes stay within this status for 30-60 days to get inspections and other items together for mortgages and the closing. This is an excellent sign of activity in the market.

Part of the flurry has to do with the home buyer tax credit. In order to apply for the credit you must have a contract in writing by April 30, 2010 and close by June 30, 2010. So, as you can see the time if getting nearer to take advantage of this opportunity. Click this link for more info on the home buyer tax credit.


Come back and check out the update for April to see if the number of sold properties improves for the month of March.

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