Auburn/Opelika Real Estate Blog
Stay up to date on changing Auburn/Opelika real estate news and economic developments that impact local real estate markets. Get critical insights from market reports, sales info and important trend data for our area.
May 2019 Local Market Snapshotposted June 11, 2019 by the Invest-Auburn.com Team
May was another strong month for home sales in our local markets. The absorption rates for Opelika and Auburn indicate excellent seller’s markets with listing inventories being depleted in about 2 and 3 months, respectively.
However, the average residential sale decreased marginally in price versus 2018 (↓2.8% YOY in Auburn and ↓0.01% YOY in Opelika) while the number of homes sold decreased by 16% YOY in Auburn and were down 4.5% YOY in Opelika.
Interest rates for 30 yr fixed conventional mortgages ended May at 3.99%, continuing their current downward trend since the peak of 4.94% in Nov. 2018.
For a PDF with these data and historical data going back to 2008, call or text Kathy (334/740-9212) or Tony (334/559-0936) or send us an e-mail by clicking here.