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AUBURN HOME AND REAL ESTATE MARKET SNAPSHOT UPDATE

Weichert Realtors Porter Properties
June 11, 2012

Homes for sale in Auburn fluctuate in sales price, list price and days on market depending on the local real estate market. Home sellers want to see increasing sales prices and home buyers desire decreasing sale prices. So what has changed in the past 12 months?

Is it a buyers or sellers real estate market?

Auburn Home of Residential Sales Chart – Comparing May 2011 to May 2012

  Number of Sales Average Sales Price Sales Price Compared to List Price % Average Days on Market
May 2011        
Houses (total) 63 $211,739 92.7% 170
Condos (total) 25 $130,141 92.7% 267
New Houses 12 $259,749 92.7% 273
Existing Houses 51 $200,433 92.7% 145
Condos 25 $130,141 92.7% 267
May 2012        
Houses (total) 51 $253,405 97.2% 163
Condos (total) 27 $122,352 93.9% 250
New Houses 23 $266,080 99.9% 169
Existing Houses 28 $242,993 94.9% 159
Condos 27 $122,352 93.9% 240

Auburn Home Sales Overview

During the month of May 2011 there were a total of 88 Auburn home sales. In May of 2012 there were a total of 78 real estate sales. While these numbers are similar the average sales price of these Auburn houses increased 17%. Interestingly the average Auburn condo sales price decreased from $130,141 to $122,352.

New Construction Auburn Home Sales

While existing homes remain steady there has been an increase in purchased new construction homes in May 2012 compared to the prior year.

The total number of new construction homes nearly doubled during this timeframe, with less than a 3% increase in the average sales price. Also notable is new construction home sales in Auburn accounted for over 25% of all real estate transactions in May 2012.

Auburn Real Estate Market Summary

While the average time to sell a home is more 163 days for houses and 267 days for condos, home sales and pricing appear to be holding steady. All categories have a 90% or higher property sales price compared to the listing price.

Understanding the Real Estate Market Numbers

Contact Weichert Realtors® Porter Properties to learn more about the Auburn real estate market and how these numbers effect your next transaction. They can help home sellers price their property for faster sales time and help buyers make informed purchasing decisions.

Weichert Realtors® Porter Properties

472 North Dean Road
Suite 200
Auburn, AL 36830

Phone – 334-887-2070