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BUYING HOMES IN AUBURN IN 2012

Weichert Realtors Porter Properties
January 13, 2012

Should buyers be excited about buying homes in Auburn in 2012?

What does the 2012 real estate market look like?

Buying homes in Auburn in 2012Based on the past performance of local real estate markets, 2012 is going to be an exciting year for buying and selling homes in Auburn and Lee County, Alabama. After years of steady growth and appreciating property values, Auburn homes and property values across the U.S. have dropped.

Despite these turbulent conditions in local and national realty markets, home sales are up, prices are down and the housing inventory is moving quickly.

Attractive prices for historic homes, suburban properties, condos and new constructions mean faster sales and a housing inventory that has dropped 7.5 percent. Today, and as we move further into 2012, there will be plenty of properties available so buyers can take advantage of competitive prices while enjoying a comprehensive selection of properties across the Auburn – Opelika AL area. Current statistics show there are more than 900 local properties with a median price of $149,000, which means many homes could be yours for less than $100k.

According to data from the Alabama Center of Real Estate (ACRE), an organization affiliated with the University of Alabama, the average sale price for homes in the Opelika-Auburn Area and Lee County dropped 15 percent during 2011, which means a three-bedroom house with top-notch amenities can be purchased today for $160,000 compared to the $177,000 a buyer would have paid for the same house a year earlier.

New Construction Homes in 2012

The pricing of new constructions homes in Auburn have seen a modest increase of 5.9 percent during the past year, which means 2012 will be a great time to purchase a new home or condo before the prices go up. One of the most exciting statistics is Auburn home sales have increased more than 24 percent over the past year. In fact, the ACRE reported that growth in the Auburn real estate market exceeded the state average where 64 percent of local markets experienced improved sales numbers.

Buying and Selling Homes in Auburn in 2012

As a current homeowner looking to sell, your chances of finding a buyer quickly are growing all the time. The year 2012 will be a great time to buy and sell Auburn homes. Auburn real estate market forecasts and predictions from the statistical analysis provider Forecast-Chart.com estimate home prices may continue to fall over the next 12 months, which means now is the ideal time to list your home, trade up or secure your first property.

Viewing Homes in Auburn for Sale

Whether home values go up or down, some things will always stay the same here in beautiful Auburn, Alabama, like our top-rated schools, Auburn University and the historic downtown area. If you’re buying, selling or relocating to this thriving college community for work, school or family, 2012 will provide you with a great window of opportunity. Use the online map search feature at http://www.PorterProperties.com to search, save and share your favorite properties.