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 RoadSuite 200Auburn, AL 36830
Phone – 334-887-2070