Lee County residential sales improve 16% in December; 2013 sales up 4%!!

By January 24, 2014Ashley

This is SUPER news for our area, folks and a GREAT read. Enjoy!

By Alabama Center for Real Estate (ACRE)
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on Janu4, 2014 at 10:41 AM, updated January 24, 2014 at 10:52 AM

December residential sales in Lee County totaled 88 units representing a 15.8 percent improvement from the same period last year and 1 unit above our forecast for December. For the year, the Lee County market experienced sales growth of 3.8 percent over last year. In 2012, Lee County experienced sales growth of 9 percent.

Our 2013 forecast for Lee County projected 1,338 closed transactions – actual closings were 1,280 units or 4.3 percent below forecast.

Supply: The Lee County housing inventory in December was 825 units, a decrease of 10.4 percent from December 2012 and 33.9 percent from the month of December inventory peak in 2010 (1,248 units). There was 9.4 months of housing supply (8 months considered balanced market in December) in December 2013 versus 12.1 months of supply in December 2012, representing a significant drop of 22.6 percent which is good news for the market.

To read the article in it’s entirety, please click on the following link:

http://blog.al.com/acre/2014/01/lee_county_area_residential_sa_2.htm

 

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