Top 5 Most Improved Markets in August

Top 5 Most Improved Markets in August

Topics: Research, Residential Real Estate

Markets: Athens (Limestone County), Baldwin County - All, Baldwin County - Condo Only, Birmingham Metro, Calhoun County, Cherokee County

The Alabama Center for Real Estate created the following rankings based on year-over-year (YOY) growth in total residential sales during August.

  1. Morgan County - 37.6 percent

  2. Shoals Area - 18.8 percent

  3. Athens - 16.9 percent

  4. Montgomery - 15.0 percent

  5. Dothan - 13.6 percent

 

Morgan County: Residential sales volume in the Decatur area increased 37.6 percent YOY from 133 to 183 transactions. Year-to-date sales reached a total of 1,158 closed transactions, an increase of 13.2 percent from one year ago. The median sales price increased 25 percent from $128,000 to $160,000. The year-to-date median sales price increased 14.9 percent from $122,388 to $140,675. Inventory decreased 28.8 percent from 660 residential listings one year ago to 470 in August. Months of supply decreased from 5.0 to 2.6, while average days on market (DOM) dropped from 88 to 67.  

 

Shoals Area: Residential sales volume in the Florence-Muscle Shoals area increased 17.4 percent YOY from 176 to 209 transactions. Year-to-date sales reached a total of 1,363 closed transactions, an increase of 15.2 percent from one year ago. The median sales price increased 13.3 percent from $135,000 to $153,000. The year-to-date median sales price increased 5 percent from $131,500 to $138,139. Inventory decreased 10.9 percent from 995 residential listings one year ago to 887 in August. Months of supply decreased from 5.7 to 4.2, while average days on market (DOM) was unchanged from 80 one year ago.

 

Athens: Residential sales volume in the Athens area increased 16.9 percent YOY from 160 to 187 transactions. Year-to-date sales reached a total of 1,246 closed transactions, an increase of 12.8 percent from one year ago. The median sales price increased 7 percent from $190,532 to $203,900. The year-to-date median sales price increased 8.9 percent from $186,548 to $203,205. Inventory decreased 25.3 percent from 665 residential listings one year ago to 497 in August. Months of supply decreased from 4.2 to 2.7, while average days on market (DOM) dropped from 85 to 46.

 

Montgomery: Residential sales volume in the Montgomery metro area increased 15 percent YOY from 393 to 452 transactions. Year-to-date sales reached a total of 3,226 closed transactions, an increase of 7.5 percent from one year ago. The median sales price decreased 8.9 percent from $160,000 to $145,700. The year-to-date median sales price increased 0.2 percent from $149,477 to $149,713. Inventory decreased 9.3 percent from 2,289 residential listings one year ago to 2,076 in August. Months of supply decreased from 5.8 to 4.6, while average days on market (DOM) dropped from 107 to 92.


Dothan: Residential sales volume in the Dothan area increased 13.6 percent YOY from 118 to 134 transactions. Year-to-date sales reached a total of 1,027 closed transactions, an increase of 12 percent from one year ago. The median sales price decreased 5.8 percent from $147,250 to $138,700. The year-to-date median sales price decreased 4.5 percent from $153,738 to $146,875. Inventory decreased 7.7 percent from 1,135 residential listings one year ago to 1,048 in August. Months of supply decreased from 9.6 to 7.8, while average days on market (DOM) dropped from 132 to 122.