While many metro areas report slowing sales activity, home sales increased in the Shoals Area in April 2020

Sales: According to the Shoals Area Association of Realtors, April residential sales increased 30.9% year-over-year from 136 to 178 closed transactions. Following seasonal trends, sales decreased 10.1% from March. Sales are now up 22.4% year-to-date, but are likely to moderate due to the economic impact of the COVID-19 pandemic. Two more resources to review: Quarterly Report and Annual Report.

For all of the Shoals Area’s housing data, click here.

Inventory: Total homes listed for sale in April declined 26.9% year-over-year from 818 to 598 listings. Months of supply declined from 6.0 to 3.4, reflecting a seller’s market in the area.

Pricing: The area’s median sales price in April was $149,700, a decrease of 5.6% from one year ago and a decrease of 0.2% from March. This indicator can fluctuate from month to month because of the sampling size of data and seasonal buying patterns. Homes sold in April averaged 73 days on the market (DOM), 37 days faster than April 2019.

Forecast: April sales were 18 units, or 9.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 196 sales for the month, while actual sales were 178 units. ACRE forecast a total of 696 residential sales in the area year-to-date, while there were 660 actual sales through April, a difference of 5.2%.

Click here to view the entire monthly report.

The Shoals Area Residential Monthly Report is developed in conjunction with the Shoals Area Association of Realtors.

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period  April 1 – 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market. 

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