Sales: According to the Southeast Alabama Association of Realtors, September residential sales in the Dothan area increased 30.6% year-over-year from 160 to 209 closed transactions. Sales increased 49.3% from August, and are now up 9.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Dothan area’s housing data, click here.
Inventory: Total homes listed for sale in September declined 47.6% year-over-year from 807 to 423 listings. Months of supply declined from 5.0 to 2.0, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The Dothan area median sales price in September was $170,000 an increase of 3% from one year ago and an increase of 2.3% from August. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.
Homes sold in September averaged 119 days on the market (DOM), 10 days faster than September 2019.
Forecast: September sales (209) were 78 units more than the Alabama Center for Real Estate’s (ACRE) monthly forecast (131). ACRE forecast a total of 1,173 residential sales in the Dothan area year-to-date, while there were 1,421 actual sales through September, a difference of 21.1%
Click here to view the entire monthly report.
The Southeast Alabama Residential Monthly Report is developed in conjunction with the Southeast Alabama Association of Realtors to better serve Dothan-area consumers.
Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period September 1 – 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market.
