Sales: According to the Shoals Area Association of Realtors, December residential sales increased 20.5% year-over-year from 161 to 194 closed transactions. Sales decreased 4.4% from November, and are now up 17.9% year-to-date. 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 December declined 60.1% year-over-year from 695 to 277 listings. Months of supply declined from 4.3 to 1.4, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in December was $163,950, an increase of 18.8% from one year ago and a decrease of 3.6% from November. 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 December averaged 47 days on the market (DOM), 29 days faster than December 2019.
Forecast: December sales were 16 units, or 9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 178 sales for the month, while actual sales were 194 units. ACRE forecast a total of 2,341 residential sales in the area year-to-date, while there were 2,504 actual sales through December, a difference of 7%.
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 December 1 – 31, 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.