Wiregrass region home sales increase in April from one year ago

Sales: According to the Wiregrass Board of Realtors, April residential sales increased 61.9% year-over-year from 97 to 157 closed transactions. Following seasonal trends, sales increased 15.4% from March. Sales are now up 18% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all of Wiregrass’s housing data, click here.

Inventory: Total homes listed for sale in April declined 56.4% year-over-year from 360 to 157 listings. Months of supply declined from 3.7 to 1.0, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $185,500, an increase of 9.4% from one year ago and an increase of 9.6% from March. 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 April averaged 69 days on the market (DOM), 27 days faster than April 2020.

Forecast: April sales were 27 units, or 20.35%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 157 residential sales for the month, and actual sales were 130 units sold. ACRE forecast a total of 478 sales in the area year-to-date, while there were 479 actual sales through April, a difference of 0.10%.

Click here to view the entire monthly report.

The Wiregrass Residential Monthly Report is developed in conjunction with the Wiregrass Board of Realtors to better serve area consumers.

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, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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