Sales: According to the Shoals Area Association of Realtors, April residential sales increased 53.4% year-over-year from 178 to 273 closed transactions. Following seasonal trends, sales increased 14.7% from March. Sales are now up 25.8% 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 April declined 59.9% year-over-year from 598 to 240 listings. Months of supply declined from 3.4 to 0.9, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in April was $184,000, an increase of 22.9% from one year ago and an increase of 5.3% 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 37 days on the market (DOM), 36 days faster than April 2020.
Forecast: April sales were 62 units, or 29.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 211 sales for the month, while actual sales were 273 units. ACRE forecast a total of 836 sales in the area year-to-date, while there were 830 actual sales through April, a difference of 0.7%.
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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.
