ALABAMA REAL ESTATE JOURNAL

Wiregrass region home sales experience continual growth in June

Sales: According to the Wiregrass Board of Realtors, June residential sales increased 8.3% year-over-year from 144 to 156 closed transactions. Sales also increased 9.9% from May. Sales are now up 18.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

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

Inventory: June listings (167) increased 12.1% from May and declined 43.6% from one year ago. Months of supply (inventory to sales ratio) also decreased from 2.1 to 1.1, reflecting a market where seller’s generally have elevated bargaining power.

Pricing: The area’s median sales price in June was $184,750, an increase of 11.3% from one year ago and a decrease of 1.8% from May. 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 June averaged 51 days on the market (DOM), 25 days faster than June 2020.

Forecast: June sales were 15 units, or 10.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 141 residential sales for the month, and actual sales were 156 units sold. ACRE forecast a total of 764 sales in the area year-to-date, while there were 777 actual sales through June, a difference of 1.7%.

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 June 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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