Sales: According to the Wiregrass Board of Realtors, November residential sales increased 11.8% year-over-year from 110 to 123 closed transactions. Following seasonal trends, sales decreased 1.6% from October. Sales are now up 13.6% 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 November declined 44% year-over-year from 273 to 153 listings. At the current sales pace, all the active inventory on the market would sell in 1.2 months, down from 1.4 months in October and down from 2.5 months in November 2020.
Pricing: The area’s median sales price in November was $181,000, an increase of 12.8% from one year ago and an increase of 1.1% from October. 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 November averaged 57 days on the market (DOM), 11 days faster than November 2020.
Forecast: November sales were 3 units, or 2.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 120 residential sales for the month, and actual sales were 123 units sold. ACRE forecast a total of 1,422 sales in the area year-to-date, while there were 1,507 actual sales through November, a difference of 6%.
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 November 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.