Tuscaloosa-area home sales slow in December

Sales: According to the Tuscaloosa Association of Realtors, December home sales in the area decreased 8.4% year-over-year (Y/Y) from 310 to 284 closed transactions. Following seasonal trends, sales increased 8.8% from November. Sales are up 10.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all Tuscaloosa-area housing data, click here.

Inventory: December listings (394) decreased 7.3% from November and declined 27.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.4 months, down from 1.6 in November and down from 1.8 months in December 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.

Pricing: The median sales price in December was $234,450, an increase of 11.7% from one year ago and an increase of 2.0% 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 35 days on the market (DOM), 8 days faster than December 2020. 

Forecast: December sales were 8 units, or 2.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 276 sales for the month, while actual sales were 284 units. ACRE forecast a total of 3,481 residential sales year-to-date, while there were 3,593 actual sales through December, a difference of 3.2%. 

The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa 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, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.