Sales: According to the Shoals Area Association of Realtors, December residential sales increased 7.73% year-over-year from 194 to 209 closed transactions. Following seasonal trends, sales increased 2.96% from November. Sales are now up 5.6% 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: December listings (246) declined 17.2% from November and 11.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.2 months, down from 1.5 month in November and up from 1.4 months in December 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in December was $170,100, an increase of 3.8% from one year ago and a decrease of 10.28% 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 42 days on the market (DOM), 5 days faster than December 2020.
Forecast: December sales were 15 units, or 6.52%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 224 sales for the month, while actual sales were 209 units. ACRE forecast a total of 2787 sales in the area year-to-date, while there were 2644 actual sales through December, a difference of 5.15%.
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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.
