Wiregrass region home sales decrease 2% from one year ago

Sales: According to the Wiregrass Board of Realtors, December residential sales decreased 2.4% year-over-year from 126 to 123 closed transactions. Following seasonal trends, sales stayed the same from November. Sales are now up 12.2% 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 December declined 54.6% year-over-year from 264 to 120 listings. At the current sales pace, all the active inventory on the market would sell in 1.0 months, down from 1.2 months in November and down from 2.1 months in December 2020. 

Pricing: The area’s median sales price in December was $198,000, an increase of 28.9% from one year ago and an increase of 9.9% 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 53 days on the market (DOM), 36 days faster than December 2020.

Forecast: December sales were 2 units, or 1.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 125 residential sales for the month, and actual sales were 123 units sold. ACRE forecast a total of 1,547 sales in the area year-to-date, while there were 1,630 actual sales through December, a difference of 5.4%.

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 December 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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