Sales: According to the Shoals Area Association of Realtors, January residential sales increased 12.8% year-over-year from 125 to 141 closed transactions. Following seasonal trends, sales decreased 32.5% from December. Sales are now up 12.8% 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: January listings (196) declined 20.3% from December and 33.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.4 months, up from 1.2 month in December and the same as January 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 January was $168,000, an increase of 12.0% from one year ago and a decrease of 1.2% from December. 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 January averaged 28 days on the market (DOM), 19 days faster than January 2021.
Forecast: January sales were 2 units, or 1.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 143 sales for the month, while actual sales were 141 units. ACRE forecast a total of 143 sales in the area year-to-date, while there were 1.40 actual sales through January, a difference of 1.4%.
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 January 1 – 31, 2022. Thus, the performance represented is historical and should not be used as an indicator of future results.
