Sales: According to the Morgan County Association of Realtors, December residential sales in the Decatur area (Morgan and Lawrence Counties) decreased 28.6% year-over-year (Y/Y) from 161 to 115 closed transactions. Following seasonal trends, sales decreased 2.5% from November. Sales are now down 1.4% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Morgan County’s housing data, click here.
Inventory: Total homes listed for sale in December increased 68.5% year-over-year from 149 to 251 listings. Months of supply rose from 0.9 to 2.2, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in December was $220,000, a decrease of 4.4% from one year ago and a decrease of 4.2% 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 30 days on the market (DOM), 12 days slower than December 2021.
Forecast: December sales were 33 units, or 22.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 148 sales for the month, while actual sales were 115 units. ACRE forecast a total of 1,922 sales in the area year-to-date, while there were 1,782 actual sales through December, a difference of 7.3%.
Click here to view the entire monthly report.
The Morgan County (Decatur) Residential Monthly Report is developed in conjunction with the Morgan County Association of Realtors to better serve area consumers.