Shoals-area home prices on the rise in January

Sales: According to the Shoals Area Association of Realtors, January residential sales decreased 24.1% year-over-year from 141 to 107 closed transactions. Sales decreased 28.2% from December. Sales are down 24.1% 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 (353) decreased 9.5% from December and increased 80.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.3 months, up from 2.6 months in December and from 1.4 in January 2022. The equilibrium point where buyers and sellers have roughly equal bargaining power is 4-5 months of supply.

Pricing: The area’s median sales price in January was $205,250, an increase of 22.2% from one year ago and an increase of 0.1% 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 37 days on the market (DOM), 9 days slower than January 2022. 

Forecast: January sales were 17 units, or 13.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 124 sales for the month, while actual sales were 107 units. ACRE forecast a total of 124 sales in the area year-to-date, while there were 107 actual sales through January, a difference of 13.9%.   

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 to better serve area consumers.