According to the Morgan County Association of Realtors, September residential sales in the Decatur area (Morgan and Lawrence Counties) decreased 33.3% year-over-year (Y/Y) from 153 to 102 closed transactions. Sales decreased 19.0% from August. Sales are now down 26.9% 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 September increased 13.3% year-over-year from 301 to 341 listings. Months of supply rose from 2.0 in September 2022 to 3.3, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in September was $257,450, an increase of 12.0% from one year ago and remaining constant from August. 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 September averaged 22 days on the market (DOM), 0 days slower than September 2022.
Forecast: September sales were 36 units, or 26.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 138 sales for the month, while actual sales were 102 units. ACRE forecasted a total of 1,240 sales in the area year-to-date, while there were 1,042 actual sales through September, a difference of 16.0%.
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.
