Morgan County home sales down 17% year-over-year in October

According to the Morgan County Association of Realtors, October residential sales in the Decatur area (Morgan and Lawrence Counties) decreased 17.1% year-over-year (Y/Y) from 123 to 102 closed transactions. Sales remained constant from September. Sales are now down 26.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.  

For all of Morgan County’s housing data, click here.

Total homes listed for sale in October increased 14.7% year-over-year from 292 to 335 listings. Months of supply rose from 2.4 in October 2022 to 3.3, reflecting a market where sellers generally have elevated bargaining power.

The area’s median sales price in October was $233,950, an increase of 4.0% from one year ago a decrease of 9.1% from September. 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 October averaged 28 days on the market (DOM), 5 days slower than October 2022. 

October sales were 30 units, or 22.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 132 sales for the month, while actual sales were 102 units. ACRE forecasted a total of 1,371 sales in the area year-to-date, while there were 1,144 actual sales through October, a difference of 16.6%.  

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.