According to the Morgan County Association of Realtors, January residential sales in the Decatur area (Morgan and Lawrence Counties) increased 13.9% year-over-year (Y/Y) from 72 to 82 closed transactions. Sales decreased 19.6% from December. 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 January increased 40.7% year-over-year from 231 to 325 listings. Months of supply rose from 3.2 in January 2023 to 4.0, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in January was $252,450, an increase of 12.0% from one year ago and an increase of 7.4% 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 24 days on the market (DOM), 12 days faster than January 2023.
Forecast: January sales were 5 units, or 6.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 87 sales for the month, while actual sales were 82 units.
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.
