According to the Southeast Alabama Association of Realtors, January residential sales in the Dothan area increased 20.6% year-over-year from 97 to 117 closed transactions. Following seasonal trends, sales decreased 12.7% from December. Two more resources to review: Quarterly Report and Annual Report.
For all of the Dothan area’s housing data, click here.
Inventory: January listings (448) increased 1.4% from December and increased 33.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, up from 3.3 in December and up from 3.5 months in January 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The Dothan area median sales price in January was $175,500, a decrease of 12.3% from one year ago and a decrease of 14.2% 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 105 days on the market (DOM), 17 days slower than January 2023.
Forecast: January sales (117) were 5 units, or 4.5% below the Alabama Center for Real Estate’s (ACRE) monthly forecast (122).
Click here to view the entire monthly report.
The Southeast Alabama Residential Monthly Report is developed in conjunction with the Southeast Alabama Association of Realtors to better serve Dothan-area consumers.
