According to the Morgan County Association of Realtors, February residential sales in the Decatur area (Morgan and Lawrence Counties) increased 3.9% year-over-year (Y/Y) from 103 to 107 closed transactions. Sales increased 30.5% from January. 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 February increased 39.8% year-over-year from 231 to 323 listings. Months of supply rose from 2.2 in February 2023 to 3.0 in February 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in February was $242,000, an increase of 1.0% from one year ago and a decrease of 4.1% from January. 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 February averaged 43 days on the market (DOM), 4 days slower than February 2023.
Forecast: February sales were 19 units, or 21.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 88 sales for the month, while actual sales were 107 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.
