According to the Shoals Area Association of Realtors, April residential sales increased 3.4% year-over-year from 145 to 150 closed transactions. Sales decreased 8.5% from March. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: April listings (479) increased 4.8% from March and increased 55.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.2 months, up from 2.8 months in March and up from 2.1 months in April 2023. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in April was $239,000, a decrease of 3.7% from one year ago and an increase of 11.2% from March. 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 April averaged 41 days on the market (DOM), 1 day faster than April 2023.
Forecast: April sales were 2 units, or 1.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 148 sales for the month, while actual sales were 150 units. ACRE forecasted a total of 580 home sales year-to-date, while there were 524 actual sales through April, a difference of 9.6%.
Click here to view the entire monthly report.
The Shoals Area Residential Monthly Report is developed in conjunction with the Shoals Area Association of Realtors to better serve area consumers.
