ALABAMA REAL ESTATE JOURNAL

Morgan County home sales up 17% year-over-year in April

According to the Morgan County Association of Realtors, April residential sales in the Decatur area (Morgan and Lawrence Counties) increased 17.3% year-over-year from 127 to 149 closed transactions. Sales increased 30.7% from March. 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 April increased 49.1% year-over-year from 214 to 319 listings. Months of supply rose from 1.7 in April 2023 to 2.1 in April 2024, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $250,000, an increase of 8.7% from one year ago and an increase of 2.8% 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 40 days on the market (DOM), 7 days slower than April 2023.

Forecast: April sales were 23 units, or 18.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 126 sales for the month, while actual sales were 149 units. ACRE forecast a total of 428 home sales year-to-date, while there were 452 actual sales through April, a difference of 5.5%.

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.

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