According to the Morgan County Association of Realtors, June residential sales in the Decatur area (Morgan and Lawrence Counties) decreased 14.8% year-over-year (Y/Y) from 135 to 115 closed transactions. Sales decreased 19.6% from May. 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 June increased 72.3% year-over-year from 224 to 386 listings. Months of supply rose from 1.7 in June 2023 to 3.4 in June 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in June was $252,900, a decrease of 4.4% from one year ago and an increase of 1.2% from May. 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 June averaged 25 days on the market (DOM), 9 days slower than June 2023.
Forecast: June sales were 37 units, or 24.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 152 sales for the month, while actual sales were 115 units. ACRE forecast a total of 721 home sales year-to-date, while there were 710 actual sales through June, a difference of 1.5%.
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.
