According to the Shoals Area Association of Realtors, June residential sales decreased 1.6% year-over-year from 182 to 179 closed transactions. Sales decreased 3.2% from May. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: June listings (562) increased 7.3% from May and increased 71.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.1 months, up from 2.8 months in May and up from 1.8 months in June 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 June was $249,900, an increase of 11.5% from one year ago and an increase of 6.3% 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 42 days on the market (DOM), 8 days slower than June 2023.
Forecast: June sales were equivalent to the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 179 sales for the month, while actual sales were also 179 units. ACRE forecasted a total of 926 home sales year-to-date, while there were 888 actual sales through June, a difference of 4.2%.
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.
