According to the Morgan County Association of Realtors, September residential sales in the Decatur area (Morgan and Lawrence Counties) increased 16.7% year-over-year (Y/Y) from 102 to 119 closed transactions. Sales decreased 21.2% from August. 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 September increased 42.5% year-over-year from 341 to 486 listings. Months of supply rose from 3.3 in September 2023 to 4.1 in September 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in September was $265,000, an increase of 2.9% from one year ago and an increase of 2.0% from August. 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 September averaged 44 days on the market (DOM), 22 days slower than September 2023.
Forecast: September sales were 8 units, or 6.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 127 sales for the month, while actual sales were 119 units. ACRE forecast a total of 1,133 home sales year-to-date, while there were 1,097 actual sales through September, a difference of 3.1%.
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.
