According to the Morgan County Association of Realtors, October residential sales in the Decatur area (Morgan and Lawrence Counties) increased 27.5% year-over-year (Y/Y) from 102 to 130 closed transactions. Sales increased 9.2% from September. 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 October increased 45.7% year-over-year from 335 to 488 listings. Months of supply rose from 3.3 in October 2023 to 3.8 in October 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in October was $237,500, an increase of 1.5% from one year ago and a decrease of 10.4% from September. 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 October averaged 34 days on the market (DOM), 6 days slower than October 2023.
Forecast: October sales were 15 units, or 12.9%, above. the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 115 sales for the month, while actual sales were 130 units. ACRE forecasted a total of 1,248 home sales year-to-date, while there were 1,227 actual sales through October, a difference of 1.7%.
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.
