According to the Montgomery Area Association of REALTORS, December home sales in the area increased 21.7% year-over-year from 322 to 392 closed transactions. Following seasonal trends, sales increased 18.1% from November. Two more resources to review: Quarterly Report and Annual Report.
For all Montgomery-area housing data, click here.
Inventory: Homes listed for sale decreased 6.1% from November and increased 27.8% year-over-year from 1,040 to 1,329 listings. Months of supply increased from 3.2 in December 2023 to 3.4 in December 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The median sales price in December was $244,500, an increase of 8.3% from one year ago and an increase of 0.6% from November. 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 December averaged 74 days on the market (DOM), 6 days faster than December 2023.
Forecast: December sales were 56 units, or 16.6%, above the Alabama Center for Real Estate (ACRE) monthly forecast. ACRE projected 336 sales for the month, while actual sales were 392 units. ACRE forecasted a total of 4,571 home sales year-to-date, while there were 4,561 actual sales through December, a difference of 0.2%.
New Construction: The 82 new homes sold represent 20.9% of all residential sales in the area in December. Total sales increased 15.5% year-over-year. The median sales price in December was $355,078, a decrease of 2.6% from one year ago and an increase of 2.4% from November
Click here to view the entire monthly report.
The Montgomery Residential Monthly Report is developed in connection with the Montgomery Area Association of Realtors.
