ALABAMA REAL ESTATE JOURNAL

Morgan County home sales up 14% year-over-year in December

According to the Morgan County Association of Realtors, December residential sales in the Decatur area (Morgan and Lawrence Counties) increased 13.7% year-over-year (Y/Y) from 102 to 116 closed transactions. Sales decreased 2.5% from November. 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 December increased 32.4% year-over-year from 361 to 478 listings. Months of supply rose from 3.5 in December 2023 to 4.1 in December 2024, reflecting a market where sellers generally have elevated bargaining power. 

Pricing: The area’s median sales price in December was $240,000, an increase of 2.1% from one year ago and a decrease of 9.4% 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 64 days on the market (DOM), 31 days slower than December 2023.  

Forecast: December sales were 14 units, or 13.4%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 102 sales for the month, while actual sales were 116 units. ACRE forecasted a total of 1,441 home sales year-to-date, while there were 1,448 actual sales through December, a difference of 0.5%.       

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. 

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