According to the Shoals Area Association of Realtors, December residential sales increased 34.2% year-over-year from 114 to 153 closed transactions. Sales decreased 11.0% from November. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: December listings (665) decreased 6.7% from November and increased 61.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.3 months, up from 4.1 months in November and up from 3.6 months in December 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 December was $219,900, an increase of 6.0% from one year ago and a decrease of 12.8% 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 48 days on the market (DOM), 6 days slower than December 2023.
Forecast: December sales were 32 units, or 26.1%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 121 sales for the month, while actual sales were also 153 units. ACRE forecasted a total of 1,862 home sales year-to-date, while there were 1,914 actual sales through December, a difference of 2.8%.
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.