According to the East Alabama Board of Realtors, January residential sales in the Phenix City area decreased 38.5% year-over-year from 91 to 56 closed transactions. Following seasonal trends, sales decreased 51.3% from December. Sales are down 38.5% year-to-date. Two more resources to review are the Quarterly Report and the Annual Report.
For all of East Alabama’s housing data, click here.
Inventory: Total homes listed for sale in January increased 75.1% year-over-year from 241 to 422 active listings. At the current sales pace, all the active inventory on the market would sell in 7.5 months, up from 2.8 in December and up from 2.6 months in January 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is six months of supply.
Pricing: The area’s median sales price in January was $252,650, a decrease of 0.9% from one year ago and down 4.7% from December. 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 January averaged 69 days on the market, 25 days slower than in January 2024.
Forecast: January sales were 30 units, or 35.810, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 86 sales for the month, while actual sales were 56 units. ACRE forecasts a total of 86 residential sales in the area year-to-date, while there were 56 actual sales through January, a difference of 35.10%.
Click here to view the entire monthly report.
The East Alabama Residential Monthly Report is developed in conjunction with the East Alabama Board of Realtors to better serve area consumers.
