According to the Shoals Area Association of Realtors, January residential sales increased 33.7% year-over-year from 83 to 111 closed transactions. Sales decreased 27.5% from December. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: January listings (665) remained constant from December and increased 71.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.0 months, up from 4.3 months in December and up from 4.7 months in January 2024. 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 January was $230,000, consistent with January 2024 and an increase of 4.6% 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 54 days on the market (DOM), 11 days slower than January 2024.
Forecast: January sales were 5 units, or 4.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 116 sales for the month, while actual sales were also 111 units.
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.
