According to the Wiregrass Board of Realtors, January residential sales increased 7.6% year-over-year from 66 to 71 closed transactions. Following seasonal trends, sales decreased 33.0% from December. Sales are up 7.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: January listings (383) decreased 4.3% from December and increased 46.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.4 months, up from 3.8 months in December and up from 4.0 months one year ago. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in January was $212,000, up 3.7% from one year ago, and a decrease of 6.8% 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 87 days on the market (DOM), 30 days slower than in January 2024.
Forecast: January sales were 16 units, or 18.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 87 residential sales for the month, and actual sales were 71 units sold.
New Construction: The 13 new homes sold represented 18.3% of all residential sales in the area in January. Total sales increased 18.2% year-over-year. The median sales price was $279,900, a decrease of 20.0% from one year ago and an increase of 0.2% from December.
Click here to view the entire monthly report.
The Wiregrass Residential Monthly Report is developed in conjunction with the Wiregrass Board of Realtors to better serve area consumers.
