According to the Shoals Area Association of Realtors, February residential sales increased 6.3% year-over-year from 127 to 135 closed transactions. Sales increased 21.6% from January. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: February listings (658) decreased by 1.1% from January and increased 50.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.9 months, down from 6.0 months in January and up from 3.4 months in February 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 February was $260,000, up 30.0% from February 2024 and an increase of 13.0% from January. 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 February averaged 70 days on the market (DOM), 24 days slower than February 2024.
Forecast: February sales were 8 units, or 5.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 143 sales for the month, while actual sales were also 135 units. ACRE forecasted a total of 259 home sales year-to-date, while there were 246 actual sales through February, a difference of 5.1%
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.
