April home sales in the state increased 3.8% year-over-year from 5,174 to 5,370 closed transactions. Following seasonal trends, sales increased 9.9% from March. Sales are up 1.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all statewide housing data, click here.
Inventory: April listings (20,399) increased 1.9% from March and increased 14.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.8 months, down from 4.1 months in March and up from 3.4 months in April 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The statewide median sales price in April was $264,351, a decrease of 2.2% from March and a decrease of 1.7% from one year ago. 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 April averaged 75 days on the market, 17 days slower than one year ago.
Forecast: April sales were 31 units, or 0.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 5,339 sales for the month while actual sales were 5,370 units. ACRE forecast a total of 18,269 home sales year-to-date, while there were 17,652 actual sales through April, a difference of 3.4%.
New Construction: The 813 new homes sold represented 15.1% of all residential sales in the state during April. Sales increased 0.2% from March and increased 1.4% from April 2024. The median sales price was $315,325, an increase of 0.7% from March but a decrease of 8.0% from one year ago.
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