According to the Tuscaloosa Association of Realtors, April home sales in the area increased 14.5% year-over-year from 249 to 285 closed transactions. Sales increased 23.9% from March. Two more resources to review: Quarterly Report and Annual Report.
For all Tuscaloosa-area housing data, click here.
Inventory: April listings (699) were up 3.1% from March and increased 20.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.5 months, down from 2.9 months in March, and up from 2.3 months in April 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in April was $274,900, an increase of 5.8% from one year ago and a decrease of 1.0% from March. 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 53 days on the market (DOM), 11 days slower than April 2024.
Forecast: April sales were 28 units, or 10.9%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 257 sales for the month, while actual sales were 285 units. ACRE forecasted a total of 893 home sales year-to-date, while there were 902 actual sales through April, a difference of 1.0%.
New Construction: The 54 new homes sold represented 18.9% of all residential sales in the area in April. Total sales increased 54.3% year-over-year. The median sales price was $287,400, an increase of 2.6% from one year ago and a decrease of 10.2% from March.
Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors.
