According to the Shoals Area Association of Realtors, April residential sales increased 26.7% year-over-year from 150 to 190 closed transactions. Sales increased 21.0% from March. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: April listings (637) increased by 1.4% from March and increased 33.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, down from 4.0 months in March and up from 3.2 months in April 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 April was $220,205, down 7.9% from April 2024 and a decrease of 6.3% 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), 12 days slower than April 2024.
Forecast: April sales were 13 units, or 7.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 177 sales for the month, while actual sales were 190 units. ACRE forecasted a total of 612 home sales year-to-date, while there were 593 actual sales through April, a difference of 3.0%
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.
