According to the Southeast Alabama Association of Realtors, April residential sales in the Dothan area increased 5.3% year-over-year from 169 to 178 closed transactions. Sales increased 17.9% from March. Sales are down 5.0% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Dothan area’s housing data, click here.
Inventory: April listings (612) increased 2.7% from March and increased 41.3% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, down from 3.9 in March and up from 2.6 months in April 2024. The equilibrium points where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The Dothan area median sales price in April was $250,777, an increase of 4.5% from one year ago and a decrease of 10.6% 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 101 days on the market (DOM), 6 days slower than April 2024.
Forecast: April sales (178) were 7 units, or 4.1% above the Alabama Center for Real Estate’s (ACRE) monthly forecast (171). ACRE forecasted a total of 568 home sales year-to-date, while there were 552 actual sales through April, a difference of 2.9%
Click here to view the entire monthly report.
The Southeast Alabama Residential Monthly Report is developed in conjunction with the Southeast Alabama Association of Realtors to better serve Dothan-area consumers.
