According to the Wiregrass Board of Realtors, April residential sales decreased 20.7% year-over-year from 135 to 107 closed transactions. Contrary to seasonal trends, sales increased 3.9% from March. Sales are down 12.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: April listings (358) increased 0.6% from March and increased 37.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.3 months, down from 3.5 months in March and up from 1.9 months one year ago. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in April was $211,900, up 27.7% from one year ago, and a decrease of 7.2% 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 89 days on the market (DOM), 22 days slower than in April 2024.
Forecast: April sales were 5 units, or 4.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 112 residential sales for the month, and actual sales were 107 units sold.
New Construction: The 15 new homes sold represented 14.0% of all residential sales in the area in April. Total sales decreased 11.8% year-over-year. The median sales price was $330,000, a decrease of 11.2% from one year ago and an increase of 15.4% from March.
Click here to view the entire monthly report.
The Wiregrass Residential Monthly Report is developed in conjunction with the Wiregrass Board of Realtors to better serve area consumers.
