June home sales in the state increased 2.8% year-over-year from 5,405 to 5,554 closed transactions. Going against seasonal trends, sales decreased 7.0% from May. Sales are up 2.0% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all statewide housing data, click here.
Inventory: June listings (21,733) increased 2.2% from May and 11.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.9 months, up from 3.6 months in May and up from 3.6 months in June 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 June was $271,945, an increase of 0.1% from May and 5.7% from one year ago. The differing sample size (number of residential sales in 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 June averaged 63 days on the market, 10 days slower than one year ago.
Forecast: June sales were 635 units, or 10.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 6,189 sales for the month while actual sales were 5,554 units. ACRE forecast a total of 30,229 home sales year-to-date, while there were 29,175 actual sales through June, a difference of 3.5%.
New Construction: The 803 new homes sold represented 14.5% of all residential sales in the state during June. Sales decreased 15.5% from May and 18.5% from June 2024. The median sales price was $308,243, a decrease of 2.7% from May and 1.7% from one year ago.
Click here to view the entire monthly report.
