ALABAMA REAL ESTATE JOURNAL

Tuscaloosa area home sales up 8% year-over-year in June

According to the Tuscaloosa Association of Realtors, June home sales in the area increased 7.8% year-over-year from 258 to 278 closed transactions. Sales decreased 6.1% from May. Two more resources to review: Quarterly Report and Annual Report. 

For all Tuscaloosa-area housing data, click here. 

Inventory: June listings (709) were up 4.1% from May and increased 15.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.6 months, up from 2.3 months in May, and up from 2.4 months in June 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 June was $279,700, an increase of 11.9% from one year ago and a decrease of 2.7% from May. 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 June averaged 42 days on the market (DOM), 1 day faster than June 2024. 

Forecast: June sales were 37 units, or 11.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 315 sales for the month, while actual sales were 278 units. ACRE forecasted a total of 1,499 home sales year-to-date, while there were 1,476 actual sales through June, a difference of 1.5%. 

New Construction: The 57 new homes sold represented 20.5% of all residential sales in the area in June. Total sales increased 29.5% year-over-year. The median sales price was $284,000, an increase of 11.6% from one year ago and a decrease of 13.3% from May. 

Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors. 

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