According to the Wiregrass Board of Realtors, June residential sales increased 1.9% year-over-year from 108 to 110 closed transactions, sales decreased 20.3% from May. Sales are down 5.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: June listings (394) increased 7.4% from May and 26.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.6 months, up from 2.7 months in May and up from 2.9 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 June was $249,900, a 4.1% increase from one year ago, and an increase of 14.4% 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 82 days on the market (DOM), 21 days slower than in June 2024.
Forecast: June sales were 15 units, or 12.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 125 residential sales for the month, and actual sales were 110 units sold.
New Construction: The 20 new homes sold represented 18.2% of all residential sales in the area in June. Total sales increased by 42.9% year-over-year. The median sales price was $285,488, a decrease of 16.0% from one year ago and a decrease of 24.6% from May.
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.
