According to the East Alabama Board of Realtors, June residential sales in the Phenix City area increased 22.1% year-over-year from 113 to 138 closed transactions. Following seasonal trends, sales increased 12.2% from May. Sales are down 1.9% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of East Alabama’s housing data, click here.
Inventory: Total homes listed for sale in June increased 16.6% year-over-year from 434 to 506 active listings. At the current sales pace, all the active inventory on the market would sell in 3.7 months, up from 3.4 months in May and down from 3.8 months in June 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is six months of supply.
Pricing: The area’s median sales price in June was $288,550, an increase of 15.4% from one year ago and a decrease of 9.8% 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 43 days on the market, 6 days slower than in June 2024.
Forecast: June sales were in line with the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 138 sales for the month, while actual sales were 138 units. ACRE forecasts a total of 678 residential sales in the area year-to-date, while there were 626 actual sales through June, a difference of 7.7%.
Click here to view the entire monthly report.
The East Alabama Residential Monthly Report is developed in conjunction with the East Alabama Board of Realtors to better serve area consumers.
