According to the Tuscaloosa Association of Realtors, July home sales in the area decreased 7.1% year-over-year from 294 to 273 closed transactions. Sales decreased 1.8% from June. Two more resources to review: Quarterly Report and Annual Report.
For all Tuscaloosa-area housing data, click here.
Inventory: July listings (728) increased 2.7% from June and increased 9.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.7 months, up from 2.6 months in June, and up from 2.3 months in July 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 July was $269,000, a slight decrease of 0.3% from one year ago and a decrease of 3.8% from June. 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 July averaged 42 days on the market (DOM), 8 days slower than July 2024.
Forecast: July sales were 22 units, or 7.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 295 sales for the month, while actual sales were 273 units. ACRE forecasted a total of 1,793 home sales year-to-date, while there were 1,749 actual sales through July, a difference of 2.5%.
New Construction: The 58 new homes sold represented 21.2% of all residential sales in the area in July. Total sales increased 48.7% year-over-year. The median sales price was $279,900, a decrease of 2.4% from one year ago and a decrease of 1.4% from June.
Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors.
