According to the Shoals Area Association of Realtors, August residential sales increased 13.9% year-over-year from 194 to 221 closed transactions. Sales increased 24.2% from July. Sales are up 13.3% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: August listings (757) increased by 0.7% from July and 22.5% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.4 months, down from 4.2 months in July and up from 3.2 months in August 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in August was $269,900, an increase of 20.2% from one year ago and an increase of 1.5% from July. 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 August averaged 96 days on the market (DOM), 56 days slower than August 2024.
Forecast: August sales were 15 units, or 7.5%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 206 sales for the month, while actual sales were 221 units. ACRE forecasted a total of 1,389 home sales year-to-date, while there were 1,415 actual sales through August, a difference of 1.8%
Click here to view the entire monthly report.
The Shoals Area Residential Monthly Report is developed in conjunction with the Shoals Area Association of Realtors to better serve area consumers.
