According to the Tuscaloosa Association of Realtors, August home sales in the area increased 4.4% year-over-year from 249 to 260 closed transactions. Sales decreased 4.8% from July. Two more resources to review: Quarterly Report and Annual Report.
For all Tuscaloosa-area housing data, click here.
Inventory: August listings (728) increased 0.0% from July and increased 12.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.8 months, up from 2.7 months in July, and up from 2.6 months in August 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 August was $289,000, an increase of 7.4% from one year ago and an increase of 7.8% 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 48 days on the market (DOM), 4 days slower than August 2024.
Forecast: August sales were 24 units, or 8.5%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 284 sales for the month, while actual sales were 260 units. ACRE forecasted a total of 2,078 home sales year-to-date, while there were 2,009 actual sales through August, a difference of 3.3%.
New Construction: The 52 new homes sold represented 20.0% of all residential sales in the area in August. Total sales increased 30.0% year-over-year. The median sales price was $314,200, an increase of 2.2% from one year ago and an increase of 12.3% from July.
Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors.
