According to the East Alabama Board of Realtors, September residential sales in the Phenix City area increased 2.6% year-over-year from 117 to 120 closed transactions. Following seasonal trends, sales decreased 11.8% from August. Sales are up 3.4% 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 September increased 56.0% year-over-year from 371 to 579 active listings. At the current sales pace, all the active inventory on the market would sell in 4.8 months, up from 3.9 months in August, and up from 3.2 months in September 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 September was $258,700, a decrease of 4.2% from one year ago and a decrease of 6.0% from August. 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 September averaged 55 days on the market, 6 days slower than in September 2024.
Forecast: September sales matched the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 123 sales for the month, while actual sales were 120 units. ACRE forecasts a total of 1076 residential sales in the area year-to-date, while there were 1031 actual sales through September, a difference of 4.2%.
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.
