September home sales in the state increased 7.2% year-over-year from 4,772 to 5,113 closed transactions. Consistent with seasonal trends, sales decreased 5.8% from August. Sales have increased 2.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all statewide housing data, click here.
Inventory: September listings (21,540) decreased 6.7% from August and 0.5% from one year ago. Based on the current rate of sales, all active inventory on the market would sell in 4.2 months, down from 4.3 in August and up from 4.5 months in September 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The statewide median sales price in September was $282,876, an increase of 4.2% from August and 8.8% from one year ago. The differing sample size (number of residential sales in 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 73 days on the market, 14 days slower than one year ago.
Forecast: September sales were 37 units, or 0.7%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE forecast 5,150 sales for the month while actual sales were 5,113 units. ACRE projected a total of 47,287 home sales year-to-date, while there were 45,322 actual sales through September, a difference of 4.2%.
New Construction: The 867 new homes sold represented 17.0% of all residential sales in the state during September. Sales increased 6.9% from August but decreased 11.1% from September 2024. The median sales price was $322,340, an increase of 2.7% from August and 2.8% from one year ago.
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