According to the Wiregrass Board of Realtors, September residential sales remained unchanged year-over-year with 93 closed transactions; sales decreased 17.7% from August. Sales are down 0.6% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: September listings (465) increased 10.2% from August and 16.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.0 months, up from 3.7 months in August, and up from 4.3 months one year ago. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in September was $245,000, an increase of 8.9% from one year ago, and an increase of 11.4% 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 75 days on the market (DOM), 13 days slower than in September 2024.
Forecast: September sales were 23 units, or 20.1%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 116 residential sales for the month, and actual sales were 93 units sold.
New Construction: The 10 new homes sold represented 10.8% of all residential sales in the area in September. Total sales decreased by 9.1% year-over-year. The median sales price was $453,963, an increase of 43.4% from August and an increase of 25.4% year-over-year.
Click here to view the entire monthly report.
The Wiregrass Residential Monthly Report is developed in conjunction with the Wiregrass Board of Realtors to better serve area consumers.
