According to the East Alabama Board of Realtors, October residential sales in the Phenix City area increased 15.2% year-over-year from 99 to 114 closed transactions. Following seasonal trends, sales decreased 5.0% from September. Sales are up 13.9% 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 October increased 55.7% year-over-year from 366 to 570 active listings. At the current sales pace, all the active inventory on the market would sell in 5.0 months, up from 4.8 months in September, and up from 3.7 months in October 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 October was $277,000, an increase of 13.1% from one year ago and an increase of 7.1% from September. 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 October averaged 67 days on the market, 17 days slower than in October 2024.
Forecast: October sales matched the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 114 sales for the month, while actual sales were 114 units. ACRE forecasts a total of 1190 residential sales in the area year-to-date, while there were 1145 actual sales through October, a difference of 3.8%.
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.
