According to the Shoals Area Association of Realtors, October residential sales increased 4.0% year-over-year from 173 to 180 closed transactions. Sales decreased 18.6% from September. Sales are up 12.2% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: October listings (755) decreased by 0.3% from September and 10.2% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.2 months, up from 3.4 months in September and up from 4.0 months in October 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in October was $266,600, an increase of 7.9% from one year ago and a decrease of 1.4% 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 47 days on the market (DOM), 10 days faster than October 2024.
Forecast: October sales were 16 units, or 9.6%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 172 sales for the month, while actual sales were 188 units. ACRE forecasted a total of 1,737 home sales year-to-date, while there were 1,783 actual sales through October, a difference of 2.64%.
Click here to view the entire monthly report.
The Shoals Area Residential Monthly Report is developed in conjunction with the Shoals Area Association of Realtors to better serve area consumers.
