According to the Wiregrass Board of Realtors, October residential sales down 5.6% year-over-year with 85 closed transactions; sales decreased 8.6% from September. Sales are down 1.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: October listings (510) increased 9.7% from September and 18.9% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.0 months, up from 5.0 months in September, and up from 4.8 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 October was $230,000, an increase of 16.2% from one year ago, and a decrease of 6.1% 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 94 days on the market (DOM), 24 days slower than in October 2024.
Forecast: October sales were 23 units, or 21.63%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 108 residential sales for the month, and actual sales were 85 units sold.
New Construction: The 10 new homes sold represented 18.5% of all residential sales in the area in October. Total sales decreased by 5.6% year-over-year. The median sales price was $390,000, a decrease of 14.1% from September and an increase of 47.5% 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.
