According to the East Alabama Board of Realtors, November residential sales in the Phenix City area increased 3.9% year-over-year from 104 to 108 closed transactions. Following seasonal trends, sales decreased 5.3% from October. Sales are up 23.0% 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 November increased 92.1% year-over-year from 305 to 586 active listings. At the current sales pace, all the active inventory on the market would sell in 5.4 months, up from 5.0 months in October, and up from 2.9 months in November 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 November was $265,000, an increase of 0% from one year ago and a decrease of 4.3% from October. 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 November averaged 52 days on the market, 6 days slower than in November 2024.
Forecast: November sales matched the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 115 sales for the month, while actual sales were 108 units. ACRE forecasts a total of 1305 residential sales in the area year-to-date, while there were 1253 actual sales through November, a difference of 4.0%.
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.
