According to the Tuscaloosa Association of Realtors, November home sales in the area were down 10.7% year-over-year at 176 closed transactions. Sales decreased 10.7% from October. Two more resources to review: Quarterly Report and Annual Report.
For all Tuscaloosa-area housing data, click here.
Inventory: November listings (176) decreased 9.3% from October and increased 15.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.5 months, up from 4.4 months in October, and up from 3.5 months in November 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in November was $306,150, an increase of 11.4% from one year ago and an increase of 5.6% 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 (DOM), 8 days slower than November 2024.
Forecast: November sales were 34 units, or 16.13%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 210 sales for the month, while actual sales were 176 units. ACRE forecasted a total of 2,755 home sales year-to-date, while there were 2,634 actual sales through November, a difference of 4.38%.
New Construction: The 42 new homes sold represented 23.9% of all residential sales in the area in November. Total sales increased 100.0% year-over-year. The median sales price was $323,650, a decrease of 4.4% from one year ago and an increase of 2.8% from October.
Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors.
