According to the Wiregrass Board of Realtors, November residential sales down 12.0% year-over-year with 81 closed transactions; sales decreased 4.7% from October. Sales are up 4.1% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: November listings (511) increased 0.2% from October and 21.4% from one year ago. At the current sales pace, all the active inventory on the market would sell in 6.3 months, up from 6.0 months in October, and up from 4.6 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 November was $240,000, an increase of 15.7% from one year ago, and an increase of 4.4% 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 84 days on the market (DOM), 18 days slower than in November 2024.
Forecast: November sales were 14 units, or 14.65%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 95 residential sales for the month, and actual sales were 81 units sold.
New Construction: The 11 new homes sold represented 13.6% of all residential sales in the area in November. Total sales decreased by 45.0% year-over-year. The median sales price was $389,000, a decrease of 0.3% from October and an increase of 39.2% 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.
