According to the Shoals Area Association of Realtors, November residential sales decreased 21.5% year-over-year from 172 to 135 closed transactions. Sales also decreased 28.2% from October. Sales are up 8.9% 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: November listings (768) decreased by 2.8% from October and increased 7.7% from one year ago. At the current sales pace, all the active inventory on the market would sell in 5.7 months, up from 4.2 months in October and up from 4.1 months in November 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 November was $224,000, a decrease of 11.2% from one year ago and a decrease of 9.4% 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 110 days on the market (DOM), 64 days slower than November 2024.
Forecast: November sales were 26 units, or 16.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 161 sales for the month, while actual sales were 135 units. ACRE forecasted a total of 1,898 home sales year-to-date, while there were 1,918 actual sales through November, a difference of 1.03%.
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.
