According to the Morgan County Association of Realtors, August residential sales in the Decatur area (Morgan and Lawrence Counties) increased 19.8% year-over-year (Y/Y) from 126 to 151 closed transactions. Sales increased 29.1% from July. Two more resources to review: Quarterly Report and Annual Report.
For all of Morgan County’s housing data, click here.
Inventory: Total homes listed for sale in August increased 49.5% year-over-year from 311 to 465 listings. Months of supply rose from 2.5 in August 2023 to 3.1 in August 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in August was $259,900, an increase of 0.9% from one year ago and an increase of 4.0% from July. 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 August averaged 40 days on the market (DOM), 12 days slower than August 2023.
Forecast: August sales were 3 units, or 2.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 148 sales for the month, while actual sales were 151 units. ACRE forecast a total of 1,005 home sales year-to-date, while there were 978 actual sales through August, a difference of 2.7%.
Click here to view the entire monthly report.
The Morgan County (Decatur) Residential Monthly Report is developed in conjunction with the Morgan County Association of Realtors to better serve area consumers.
