According to the Shoals Area Association of Realtors, September residential sales increased 5.5% year-over-year from 164 to 173 closed transactions. Sales decreased 10.8% from August. Two more resources to review: Quarterly Report and Annual Report.
For all of the Shoals Area’s housing data, click here.
Inventory: September listings (685) increased 10.8% from August and increased 85.1% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.0 months, up from 3.2 months in August and up from 2.3 months in September 2023. 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 September was $246,600, an increase of 9.0% from one year ago and an increase of 9.8% from August. 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 September averaged 57 days on the market (DOM), 32 days slower than September 2023.
Forecast: September sales were 17 units, or 10.8%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 156 sales for the month, while actual sales were also 173 units. ACRE forecasted a total of 1,469 home sales year-to-date, while there were 1,422 actual sales through September, a difference of 3.2%.
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
