According to the Morgan County Association of Realtors, February residential sales in the Decatur area (Morgan and Lawrence Counties) decreased 23.4% year-over-year (Y/Y) from 107 to 82 closed transactions. Sales decreased 31.1% from January. 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 February increased 55.4% year-over-year from 323 to 502 listings. Months of supply rose from 3.0 in February 2024 to 6.1 in February 2024, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in February was $246,500, an increase of 1.9% from one year ago and a decrease of 7.0% from January. 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 February averaged 61 days on the market (DOM), 18 days slower than February 2024.
Forecast: February sales were 9 units, or 10.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 91 sales for the month, while actual sales were 82 units.
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.
