According to the Shoals Area Association of Realtors, May residential sales increased 20.0% year-over-year from 185 to 222 closed transactions. Sales increased 16.8% from April. Sales are up 15.0% 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: May listings (653) increased by 2.5% from April and 24.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, down from 3.4 months in April and up from 2.8 months in May 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 May was $225,000, a decrease of 4.3% from one year ago and an increase of 2.2% from April. 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 May averaged 65 days on the market (DOM), 25 days slower than May 2024.
Forecast: May sales were 31 units, or 16.0%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 191 sales for the month, while actual sales were 222 units. ACRE forecasted a total of 803 home sales year-to-date, while there were 815 actual sales through May, a difference of 1.5%
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.
