According to the Shoals Area Association of Realtors, June residential sales increased 12.3% year-over-year from 179 to 201 closed transactions. Sales decreased 9.5% from May. Sales are up 14.4% 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: June listings (673) increased by 3.1% from May and 19.8% from one year ago. At the current sales pace, all the active inventory on the market would sell in 3.3 months, up from 2.9 months in May and up from 3.1 months in June 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 June was $252,500, an increase of 1.0% from one year ago and an increase of 12.2% from May. 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 June averaged 100 days on the market (DOM), 58 days slower than June 2024.
Forecast: June sales were 8 units, or 4.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 193 sales for the month, while actual sales were 201 units. ACRE forecasted a total of 996 home sales year-to-date, while there were 1,016 actual sales through June, a difference of 2.0%
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.
