According to the Wiregrass Board of Realtors, July residential sales increased 6.3% year-over-year from 127 to 135 closed transactions, sales increased 22.7% from June. Sales are down 3.7% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Wiregrass’s housing data, click here.
Inventory: July listings (398) increased 1.0% from June and 15.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 2.9 months, down from 3.6 months in June, and up from 2.7 months one year ago. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The area’s median sales price in July was $238,000, a slight decrease of 0.4% from one year ago, and a decrease of 4.8% from June. 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 July averaged 64 days on the market (DOM), 6 days slower than in July 2024.
Forecast: July sales were 11 units, or 9.2%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 124 residential sales for the month, and actual sales were 135 units sold.
New Construction: The 17 new homes sold represented 12.6% of all residential sales in the area in July. Total sales increased by 112.5% year-over-year. The median sales price was $365,000, an increase of 28.0% from June.
Click here to view the entire monthly report.
The Wiregrass Residential Monthly Report is developed in conjunction with the Wiregrass Board of Realtors to better serve area consumers.
