According to the Tuscaloosa Association of Realtors, October home sales in the area were down year-over-year at 197 closed transactions. Sales decreased 6.6% from September. Two more resources to review: Quarterly Report and Annual Report.
For all Tuscaloosa-area housing data, click here.
Inventory: October listings (197) decreased 21.8% from September and decreased 6.6% from one year ago. At the current sales pace, all the active inventory on the market would sell in 4.4 months, up from 3.4 months in September, and up from 3.3 months in October 2024. The equilibrium point where buyers and sellers have roughly equal bargaining power is roughly 6 months of supply.
Pricing: The median sales price in October was $289,900, an increase of 7.4% from one year ago and an increase of 1.6% from September. 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 October averaged 39 days on the market (DOM), 2 days faster than October 2024.
Forecast: October sales were 30 units, or 13.14%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 227 sales for the month, while actual sales were 197 units. ACRE forecasted a total of 2,545 home sales year-to-date, while there were 2,458 actual sales through October, a difference of 3.41%.
New Construction: The 34 new homes sold represented 17.3% of all residential sales in the area in October. Total sales decreased 2.9% year-over-year. The median sales price was $314,825, an increase of 14.5% from one year ago and an increase of 6.9% from September.
Click here to view the entire monthly report. The Tuscaloosa Residential Monthly Report is developed in connection with the Tuscaloosa Association of Realtors.
