What’s the Latest Word From Our North Alabama Market?

Home sales and home values are up in north Alabama, while the number of available homes on the market continues to shrink. If you’re a seller, now’s the time to act.

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What’s the latest news from the month of May in our north Alabama market? In comparing last year’s market stats to this year’s, we’re again seeing a rise in home sales and home values and a decrease in the number of homes being listed for sale.

The number of residential sales in north Alabama totaled to just over 665 homes, which represents a 15% increase compared to the same period last year. We also saw the average sale price increase almost 11% to roughly $221,000. The average list price also increased by almost 11% to roughly $225,000.

How long does it take to get these sales to actually happen? The average days on market decreased 18% to 75 days. We’re looking at less than four months of available inventory, which indicates that we’re still in a seller’s market. There are more buyers out there looking for homes than we have available inventory for say. I can’t stress enough that now is the time to sell.

For a more detailed breakdown of our May market numbers, I’ve included a chart below.

If you have any questions about our market or you’re thinking of buying or selling a home, please don’t hesitate to reach out to us. We’d be happy to assist you.

This Week’s Closings: