Top 5 Most Improved Markets in November

Top 5 Most Improved Markets in November

Topics: Research, Residential Real Estate, Research

Markets: Athens (Limestone County), Baldwin County - All, Baldwin County - Condo Only, Birmingham Metro, Calhoun County, Cherokee County

The Alabama Center for Real Estate created the following rankings based on year-over-year (YOY) growth in total residential sales during November.

  1. Marshall County - 34.5 percent

  2. Decatur - 27.9 percent

  3. Lake Martin Area - 18.6 percent

  4. Wiregrass Region - 17.6 percent

  5. Huntsville - 14.8 percent

 

Marshall County: Total residential sales in Marshall County increased 34.5 percent year-over-year (YOY) from 58 to 78 transactions. Year-to-date sales reached a total of 856 closed transactions, an increase of 6.1 percent from one year ago. The November median sales price increased 3 percent from $134,500 to $138,500. The year-to-date median sales price increased 5.7 percent from $126,341 to $133,541. Mirroring statewide trends but to a greater degree, inventory decreased 28.2 percent from 447 residential listings one year ago to 321 in November. Months of supply decreased from 7.7 to 4.1, while average days on market (DOM) dropped significantly from 126 to 76.  

 

Decatur: Total residential sales in the Decatur area increased 27.9 percent YOY from 86 to 110 transactions. Year-to-date sales reached a total of 1,535 closed transactions, an increase of 12.7 percent from one year ago. The November median sales price decreased 0.3 percent from $145,950 to $145,500. The year-to-date median sales price, however, increased 12.9 percent from $125,464 to $141,705. Mirroring statewide and regional trends, inventory decreased 31.4 percent from 636 residential listings one year ago to 436 in November. Months of supply decreased from 7.4 to 4.0, while average days on market (DOM) decreased from 72 to 63.

 

Lake Martin Area: Total residential sales in the Lake Martin area increased 18.6 percent YOY from 43 to 51 transactions. Year-to-date sales reached a total of 637 closed transactions, an increase of 3.9 percent from one year ago. The November median sales price decreased 37.8 percent from $241,000 to $150,000. The year-to-date median sales price decreased 13.9 percent from $260,945 to $224,677. Going against statewide trends, inventory increased 29.8 percent from 349 residential listings one year ago to 453 in November. Months of supply increased from 8.1 to 8.9, while average days on market (DOM) dropped from 166 to 119.

 

Wiregrass Region: Total residential sales in the Wiregrass region increased 17.6 percent YOY from 68 to 80 transactions. Year-to-date sales reached a total of 1,036 closed transactions, an increase of 7.4 percent from one year ago. The November median sales price increased 15.3 percent from $118,000 to $136,000. The year-to-date median sales price increased 5.6 percent from $128,086 to $135,318. Mirroring statewide trends, inventory decreased 8.1 percent from 690 residential listings one year ago to 634 in November. Months of supply decreased from 10.1 to 7.9, while average days on market (DOM) decreased from 122 to 101.


Huntsville: Total residential sales in the Huntsville area increased 14.8 percent YOY from 514 to 590 transactions. Year-to-date sales reached a total of 7,098 closed transactions, an increase of 10.4 percent from one year ago. The November median sales price increased 18 percent from $183,872 to $217,000. The year-to-date median sales price increased 8.5 percent from $187,707 to $203,674. Mirroring statewide and regional trends, inventory decreased 24.3 percent from 2,049 residential listings one year ago to 1,552 in November. Months of supply decreased from 4.0 to 2.6, while average days on market (DOM) dropped from 68 to 45.

 

REAL compliments of

ACRE Alabama Cabinet
Transformational Leadership

Featured Member

Bradley Arant Boult & Cummings LLP
Culverhouse

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