Top 5 Most Improved Markets in December

Top 5 Most Improved Markets in December

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 December.

1.  Shoals Area - 29.4 percent

2.  Gadsden - 12.3 percent

3.  Athens - 8.3 percent

4.  Birmingham - 7.0 percent

5.  Dothan - 1.8 percent
 

Alabama - down 1.6 percent

United States - down 11.7 percent
 

Shoals Area: Total residential sales in the Florence-Muscle Shoals area increased 29.4 percent year-over-year (YOY) from 109 to 141 transactions. Year-to-date sales reached a total of 1,956 closed transactions, an increase of 13.5 percent from one year ago. The December median sales price increased 14.4 percent from $118,000 to $135,000. The year-to-date median sales price increased 5.9 percent from $130,121 to $137,801. Mirroring statewide and regional trends, inventory decreased 7.1 percent from 888 residential listings one year ago to 825 in December. Months of supply decreased from 8.1 to 6.2, while average days on market (DOM) improved from 89 to 80.  

Gadsden: Total residential sales in the Gadsden area increased 12.9 percent YOY from 62 to 70 transactions. Year-to-date sales reached a total of 834 closed transactions, an increase of 18.5 percent from one year ago. The December median sales price increased 0.4 percent from $134,500 to $135,000. The year-to-date median sales price increased 7.5 percent from $115,428 to $124,044. Mirroring statewide and regional trends but to a lesser degree, inventory decreased 1.7 percent from 471 residential listings one year ago to 463 in December. Months of supply decreased from 7.6 to 6.6, while average days on market (DOM) improved significantly from 141 to 103.

Athens: Total residential sales in the Athens area increased 8.3 percent YOY from 132 to 143 transactions. Year-to-date sales reached a total of 1,870 closed transactions, an increase of 10 percent from one year ago. The December median sales price decreased 2.9 percent from $218,925 to $212,520. The year-to-date median sales price, however, increased 10.3 percent from $187,459 to $206,855. Mirroring statewide and regional trends, inventory decreased 24 percent from 555 residential listings one year ago to 422 in December. Months of supply decreased from 4.2 to 3.0, while average days on market (DOM) improved from 61 to 43, making Athens the fastest selling market in the state during December.  

Birmingham: Total residential sales in the Birmingham area increased 7 percent YOY from 1,107 to 1,184 transactions. Year-to-date sales reached a total of 15,844 closed transactions, an increase of 12.5 percent from one year ago. The December median sales price decreased 3.8 percent from $195,000 to $187,525. The year-to-date median sales price increased 4.8 percent from $193,755 to $203,038. Mirroring statewide trends, inventory decreased 4.6 percent from 4,943 residential listings one year ago to 4,717 in December. Months of supply decreased from 4.5 to 4.0, while average days on market (DOM) improved from 63 to 54.

Dothan: Total residential sales in the Dothan area increased 1.8 percent YOY from 112 to 114 transactions. Year-to-date sales reached a total of 1,503 closed transactions, an increase of 9.2 percent from one year ago. The December median sales price decreased 3.2 percent from $139,950 to $135,450. The year-to-date median sales price increased 4.5 percent from $141,199 to $147,514. Mirroring statewide trends, inventory decreased 11 percent from 1,003 residential listings one year ago to 893 in December. Months of supply decreased from 9.0 to 7.8, while average days on market (DOM) improved from 156 to 141.  

REAL compliments of

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Transformational Leadership

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