The Latest Numbers From Our Local Market Are In

It’s time for us to take another look at what’s been going on in our market. 

I’ve got the latest numbers from June of this year, and things have definitely shifted since 2016. Between now and then, we’ve seen a rise in sales and home value both. Inventory, though, is remaining steady.

Our North Alabama residential sales this year total at 619 homes. This number shows a growth of approximately 5% compared to the same period last year. 

Final sale prices, too, have gone up. With the average sales price in 2017 at just over $231,000, we have seen a 7% increase since June of 2016. 

In turn, the average list price has gone up by 6% at $231,000—the same number as the average sales price. 

"...we are still in a seller’s market."

Finally, how long does it take for these sales to happen? This is the question that is on many people’s minds, and there is definitely some good news in this area. This year, the average days on market has decreased by 30%—down to 64 days. 

With five months of available inventory, we are still in a seller’s market. Buyer demand is outpacing supply, and it is ultimately a great time to get your home sold.

You can find a detailed breakdown of this market update here with this chart.

If you have any other questions or would like more information, feel free to give me a call or send me an email. I look forward to hearing from you soon.