Home sales across Alabama slumped in October, falling 4.7% from the previous month and slipping by 1.7% from one year earlier.
A total of 5,773 sales were transacted last month, according to the Alabama Association of Realtors. The 20,866 active monthly listings at the end of October were 8% higher than one year earlier, while homes remained on the market just two days longer than in September but five days longer than in October 2024.
The state’s median sales price was $253,201, up by 7.6% from September and by 19.7% from October 2024. The sold dollar volume in October $1.65 billion, a 2.9% decline from the prior month but a 21.3% spike from one year earlier.
“Consumer sentiment continued to decline in October, and there is some evidence of softening in the labor market both in-state and nationally,” said Evan Moore, the association’s chief economist. “At the same time, relatively strong home price appreciation across Alabama suggests good value in the state’s housing market, and listings increased to a new high last month with almost five months of supply, which is a traditional sign of a healthy and balanced market.”
Photo: Andrew S. / Flickr Creative Commons
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