Alabama’s home sales and median sales price were in decline last month, according to new data from Alabama Realtors.
During September, the state recorded 5,340 home sales, a 10.6% drop from August and an 8.2% decline from September 2023. This occurred while the number of active listings – 18,819 – marked a 3.8% month-over-month increase and a 38.3% year-over-year spike.
The median sales price in Alabama was $224,812 during September, down by 4.6% month-over-month but up by 3.7% from the prior year. The sold volume was $1.28 billion, down 14.1% month-over-month and down 5.2% year-over-year.
The 435 foreclosures in September represented a 1.4% drop from the previous month and a 6% decrease from the previous year. from the previous month and a 6% year-over-year decrease.
“Historically, home sales in Alabama have fallen during the final months of the last three years,” said Evan Moore, economist at Alabama Realtors. “While home sales are likely to decline through the remainder of the year, evidence suggests the state’s housing market is and will remain healthy.”
“We believe the current trends of rising listings and increased inventory will create more opportunities for buyers,” added Jeremy Walker, CEO of Alabama Realtors. “As more homes become available, we may see prices ease in the coming months.”
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