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Alabama Home Sales and Prices in Decline

by | May 21, 2024 | 0 comments

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Home sales and prices in Alabama were in decline during April, according to new data from the Alabama Association of Realtors.

Last month, a total of 5,164 home sales were recorded in April, down 29.9% from the previous year but also up 3.8% from the previous month. The median sales price of $198,486 was down 2.2% from March and down 4.3% year-over-year.

The decline in sales and prices amid 15,072 active listings, up 37.2% from one year ago to reach the highest level in nearly four years.

“While it appears that lending rates will remain elevated, buyers have more affordable options in today’s housing market,” said Jeremy Walker, CEO of Alabama REALTORS. “April has been the state’s most encouraging month this year, and indicators point to further improvements throughout the summer.”

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