Alabama recorded its sixth consecutive month of rising home sales in July, according to the Alabama Association of Realtors (AAR).
Last month, the state recorded 6,136 home sales, up 13.1% from June and up 0.9% increase from July 2023. This also marked the first month of year-over-year sales increase since January 2022.
Also on the rise was the median sales price – $233,216, a 1.9% month-over-month rise and a 2.3% year-over-year hike. July’s median sales price was the highest price point since August 2022. Sales volume in July reached $1.51 billion, up 15.3% from the previous month and 8.6% from July 2023, making it the highest sales volume for the year to date.
Another increase was recorded in active listings – a total of 17,368, a 41.7% spike from one year ago.
“The consistent growth over the past six months shows that demand for homes in our state remains strong and Alabama’s economy remains robust,” said AAR CEO Jeremy Walker. “As the market continues to strengthen, the state remains a prime location for homebuyers and investors alike, especially when supported by an increasingly favorable mortgage rate environment.”
Photo: Andrew S. / Flickr Creative Commons
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