May 2019 was a great month in real estate in central Alabama.
Over 500 homes were sold in Central Alabama’s River Region in May 2019. The median sales price for real estate in central Alabama was approximately $177,000. The average days on the market was a whopping low of 57.
The vast majority of those homes sold were single family residences, with a few sprinklings of mobile homes, patio homes, townhomes, and condos.
AVERAGE PRICE RANGE CENTRAL ALABAMA
The median(average minus highest and lowest) sales price for single family homes in central Alabama’s River Region at the end of May 2019 was $183,000.
|PROPERTY SUBTYPE||MEDIAN SALES PRICE|
|SINGLE FAMILY HOME||$183,000|
EXISTING HOME SALES CENTRAL ALABAMA
A total of 511 homes sold in central Alabama in May 2019.
|MONTH||NUMBER OF UNITS SOLD|
AVERAGE DAYS ON MARKET
The average days on the market for single family homes in May 2019 was 91. This is down significantly from the first quarter 2019 average days on market of 101.
LISTING VOLUME CENTRAL ALABAMA
There are currently 1582 active listings for residential real estate. That is about 3 months worth of inventory in the current sales climate. This is still a seller’s market, but the tide could be changing.
AVERAGE LIST TO CLOSE PRICE
The average list to close ratio is right at 98%. This equates to homes are selling for very near their advertised price.
HOME VALUES BY AREA
|AREA||MEDIAN SALES PRICE|
Outlook for the Future
Want to stay up to date on the real estate market in the area?