Alabama Residential Report December 2016

Transcription

1 Alabama Residential Report December 2016 Monthly Indicators Recent Figures Trends : Total Residential Sales Total Residential Sales Current Month December ,035 6,000 Alabama home sales for December 2016 vs. Prior Month November , % totaled 4,035 units, an increase of 224 5,000 vs. December , % transactions when compared to the vs. 5-Yr Avg December 4,000 '11-'15 3, % 3,811 homes sold in December ,035 3,000 In December, 11 of the twenty-five vs. Peak December , % 2,000 2,639 experienced favorable sales gains (44%) reporting associations have vs. Trough December , % 1,000 compared to December Year to Date December ,759 0 vs. Prior Year December , % ACRE Commentary Historical Home Sales Historical data indicates that December home sales on average December ,811 Graph: December ( 11-15) traditionally increases from the month of November December ,494 (By month) by 11.6 percent. December 2016 statewide sales posted a 1.5 December ,234 percent increase compared to last month. December ,851 December , Year Avg: 3, Year Avg: 3,513 Median Sales Price Current Month December ,999 The median sales price in Alabama in vs. Prior Month November , % December 2016 was $134,525, which is a vs. December , % 0.6 percent increase from December vs. 5-Yr Avg December '11-'15 128, % 2015's median sales price of $133,700. In December, 12 of twenty-five (48%) assoications reported positive year-overyear gains in median price from December Year to Date December ,898 vs. Prior Year December , % Median Peak December , % Trough December , % 170, , , , , , , ,000 90,000 80,000 : Median Sales Price 134, ,122 ACRE Commentary Historical Median Selling Price Graph: December December ,700 (By month) Historical data indicates that December median sales prices on average ( 11-15) traditionally increase by 5.5 percent from the month of November. Alabama's December '16 median sales price decreased by 7.2 percent from the month prior. While pricing is beginning to stabilize, excess housing supply continue to apply pressure on yearover-year home pricing in most Alabama markets, a trend that will continue for the foreseeable future. December ,176 December ,226 December ,661 December , Year Avg: 128, Year Avg: 130,701 Page 1 of 8

2 Monthly Indicators Recent Figures Trends Average Sales Prices Current Month December ,448 The average sales price in Alabama for vs. Prior Month November , % December 2016 was $165,448, a 4.3 vs. December , % percent decrease from December 2015's average sales price of $158,643. vs. 5-Yr Avg December '11-'15 151, % In December, fifteen of twenty five (60%) associations reported positive yearover-year gains in average price from December Year to Date December ,309 vs. Prior Year December , % Average Peak December , % Trough December , % 190, , , , , , , , , ,000 : Average Sales Price 165, ,447 ACRE Commentary Historical data indicates that December average sales prices Historical Average Selling Price Graph: December (By month) ( 11-15) traditionally increase from the month of November by December , percent. The December '16 average price decreased from December ,680 last month by 4.1 percent. While pricing is beginning to December ,972 stabilize across many markets, excess housing supply continue December ,291 to apply pressure on home pricing in Alabama markets. December ,447 5-Year Avg: 151, Year Avg: 155,765 Days on Market (DOM) Current Month December The average number of days that an Alabama home was on the market in December 2016 was 148, representing an increase of 4.3 percent from December In December, 10 of the twenty-five (40%) associations have reported a positive yearover-year reduction in average DOM from December vs. Prior Month November % vs. December % vs. 5-Yr Avg December '11-' % Year to Date December vs. Prior Year December % : Avg. Days on Market ACRE Commentary Historical Average DOM Graph: December The 5-year DOM average ( 11-15) for the month of December is 150 days, which is 2 days above the current results. The current DOM is anticipated to continue within the current range ( days) for the foreseeable future. December (By month) December December December December Year Avg: 150 Page 2 of 8

3 Monthly Indicators Recent Figures Trends Total Homes Listed for Sale Current Month December ,003 Alabama homes available for sale in vs. Prior Month November , % December 2016 decreased by 2,847 units vs. December , % when compared to the same period last vs. 5-Yr Avg December '11-'15 30, % year. In December, 25 of the twenty-five (100%) associations have reported positive year-over-year reductions in inventory from December Inventory Peak December , % Trough December , % : Total Homes Listed 47,000 42,000 39,706 37,000 32,000 27,000 22,000 26,003 ACRE Commentary Historical Total Homes Listed Graph: December Historical data indicates that homes for sale on average ( 11-15) decrease by 6.1 percent from November to December. The December '16 inventory decreased by 9.9 percent from the prior month. December ,850 (By month) December ,203 December ,751 December ,869 December ,262 5-Year Avg: 31,387 Inventory-to-Sales Ratio The inventory of homes for sale divided by the current monthly sales volume equals the # of months of housing supply (market considered to be in balance at approximately 6-7 months). Metro areas report 5.8 months of supply, midsize markets report 6.8 months of supply, while rural areas report 9.5 months of supply. Current Month December vs. Prior Month November % vs. December % vs. 5-Yr Avg December '11-' % I/S Ratio Peak December % Trough December % : Months of Supply ACRE Commentary Historical I/S Ratio Graph: December As emphasized in previous monthly reports, the state s abundant housing inventory needs to begin to reduce toward, and then below, the historic 10-year average (28,000+/- units) for the market to transition toward a broader state of equilibrium. December (By month) December December December December Year Avg: Year Avg: 8.7 NOTE: This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS or their Multiple Listing Service. The Alabama Center for Real Estate does not guarantee and is in no way responsible for its accuracy. Any Market data maintained by the Center does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc. The statistics included in this report reflect the residential sales of houses, condominiums, and town homes. Historical Monthly Housing Statistics are available on the web at Alabama Center for Real Estate's homepage - Page 3 of 8

4 STATEWIDE STATISTICS Alabama Home Sales Report - December 2016 YTD* YTD * **Inv./Sales December '16 November '16 December '15 December '16 December '15 Ratio of Dec '16 Total Homes Sold 4,035 4, % 3, % 53,819 49, % 6.4 Median Sales Price 139, , % 133, % 141, , % Average Sales Price 165, , % 158, % 166, , % Average Days on Market* % % % Total Homes Listed 26,003 29, % 28, % *The in the Average Days on Market may appear to at variance due to numbers beyond the decimal created when all markets are averaged. ~ **The Inventory to Sales Ratio (Inv./Sales Ratio) represents the ratio produced by the current month of Total Homes Listed divided by the Current Month Total Homes Sold. This ratio shows at the rate of sales in the current month, the number of months necessary to sell the existing homes on the market in the current month. TOTAL HOMES SOLD YTD YTD **Inv./Sales December '16 November '16 September-16 December '16 December '15 Ratio Birmingham 1,071 1, % 1, % 14,705 13, % 5.8 Huntsville- Madison Co % % 6,227 5, % 4.8 Mobile % % 4,470 4, % 6.3 Montgomery % % 4,229 4, % 6.8 Tuscaloosa % % 2,457 2, % 5.5 Subtotal 2,352 2, % 2, % 32,088 29, % 5.8 Baldwin % % 5,571 5, % 5.4 Calhoun County % % 1,510 1, % 9.3 Cullman % % % 8.2 Dothan % % 1,319 1, % 11.1 Gadsden % % % 9.7 Lee County % % 1,823 1, % 3.4 Decatur-Morgan County % % 1,482 1, % 6.2 Muscle Shoals % % 1,571 1, % 7.4 Phenix City % % 1, % 7.3 Wiregrass % % % 8.2 Subtotal 1,304 1, % 1, % 16,884 15, % 6.8 Athens- Limestone County % % 1,408 1, % 4.9 Cherokee County % % % 20.0 Covington % % % 11.2 Jackson County % % % 18.5 Lake Martin % % % 8.6 Marshall County % % % 7.7 Monroe County % % % 14.4 Selma % % % 17.3 Talladega County % % % 14.3 Walker County % % % 13.8 Subtotal % % 4,847 4, % 9.5 Page 4 of 8

5 MEDIAN SELLING PRICE YTD* YTD * December '16 November '16 September-16 December '16 December '15 Median Sales Price 139, , % 133, % 141, , % YTD YTD December '16 November '16 September-16 December '16 December '15 Birmingham 188, , % 175, % 183, , % Huntsville- Madison County 199, , % 172, % 181, , % Mobile 137, , % 130, % 131, , % Montgomery 147, , % 140, % 143, , % Tuscaloosa 170, , % 158, % 161, , % Median Sales Price Average 168, , % 155, % 160, , % Baldwin 234, , % 208, % 217, , % Calhoun County 127, , % 119, % 121, , % Cullman 123, , % 129, % 129, , % Dothan 147, , % 137, % 141, , % Gadsden 109,150 84, % 125, % 101,827 97, % Lee County 210, , % 189, % 204, , % Decatur-Morgan County 117, , % 124, % 126, , % Muscle Shoals 122, , % 116, % 125, , % Phenix City 154, , % 132, % 146, , % Wiregrass 130, , % 96, % 118, , % Median Sales Price Average 147, , % 137, % 143, , % Athens- Limestone County 177, , % 175, % 171, , % Cherokee County 135, , % 93, % 128, , % Covington 77, , % 84, % 101,379 86, % Jackson County 56, , % 110, % 105, , % Lake Martin 187, , % 250, % 237, , % Marshall County 118, , % 120, % 121, , % Monroe County 100, , % 67, % 103,424 81, % Selma 63,500 71, % 70, % 74,875 82, % Talladega County 142, , % 138, % 138, , % Walker County 125, , % 77, % 129, , % Median Sales Price Average 118, , % 118, % 131, , % Page 5 of 8

6 AVERAGE SELLING PRICE YTD* YTD * December '16 November '16 September-16 December '16 December '15 Average Sales Price 165, , % 158, % 166, , % YTD YTD December '16 November '16 September-16 December '16 December '15 Birmingham 224, , % 209, % 222, , % Huntsville- Madison County 216, , % 200, % 205, , % Mobile 160, , % 149, % 154, , % Montgomery 164, , % 157, % 160, , % Tuscaloosa 203, , % 197, % 196, , % Average Sales Price Average 193, , % 182, % 187, , % Baldwin 293, , % 268, % 267, , % Calhoun County 147, , % 132, % 134, , % Cullman 135, , % 141, % 155, , % Dothan 156, , % 146, % 158, , % Gadsden 120, , % 131, % 121, , % Lee County 246, , % 224, % 230, , % Decatur-Morgan County 134, , % 140, % 142, , % Muscle Shoals 134, , % 128, % 146, , % Phenix City 161, , % 156, % 159, , % Wiregrass 140, , % 117, % 135, , % Average Sales Price Average 167, , % 158, % 165, , % Athens- Limestone County 202, , % 193, % 190, , % Cherokee County 161, , % 91, % 147, , % Covington 104, , % 105, % 113,193 97, % Jackson County 102, , % 133, % 131, , % Lake Martin 269, , % 370, % 315, , % Marshall County 152, , % 126, % 149, , % Monroe County 120, , % 94, % 105,432 94, % Selma 71,450 81, % 79, % 84,546 94, % Talladega County 146, , % 129, % 148, , % Walker County 167, , % 136, % 179, , % Average Sales Price Average 149, , % 146, % 156, , % Page 6 of 8

7 AVERAGE DAYS on the MARKET Average Days Home * On Market YTD* YTD * December '16 November '16 December '15 December '16 December ' % % % *The in the Average Days on Market may appear to at variance due to numbers beyond the decimal created when all markets are averaged. YTD YTD December '16 November '16 December '15 December '16 December '15 Birmingham % % % Huntsville- Madison County % % % Mobile % % % Montgomery % % % Tuscaloosa % % % Average DOM Average % % % Baldwin % % % Calhoun County % % % Cullman % % % Dothan % % % Gadsden % % % Lee County % % % Decatur-Morgan County % % % Muscle Shoals % % % Phenix City % % % Wiregrass % % % Average DOM Average % % % Athens- Limestone County % % % Cherokee County % % % Covington % % % Jackson County % % % Lake Martin % % % Marshall County % % % Monroe County % % % Selma % % % Talladega County % % % Walker County % % % Average DOM Average % % % Page 7 of 8

8 TOTAL HOMES LISTED Total Homes Listed **Inv./Sales December '16 November '16 December '15 Ratio of Dec '16 26,003 29, % 28, % 6.4 **Inv./Sales Current Month November '16 December '15 Ratio Birmingham 6,190 6, % 6, % 5.8 Huntsville- Madison Co. 2,371 2, % 2, % 4.8 Mobile 1,873 1, % 2, % 6.3 Montgomery 2,093 2, % 2, % 6.8 Tuscaloosa 1,008 1, % 1, % 5.5 Subtotal 13,535 14, % 15, % 5.8 Baldwin 2,519 2, % 2, % 5.4 Calhoun County % 1, % 9.3 Cullman % % 8.2 Dothan 1,018 1, % 1, % 11.1 Gadsden % % 9.7 Lee County % % 3.4 Decatur-Morgan Co % % 6.2 Muscle Shoals % % 7.4 Phenix City % % 7.3 Wiregrass % % 8.2 Subtotal 8,860 9, % 9, % 6.8 Athens- Limestone Co % % 4.9 Cherokee County % % 20.0 Covington 269 2, % % 11.2 Jackson County % % 18.5 Lake Martin % % 8.6 Marshall County % % 7.7 Monroe County % % 14.4 Selma % % 17.3 Talladega County % % 14.3 Walker County % % 13.8 Subtotal 3,608 6, % 3, % 9.5 NOTE : This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS or their Multiple Listing Service. Alabama Center for Real Estate - University of Alabama does not guarantee and is in no way responsible for its accuracy. Any market data maintained by the Center does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc. The statistics included in this report reflect the residential sales of houses, condominiums, and townhomes. Numbers in red indicate negative numbers. (Note: A negative number in the Average Days on Market indicates an improvement.) Historical Monthly Housing Statistics are available on the web at Alabama Center for Real Estate's homepage: Page 8 of 8