Alabama Residential Report August 2018

Transcription

1 Alabama Residential Report August 2018 Monthly Indicators Recent Figures Trends Total Residential Sales Current Month August ,862 Alabama home sales for August 2018 vs. Prior Month July , % totaled 5,862 units, an increase of 198 vs. August , % transactions (3.5%) when compared to vs. 5-Yr Avg August 13-'17 4, % one year ago. In August, 14 of the 24 (58%) reporting associations experienced favorable sales gains compared to one year ago. vs. Peak August , % vs. Trough August , % Year to Date August ,209 vs. Prior Year August , % ACRE Commentary Historical Home Sales Historical data indicates that August home sales on average August ,664 Graph: August ( 13-17) decrease from July by 1.4 percent. The current August ,282 (By month) month's statewide sales increased 2.5 percent from the prior August ,579 month." August ,171 August , Year Avg: 4, Year Avg: 5,175 6,500 6,000 5,500 5,000 4,500 3,871 4,000 3,500 3,000 2,500 Statewide: Total Residential Sales 2,983 5,862 Median Sales Price Current Month August ,711 The median sales price in Alabama in vs. Prior Month July , % August 2018 was $162,711, representing vs. August , % a 2.9 percent increase from one year vs. 5-Yr Avg August 13-'17 144, % ago. In August, 15 of 24 (63%) associations reported positive year-over-year gains in median price from one year ago. Year to Date August ,044 vs. Prior Year August , % Median Peak August , % Trough August , % Statewide: Median Sales Price 170, , , , , , , , , , , , , ,711 ACRE Commentary Historical Median Selling Price Graph: August Historical data indicates that August's statewide median sales price August ,059 (By month) on average ( 13-17) decreases 2.1 percent from the previous month. The current month's statewide median sales price decreased 3.8 August ,855 percent from the month prior. Low housing supply continues to apply August ,511 pressure on year-over-year home pricing in most Alabama markets, a trend that will continue for the foreseeable future. August ,020 August , Year Avg: 144, Year Avg: 150,809 Page 1 of 8

2 Monthly Indicators Recent Figures Trends Average Sales Prices Current Month August ,220 The average sales price in Alabama for vs. Prior Month July , % August 2018 was $195,220, a 4.1 percent vs. August , % increase from one year ago. vs. 5-Yr Avg August 13-'17 171, % In August, 17 of 24 (71%) of associations reported positive year-over-year gains in average price from one year ago. Year to Date August ,515 vs. Prior Year August , % Statewide: Average Sales Price 200, , , , , , ,220 Average Peak August , % Trough August , % 150, , ,417 ACRE Commentary Historical data indicates that August's statewide average sales Historical Average Selling Price Graph: August (By month) price on average ( 13-17) decreases 0.6 percent from the August ,515 previous month. The current month's statewide average price August ,330 decreased 0.5 percent from the previous month. A shortage of August ,326 housing supply continues to apply pressure on home pricing in August ,570 Alabama markets. August ,765 5-Year Avg: 171, Year Avg: 177,057 Days on Market (DOM) Current Month August The average number of days that an Alabama home was on the market in August 2018 was 95 days, representing a decrease of 22 days from one year ago. In August, 20 of the 24 (83%) associations reported a positive year-over-year reduction in average DOM from one year ago. vs. Prior Month July % vs. August % vs. 5-Yr Avg August 13-' % Year to Date August vs. Prior Year August % Statewide: Average Days on Market ACRE Commentary Historical Average DOM Graph: August "Historical data indicates that August's statewide average number of days on the market ('13-'17) increases 8 days from the previous month. The current month's statewide DOM average increased 9 days from the previous month. The statewide DOM average is anticipated to remain within the current range ( days) for the foreseeable future. August (By month) August August August August Year Avg: 140 Page 2 of 8

3 Monthly Indicators Recent Figures Trends Total Homes Listed for Sale Current Month August ,165 Alabama homes listed for sale in August vs. Prior Month July , % 2018 decreased by 3,105 units (-11%) when vs. August , % compared to one year ago. vs. 5-Yr Avg August 13-'17 31, % In June, 6 of the 24 (25%) associations have reported year-over-year increases in inventory from one year ago. Inventory Peak August , % Trough August , % Statewide: Total Homes Listed 45,000 41,812 40,000 35,000 30,000 25,000 20,000 24,165 ACRE Commentary Historical Total Homes Listed Graph: August Historical data indicates that Alabama's August housing inventory on average ( 13-17) decreases 1.3 percent from July. The current month's statewide inventory decreased 0.4 percent from the prior month. August ,270 (By month) August ,683 August ,040 August ,374 August ,531 5-Year Avg: 31,380 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). Major metro areas report 3.6 months of supply, midsize metro areas report 4.3 months of supply, while non-metro areas report 5.7 months of supply. Current Month August vs. Prior Month July % vs. August % vs. 5-Yr Avg August 13-' % I/S Ratio Peak August % Trough August % Statewide: Months of Supply ACRE Commentary Historical I/S Ratio Graph: August "As emphasized in previous monthly reports, the state s low housing inventory (24,165 units for sale) is well below the historic 10-year average (35,000 +/- units), indicating a continued transition where sellers typically have elevated bargaining power." August (By month) August August August August Year Avg: Year Avg: 5.9 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 Alabama Home Sales Report - August 2018 YTD* YTD * **Inventory / Sales Ratio August '18 Total Homes Sold 5,862 5, % 5, % 42,209 39, % 4.1 Median Sales Price 162, , % 158, % 159, , % Average Sales Price 195, , % 187, % 189, , % Average Days on Market* % % % Total Homes Listed 24,165 24, % 27, % *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 **Inventory / Sales Ratio Birmingham 1,460 1, % 1, % 10,876 10, % 4.0 Huntsville % % 5,242 4, % 2.3 Mobile % % 3,202 3, % 3.5 Montgomery % % 3,226 3, % 4.6 Subtotal 3,100 3, % 2, % 22,546 21, % 3.6 Baldwin County % % 4,804 4, % 4.2 Calhoun County % % 1,147 1, % 5.6 Dothan % % 1, % 7.8 Gadsden % % % 5.6 Lee County % % 1,548 1, % 3.0 Decatur % % 1,158 1, % 2.6 Shoals Area % % 1,363 1, % 4.2 Tuscaloosa % % % 3.6 Subtotal 1,872 1, % 1, % 13,557 12, % 4.3 Athens % % 1,246 1, % 2.7 Cherokee County % % % 5.8 Covington County % % % 11.5 Cullman % % % 5.9 Jackson County % % % 6.4 Lake Martin Area % % % 7.1 Marshall County % % % 4.5 Monroe County % % % 31.2 Phenix City % % % 3.7 Talladega County % % % 8.0 Wiregrass Region % % % 7.3 Walker County % % % 8.0 Subtotal % % 6,106 5, % 5.7 Page 4 of 8

5 MEDIAN SELLING PRICE Statewide YTD* YTD * Median Sales Price 162, , % 158, % 159, , % YTD YTD Birmingham 209, , % 194, % 204, , % Huntsville 193, , % 195, % 200, , % Mobile 149, , % 141, % 146, , % Montgomery 145, , % 160, % 149, , % Median Sales Price Average 174, , % 172, % 175, , % Baldwin County 246, , % 242, % 239, , % Calhoun County 149, , % 119, % 131, , % Dothan 138, , % 147, % 146, , % Gadsden 125, , % 128, % 125, , % Lee County 243, , % 231, % 234, , % Decatur 160, , % 128, % 140, , % Shoals Area 153, , % 135, % 138, , % Tuscaloosa 169, , % 167, % 172, , % Median Sales Price Average 173, , % 162, % 166, , % Athens 203, , % 190, % 203, , % Cherokee County 147, , % 171, % 148, , % Covington County 106, , % 102, % 95, , % Cullman 149, , % 153, % 143, , % Jackson County 132, , % 132, % 146, , % Lake Martin Area 238, , % 253, % 235, , % Marshall County 144, , % 125, % 131, , % Monroe County 73, , % 80, % 102, , % Phenix City 168, , % 161, % 155, , % Talladega County 167, , % 134, % 147, , % Wiregrass Region 139, , % 154, % 133, , % Walker County 150, , % 143, % 142, , % Median Sales Price Average 151, , % 150, % 148, , % Page 5 of 8

6 AVERAGE SELLING PRICE YTD* YTD * Statewide Average Sales Price 195, , % 187, % 189, , % YTD YTD Birmingham 250, , % 235, % 242, , % Huntsville 226, , % 228, % 227, , % Mobile 176, , % 163, % 167, , % Montgomery 168, , % 176, % 168, , % Average Sales Price Average 205, , % 200, % 201, , % Baldwin County 309, , % 302, % 298, , % Calhoun County 174, , % 136, % 146, , % Dothan 158, , % 154, % 163, , % Gadsden 141, , % 136, % 139, , % Lee County 273, , % 247, % 255, , % Decatur 164, , % 144, % 155, , % Shoals Area 168, , % 159, % 163, , % Tuscaloosa 225, , % 229, % 215, , % Average Sales Price Average 201, , % 188, % 192, , % Athens 226, , % 212, % 219, , % Cherokee County 171, , % 194, % 175, , % Covington County 126, , % 121, % 110, , % Cullman 206, , % 206, % 177, , % Jackson County 188, , % 162, % 188, , % Lake Martin Area 321, , % 358, % 352, , % Marshall County 171, , % 153, % 172, , % Monroe County 87, , % 87, % 120, , % Phenix City 174, , % 173, % 165, , % Talladega County 211, , % 168, % 173, , % Wiregrass Region 154, , % 151, % 150, , % Walker County 209, , % 195, % 197, , % Average Sales Price Average 187, , % 182, % 183, , % Page 6 of 8

7 AVERAGE DAYS on the MARKET Statewide YTD* YTD * Average Days on Market* % % % *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 Birmingham % % % Huntsville % % % Mobile % % % Montgomery % % % Average DOM Average % % % Baldwin County % % % Calhoun County % % % Dothan % % % Gadsden % % % Lee County % % % Decatur % % % Shoals Area % % % Tuscaloosa % % % Average DOM Average % % % Athens % % % Cherokee County % % % Covington County % % % Cullman % % % Jackson County % % % Lake Martin Area % % % Marshall County % % % Monroe County % % % Phenix City % % % Talladega County % % % Wiregrass Region % % % Walker County % % % Average DOM Average % % % Page 7 of 8

8 TOTAL HOMES LISTED Statewide Total Homes Listed **Inv./Sales August '18 July '18 August '17 Ratio August '18 24,165 24, % 27, % 4.1 **Inv./Sales August '18 July '18 August '17 Ratio Birmingham 5,779 5, % 6, % 4.0 Huntsville 1,698 1, % 2, % 2.3 Mobile 1,546 1, % 1, % 3.5 Montgomery 2,076 2, % 2, % 4.6 Subtotal 11,099 11, % 12, % 3.6 Baldwin County 2,853 2, % 3, % 4.2 Calhoun County % % 5.6 Dothan 1,048 1, % 1, % 7.8 Gadsden % % 5.6 Lee County % % 3.0 Decatur % % 2.6 Shoals Area % % 4.2 Tuscaloosa % % 3.6 Subtotal 8,036 8, % 8, % 4.3 Athens % % 2.7 Cherokee Co % % 5.8 Covington Co % % 11.5 Cullman % % 5.9 Jackson County % % 6.4 Lake Martin % % 7.1 Marshall County % % 4.5 Monroe County % % 31.2 Phenix City % % 3.7 Talladega Co % % 8.0 Wiregrass % % 7.3 Walker County % % 8.0 Subtotal 5,030 4, % 5, % 5.7 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. 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.) *The in the Average Days on Market may appear to at variance due to numbers beyond the decimal created when all markets are averaged. Historical Monthly Housing Statistics are available on the web at the Alabama Center for Real Estate's homepage: Page 8 of 8