Statewide Average Days on Market Reaches a Record Low in September 2019
Properties sold at a record pace in September as the statewide days on market (DOM) average was an impressive 82 days, the fastest ever month for sales at the statewide level in ACRE’s database, which goes back to 2000. Properties sold in September moved 8 days faster than one year ago, and the statewide year-to-date DOM average improved 10.8%, dropping from 103 days in 2018 to 92 in 2019. Demand for housing statewide remained strong as September sales improved 8.7% year-over-year (Y/Y). Year-to-date, sales are up 4.3%, which is impressive when one considers that 2018 was a record year for closed transactions statewide. Stay tuned to see if 2019 turns out to be another record year for residential sales at the statewide level.
Alabama’s fastest selling markets in September were…
1. Huntsville: 34 days
2. Birmingham: 40 days
3. Athens: 43 days
4. Calhoun County: 53 days
5. Mobile: 56 days