Top 5 Most Improved Markets in September

Top 5 Most Improved Markets in September

Topics: Research, Residential Real Estate

Markets: Athens (Limestone County), Baldwin County - All, Baldwin County - Condo Only, Birmingham Metro, Calhoun County, Cherokee County

The Alabama Center for Real Estate created the following rankings based on year-over-year (YOY) growth in total residential sales during September.

  1. 1.  Baldwin County - 18.5 percent
  2. 2.  Tuscaloosa - 16.3 percent
  3. 3.  Lake Martin Area - 14.8 percent
  4. 4.  Cullman - 13.6 percent
  5. 5.  Lee County - 13.2 percent

 

Baldwin County: Residential sales volume in Baldwin County increased 18.5 percent year-over-year (YOY) from 471 to 558 transactions. Year-to-date sales reached a total of 5,362 closed transactions, an increase of 3.9 percent from one year ago. The median sales price increased 5.4 percent from $228,000 to $240,275. The year-to-date median sales price increased 5.5 percent from $227,072 to $239,453. Inventory increased 4.7 percent from 2,711 residential listings one year ago to 2,839 in September. Months of supply decreased from 5.8 to 5.1, while average days on market (DOM) dropped from 102 to 83.  

Tuscaloosa: Residential sales volume in the Tuscaloosa area increased 16.3 percent YOY from 190 to 221 transactions. Year-to-date sales reached a total of 2,102 closed transactions, an increase of 4.3 percent from one year ago. The median sales price increased 11.8 percent from $167,750 to $187,500. The year-to-date median sales price increased 5.4 percent from $165,561 to $174,439. Inventory decreased 8.4 percent from 961 residential listings one year ago to 880 in September. Months of supply decreased from 5.1 to 4.0, while average days on market (DOM) was unchanged from 62 one year ago.

Lake Martin Area: Residential sales volume in the Lake Martin area increased 14.8 percent YOY from 61 to 70 transactions. Year-to-date sales reached a total of 529 closed transactions, an increase of 1.7 percent from one year ago. The median sales price decreased 28.7 percent from $349,000 to $248,700. The year-to-date median sales price decreased 11.4 percent from $267,656 to $237,050. Inventory increased 32 percent from 406 residential listings one year ago to 536 in September. Months of supply increased from 6.7 to 7.7, while average days on market (DOM) dropped from 149 to 123.

Cullman: Residential sales volume in the Cullman area increased 13.6 percent YOY from 66 to 75 transactions. Year-to-date sales reached a total of 664 closed transactions, an increase of 5.7 percent from one year ago. The median sales price decreased 7.1 percent from $150,750 to $140,000. The year-to-date median sales price increased 4.6 percent from $137,064 to $143,367. Inventory decreased 10.9 percent from 561 residential listings one year ago to 500 in September. Months of supply decreased from 8.5 to 6.7, while average days on market (DOM) increased from 111 to 127.

Lee County: Residential sales volume in the Auburn/Opelika area increased 13.2 percent YOY from 136 to 154 transactions. Year-to-date sales reached a total of 1,702 closed transactions, an increase of 15.3 percent from one year ago. The median sales price decreased 9.7 percent from $257,348 to $232,269. The year-to-date median sales price increased 3.8 percent from $225,422 to $234,021. Inventory increased 8.6 percent from 534 residential listings one year ago to 580 in September. Months of supply decreased from 3.9 to 3.8, while average days on market (DOM) dropped from 58 to 55.