Wiregrass Region of Alabama Housing Stats for December
Wiregrass residential sales in December totaled 55 units representing a 19.6 percent improvement from the same period last year. However, year-to-date through December, the Wiregrass Market experienced sales growth of 11.8 percent over last year. In 2012, Wiregrass sales were 15.3 percent below the prior year so this year's results are a significant step in the right direction.
Supply: Wiregrass area housing inventory went down 8% from last December to 856 units. The monthly inventory decreased by 8.1%. For the last 4 years, the monthly inventory has normally decreased from November to December by 4.1%, so this is GOOD news! But, the inventory level still remains high with an inventory-to-sales ratio of 15.6 months of supply. Market equilibrium (balance) is considered to be 8 - 9 months of supply so this represents an area where continued improvement would be welcome news..
Demand: Residential sales went down 3.5% from November which is a little better than the historic norm of 13.8%. Days on Market (DOM) went down to 123 days, which is 30.5% faster than last December.
Pricing: Median price went up 6% from last December to $138,500. Historically it has been 6%.
"historic" = 2008-2012
Infograph courtesy of ACRE
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