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Dothan Region of Alabama Housing Stats for March 2014
Dothan, Alabama area residential sales improve 21% in March from last year
Dothan area residential sales in March improved 21.3 percent from the same period a year ago with the sale of 224 units.
Supply: Dothan area housing inventory went down 13.1% from last March to 1,133 units. The monthly inventory decreased by 1.0%. It is interesting to compare to pre-downturn era (March 2006) when the figure was 3.5 months of supply reporting a market that was too hot (the "good ol'days" that I keep hearing about!). But, the inventory level still remains high with an inventory-to-sales ratio of 12.5 months of supply, but is a decrease from 28.4% last March. 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 7.2% from February. Sales typically increase from the month of Febuary by 18.6 percent.
Pricing: The Dothan area median sales price in March was $120,000, which is a 5.5% decrease from last March, but the same as last month. This is consistent with historical data indicating that March median price, historically* increases from the month of ... more
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