Dothan area residential sales stayed on par with last year at 86 units sold in October. Year-to-date residential sales through October are up a solid 10.6 percent which is consistent with statewide sales growth.
Supply: Housing inventory decreased 7.7% from last October to 1,228 units. The housing supply is now 14.3 months (7-8 months = balanced market). Last October it was 15.5 months supply. Before the Market Downtown in 2006, there was a 6 month supply. Historically, the increases by .4% over September.
Demand: Monthly residential sales were down 12.2%. Historically, October is up 6.9% from September. October 2006 was the peak at 126 units.
Pricing: Median pricing went up 4.2% from last October to $139,750. Historically, October is .5% better than September.
Mortgage Brokers Association: "We are projecting overall economic growth to be 2.4 percent in 2014 and 2.7 percent in 2015".
"historic" = 2008 - 2012
Infograph courtesy of ACRE.
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