Dothan, Alabama area residential sales improve 2.6% in February
Wiregrass residential sales in January totaled 64 units representing about the same number from the same period last year in the number of houses sold. The median price for Dothan Alabama houses increased by 2.6%.
Supply: Dothan area housing inventory went down 11% from last February to 1,145 units. The monthly inventory increased by 2.6%. For the last 4 years, the monthly inventory has normally increased from January to February by 2.9%. But, the inventory level still remains high with an inventory-to-sales ratio of 17.9 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 7.2% from January. Sales typically increase from the month of January by 18.6 percent.
Pricing: Median price went up 2.6% from last February to $120,000, but down 7.7% (was $130,000) from January. Historically it has increased by 2.3% from January.
Since Local Markets are just that, “LOCAL”, we highly recommend consulting with a real estate professional to discuss prices as it can, and will, vary from neighborhood to neighborhood.
"historic" = 2009-2013
Infograph & stats courtesy of ACRE
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