Dothan Region of Alabama Housing Stats for March 2014

By
Real Estate Agent with iXL Real Estate-Wiregrasss\

 

 

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 February by .3 percent. The sales peak for the month of February was established in 2007 (108 units).

 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

 

Posted by

_______________________________

Travis Parker
Associate Broker, Military Relocation Professional
CRS, ABR, MRP, SFR, e-PRO®, BPOR, ACRE

Team Linda Simmons Real Estate, Inc.
1611 E. Park Ave.
Enterprise, AL 36330
334-494-7846 cell
334-347-8441 office
334-347-7653 fax

"follow-me" phone # 70-SOLD-MANN
www.teamlindasimmons.com

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Rainmaker
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Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

Hi Travis, It nice to see the sales figure on the rise, but like everywhere else, inventory is getting scarce. Have a great day.

Apr 17, 2014 11:50 AM #1
Rainmaker
3,278,128
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Travis great Market Snapshot hope your buyers and sellers appreciate your research and knowledge, Endre

Apr 21, 2014 02:06 PM #2
Ambassador
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Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

We too need inventory - I'm running out every morning to preview homes in case they are the "right" match for the buyers I'm working with right now. It's exhausting. Lol.

Apr 23, 2014 06:15 AM #3
Rainmaker
5,625,914
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Prospective home sellers will be happy to see that the market is improving. They will be in good hands when they use your services.

Apr 30, 2014 10:52 PM #4
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Rainmaker
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Travis "the SOLD man" Parker; Associate Broker

email: Travis@theSOLDman.me / cell: 334-494-7846
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