Dothan real estate market steady compared to rest of Alabama

Real Estate Broker/Owner with CENTURY 21 Key Realty

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The Dothan area real estate market was the only area in Alabama to show positive sales growth in June, data from the Alabama Center for Real Estate shows. According to a story in The Dothan Eagle, Dothan was the only market in Alabama to show an increase in June, compared to last year. As posted earlier, home sales here are down about 12% through the first half of the year, compared to the same period in 2007.

So why is this market seemingly stronger than many others around the state? A couple of reasons. First, Dothan has experienced a population boom over the last several years. Second, our local economy is diverse and not reliant on any one industry for growth. Another factor might be affordability. A median price of around $135,000 puts home ownership within reach of many Dothan area residents.

Keep in mind that we do not use statistics from ACRE in our reports here. We use data from the Dothan MLS, which will not include most for sale by owner properties and some new construction, but is timely and overall very representative of the Dothan real estate market as a whole.

Why do you think the Dothan real estate market is not following the trend of sharply declining sales similar to other areas around Alabama and the nation? Let us know by commenting below.

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