Tuscaloosa (West Alabama) February Housing Stats

By
Real Estate Agent with RealtySouth

Tuscaloosa Real Estate MLS   
February 2009 Real Estate Statistics
# of Homes Sold: 83  New Const Sold: 24% (20 Homes)
Condos Sold: .01% (1 Units)  Condos Active: 14% (253 Units)
Ave Days on Market: 152  Avg Selling Price: $184,344 Median Selling Price: $145000
# of Homes on Market: 1803  New Const. Active: 19.6% (354 Homes)

For up to date date for the Tuscaloosa Real Estate Market visit www.chriswlee.com

 

Total Sales:

The increase in Tuscaloosa sales by 8% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in sales from Jan to Feb is 17%.

 

The increase in Alabama sales by 22% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in sales from Jan to Feb is 15%.

 

 

Inventory: 

The increase in Tuscaloosa inventory by 2% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in inventory from Jan to Feb is 2%.

 

The increase in Alabama inventory by .6% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in inventory from Jan to Feb is 3%.

 

Median Price:

Both Tuscaloosa and the State reversed recent unfavorable median price trends from the prior month(Jan.). However, the year-over-year(Feb 09 vs Feb 08) percentage change has dipped by 4 percent (Tusc) and 7 percent(Ala).

 

While Tuscaloosa and Alabama are certainly not immune from near-term pricing pressures resulting from the combination of excess supply and lower than normal demand, a trend that is anticipated to continue in the near-term, the recent FHFA 4th quarter report (see attached) continue to highlight the solid underlying fundamentals of our statewide real estate values from a long-term perspective. In today's challenging environment, Alabam consumers should remain mindful of our state's long-term values associated with residential real estate.

 

Chris Lee RealtySouth Tuscaloosa Office

205-233-5183 • clee@realtysouth.comwww.chriswlee.com

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