The wait is over if you have been waiting to hear what is happening with our real estate market in North Alabama. We have the latest data for two of our main counties: #Madison and #Limestone County Stats. 📈📈
For the lovers of numbers, real estate enthusiasts, and the ones that consider valuable to know what is happening locally and how this sellers market is evolving, then you must check this out.
✅Inventory has increased across the board since this time last year.
Counties have seen anywhere from 30% to 100% increase in homes to sell from May 2021.
✅Days on market have slowly increased, but not on pace with national trends.
👉 After two years of record-setting activity, there are signs the housing market might be cooling. High home prices and a surge in mortgage interest rates are slowing buyer activity, with home sales declining for the third consecutive month under the weight of soaring homeownership costs.
✅ The National Association of REALTORS® (NAR) reports existing home sales were down 2.4% from the previous month, while pending sales fell 3.9% as of last measure, extending the trend of recent months. Economists predict sales will continue to soften in the near future, which may put downward pressure on home prices.
👉New Listings increased 19.6 percent for Single Family homes and 28.6percent for Townhouse/Condo homes.
👉Pending Sales increased 3.0 percent for Single Family homes and 27.1 percent for Townhouse/Condo homes.
👉Inventory increased 39.1 percent for Single Family homes and 54.3 percent for Townhouse/Condo homes.
👉Median Sales Price increased 20.7 percent to $313,701 for Single Family homes and 0.6 percent to $250,000 for Townhouse/Condo homes. 👉Days on Market decreased 22.2 percent for Single Family homes and 54.5 percent for Townhouse/Condo homes.
👉Months Supply of Inventory increased 44.4percent for Single Family homes and 50.0 percent for Townhouse/Condo homes.
We would love to hear from you and what you think about our #housingmarket.
Wanna chat with us about some #realestate? We are ready to help and ready to chat 👇
John Wesley Brooks
📍Coldwell Banker Of The Valley
The Brooks Family Of Realtors Has Been Serving The North Alabama & Tennessee Area Since 1972. A Three Generation Real Estate Family Completely To Your Service Whether You Are Just checking Out This Part Of The United States, Curious About All The Noise Our Rocket City Is Famous For, You Are Relocating, Just Moved To Alabama or You Want To Invest In Our Real Estate Market.
We Work Hard & We Are Known For It!
#ColdwellBanker OF The Valley