Tuscaloosa Area Housing Statistics: April 2013

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Here’s a quick overview of how the market performed in April. The following numbers are April 2013 compared to April 2012.

  • Total residential sales in April were 206 compared to 144  (43% increase).
  • Average price was $171,578 compared to $166,891 (2.8% increase).
  • Median price was $149,300 compared to $139,900 (6.7% increase).
  • Average days on market were 110 days compared to 108 days (2% increase).
  • Inventory totaled 1,498 compared to 1,655 (9.5% decrease).

The Year-to-date totals are as follows:

  • Residential sales were 619 compared to 538 a year ago (15% increase).
  • Average price was $166,763 compared to $167,039 a year ago (.2% decrease).
  • Median price was $142,275 compared to $139,638 a year ago (2% increase).
  • Average days on market were 120 compared to 117 a year ago (2.6% increase).

The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

By the numbers, Residential sales are up far better than expected. Both average and median are steadily on the rise, which represents an increase in the value of homes. The increase in the average days in which a home stayed on the market does not constitute a significantly large increase to express an ounce of worry. However, you shouldn’t let your guard down, stay in constant contact with your realtor to gain the knowledge necessary to get your home sold!

Tuscaloosa Area Housing Statistics For May

The numbers continue to look good for the Tuscaloosa market. It’s nice to see continued results.
May 2012 vs. May 2011
  • Total residential sales were 173 compared to 166 (4.2% increase).
  • Average price was $193,610 compared to $165,318 (17% increase).
  • Median price was $156,900 compared to $146,950 (6.8% increase).
  • Average days on market were 104 days compared to 135 days (23% decrease).
  • Inventory totaled 1663 compared to 1714 (3% decrease).
Year-To-Date Totals For 2012 vs. 2011
  • Residential sales were 710 compared to 577 (23% increase).
  • Average price was $172,353 compared to $159,403 (8% increase).
  • Median price was $143,090 compared to $140,760 (1.7% increase).
  • Average days on the market were 114 compared to 130 (12% decrease).

Never Forget. 4/27/11.

“Out of Chaos Comes Hope.”

One year ago today Tuscaloosa was changed forever. The tornado ripped through not only our beloved town, but the entire Southeast,  and left utter destruction in it’s path. The damage was unimaginable.

Under the leadership of Mayor Maddox, Tuscaloosa has come back…in a big way. Over 6,000 homes and businesses were destroyed that day. Several business have broken ground on their new locations, some have re-opened their doors for good. Families are rebuilding homes or finding comfort in their new homes. It’s all coming together for this great city.

There will be a memorial service held tonight at 5 PM in Coleman Coliseum. All are encouraged to attend.

Tuscaloosa Home Sales Rose 12% in February

According to recent statistics prepared by the Alabama Center for Real Estate (ACRE), February home sales were up 12.3% compared with last year’s numbers. This is the 9th consecutive month home sales have risen compared to 2011. The graph below shows February’s residental sales growth or decline from 2002-2012.

Tuscaloosa Home Sales Rise

*Graph Obtained from ACRE

Growth in the Tuscaloosa market matched the growth of the state. I’m happy to report Tuscaloosa and the state outperformed the national growth rate, which was 8.8% compared to February of 2011. The National Association of REALTORS (NAR) reported February sales for the region increased 9.3% from the prior year as well.

To view ACRE’s full monthly report, please visit the Residential Report section of ACRE’s website.

To sum it up, good news all around for Tuscaloosa, Alabama, and the region as a whole.

Housing Statistics: September 2011 vs. September 2010

September 2011 Home Sales    
  • Active Listings:  1,461
  • Number of  Homes Sold:   161
  • Average Selling Price:  $173,756
  • Median Price:  $155,000
  • Average Days on the Market:  100
September 2010 Home Sales
  • Active Listings:  1,799
  • Number of  Homes sold: 101
  • Average Selling Price:  $148,579
  • Median Price:  $131,600
  • Average Days on the Market:  122

The silver lining: The average selling price of a home is up $25,177, versus the previous year. The median price of the home is up as well, with a difference of $23,400. Homes remained on the market for an average of 22 days less. Let’s hope these trends continue.

The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

August 2011 Housing Statistics

  • Total residential sales in July were 182 compared to 121 a year ago or a 50% increase
  • Average price in August 2011 was $163,546 compared to $164,634 in August 2010 (.67 % decrease)
  • Median price in August 2011 was $136,900 compared to $149,900 in August 2010 (8.7% decrease)
  • Average days on market were 142 days in August 2011 compared to 114 days in August 2010 (24% increase)
  • Inventory totaled 1502  for August 2011 compared to 1845 in August 2010 (18.6% decrease)
The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

July 2011 Housing Statistics

  • July 2011 Tuscaloosa home sales showed a decrease of 3% from June to July.
  • There were 221 residential homes and condominiums sold in July 2011 compared to 128 in July 2010, when the homebuyer tax credit had just expired, resulting in a increase in sales of 72% from this month last year.
  • Average price in July 2011 was $181,982 compared to $182,154 in July 2010 (.1 % decrease)
  • Median price in July 2011 was $157,000 compared to $155,000 in July 2010 (1.3% increase)
  • Average days on market were 120 days in July 2011 compared to 103 days in July 2010 (14% increase)
  • Inventory totaled 1553  for July 2011 compared to 1857 in July 2010 (19.6% decrease)
The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

Low Interest Rates, Buy NOW!

I know you have heard this before, but it truly is a buyer’s market. The Federal Reserve has set interest rates at a near-zero target rate. The Fed hopes that these historically low rates will allow consumers to move forward with greater certainty as they consider making major purchases, such as homes and cars.

Interest rates are below 4% for a 30-year conventional mortgage, that is almost unheard of! The Fed proposed to keep the rates low for the next two years to increase consumer confidence, as well as increase investments.

June 2011 Housing Statistics

Good news: Housing sales continue to increase!  Check out the statistics below to see the latest trends in the Tuscaloosa area:
  • Total residential sales in June were 228 compared to 208 a year ago or a 9.6% increase
  • Average price in June 2011 was $152,380 compared to $187,281 in June 2010 (18.6 % decrease)
  • Median price in June 2011 was $144,000 compared to $146,500 in June 2010 (1.7% decrease)
  • Average days on market were 115 days in June 2011 compared to 133 days in June 2011 (14% decrease)
  • Inventory totaled 1631  for June 2011 compared to 1894 in June 2010 (14% decrease)
  • Home sales increased 37% from May to June, with 166 sales in May and 228 sales in June.

The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

March 2011 Housing Statistics

  • Total residential sales were 118 compared to 159 a year ago. (25% decrease)
  • Average price in March 2011 was $147,111 compared to $187, 199 in March 2010. (21% decrease)
  • Median price in March 2011 was $130, 500 compared to $151, 450 in March 2010. (14% decrease)
  • Average days on market were 147 days in March 2011 compared to 137 days in March 2010. (7.3% increase)
  • Inventory totaled 1831 for March 2011 compared to 1861 in March 2011 (1.6% decrease)
  • From February to March, there was a 11% increase in home sales. (106 in Feb to 118 in Mar)

The above data was compiled from a report provided by the Tuscaloosa Association of REALTORS and the West Alabama Multiple Listing Service.

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