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ALABAMA
Alabama Housing Market Sees Sales Increase
Alabama is known to house the Rocket Capital of the world,
but recently, the Southern state's housing market has been recog-
nized for its increases in home sales and affordability.
According to the Alabama News Center, the December me-
dian sales price increased 0.6 percent to $134,525. Approximately 48
percent of local markets experienced price gains since December
2015, which fluctuates month-to-month depending on data sam-
pling size and seasonal buying patterns. e December median
sales price has seen a 7.2 percent decrease from November 2016.
Alabama has also seen a 1.5 percent increase in residential
sales from November to December, which aligns with historical
statewide data indicating that December sales on average (2011-15)
increase from November by 11.6 percent. e average days on mar-
ket until a listing sold was 148 days, which is a 4.3 percent increase
from 2015. According to the National Association of Realtors'
November Existing Home Sales Report, December home sales
were 0.7 percent higher than home sales from December 2015.
A recent article on Alabama.com listed the top 10 markets in
Alabama based on market stability, risk, ease of sell, and af-
fordability. e ranking, curated by SmartAsset, also listed the
markets along with the average number of days on the market: (1)
Leeds with 55.8 days, (2) Vestavia Hills with 87 days, (3) Home-
wood with 56 days, (4) Forestdale with 79 days, (5) Huntsville
with 90 days, (6) Satsuma with 95 days, (7) Hoover with 119 days,
(8) Madison with 179 days, (9) Saraland with 139 days, and (10)
Gardendale with 107 days.
