Morgan County (Lawrence) Residential Report July 2018

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Mervin Abraham McDaniel
5 years ago
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1 Morgan County (Lawrence) Residential Report July 2018 Monthly Indicators Recent Figures Trends Total Home Sales Current Month July vs. Prior Month June % vs. Last Year July % vs. 5-Yr Avg July 13-' % Morgan County residential* sales for the current month totaled 177 units, representing an increase of 61 units when compared to the 116 units that were sold one year ago. (% of Total Sales) Existing SF: 168 (95%) (95%) Condo: 0 (0%) 0 (0%) New Const. 9 (5%) 6 (5%) *Residential = existing single family, condo, & new construction vs. Peak July % vs. Trough July % Year to Date July % vs. Prior Year July ACRE Commentary Historical Home Sales Graph: July Historical data indicates that July sales on average ( 13-17) July (By month) decrease 15.5 percent from June. This month's sales increased July percent from the prior month." July July 2014 July Year Avg: 3- Year Avg: Morgan: Total Residential Sales Median Sales Price Current Month July ,000 vs. Prior Month June 2018, % vs. Last Year July , % vs. 5-Yr Avg July 13-'17 124, % The median sales price in Morgan County for the current month was $143,000, a 14.4 percent increase from $125,000, the median sales price one year ago. Existing SF: $137,400 $131,0 New Const. $231,232 $196,000 Year to Date July ,914 vs. Prior Year July , % Median Peak July , % Trough July ,0 59.1% $150,000 $,000 $,000 $,000 $,000 $,000 $,000 $,000 Morgan: Median Sales Price 144, , ,0 89,0 ACRE Commentary Historical Median Selling Price Graph: July Historical data indicates that July's median sales price on (By month) July ,000 average ( 13-17) increases 2.0 percent from June. The current month's median sales price increased 2.1 percent from the prior July ,850 month." July 2015,250 July ,000 July , Year Avg: 124, Year Avg:,033 Page 1 of 5

2 Monthly Indicators Recent Figures Trends Average Sales Prices Current Month July ,645 vs. Prior Month June , % vs. Last Year July , % vs. 5-Yr Avg July 13-'17 137, % The average sales price in Morgan County for the current month was $156,645, a 17.2 percent increase from last year when the average sales price was $133,647. Existing SF: $152,498 $135,933 New Const. $234,064 $191,975 Year to Date July ,502 vs. Prior Year July , % Average Peak July , % Trough July 2011, % Morgan: Average Sales Price $165,000 $1,000 $155,000 $150,000 $145,000 $,000 $135, ,575 $,000 $125,000,521 $,000 $115, ,645 ACRE Commentary Historical data indicates that the July average sales prices on Historical Average Selling Price Graph: July (By month) average ( 13-17) decreases 3.9 percent from June. The current July ,647 month's average price decreased.6 percent from the prior month." July ,944 July ,953 July ,266 July ,691 5-Year Avg: 137, Year Avg: 138,848 Days on Market (DOM) Current Month July The average number of days on the market this month was 56, representing an improvement of 35.6 percent from 87 days on market one year ago. Existing SF: New Const vs. Prior Month June % vs. Last Year July % vs. 5-Yr Avg July 13-' % Year to Date July vs. Prior Year July % Morgan: Average Days on Market ACRE Commentary Historical Average DOM Graph: July The 5-year DOM average ( 13-17) for the month of July is 102 days, which is 46 days above current results. DOM is anticipated to remain within the current range (- days) for the foreseeable future. July (By month) July 2016 July July July Year Avg: 102 Page 2 of 5

Monthly Indicators Recent Figures Trends Total Homes Listed for Sale Current Month July 2018 495 vs. Prior Month June 2018 485 2.1% vs. Last Year July 2017 689-28.2% vs. 5-Yr Avg July 13-'17 853-42.

3 Monthly Indicators Recent Figures Trends Total Homes Listed for Sale Current Month July vs. Prior Month June % vs. Last Year July % vs. 5-Yr Avg July 13-' % Morgan residential units available for the current month decreased by 194 units when compared to the same period last year when 689 residential units were available for sale. Inventory Peak July , -56.2% Trough July % 1,200 1, 1, Morgan: Total Homes Listed 1, 495 ACRE Commentary Historical Total Homes Listed Graph: July Historical data indicates that July inventory on average ( 13-17) increases 3.7 percent from June. The current month's inventory increased 2.1 percent from last month's total of 485 homes. July (By month) July July July ,004 July Year Avg: 853 Inventory-to-Sales Ratio The inventory for sale divided by the current monthly sales volume equals the # of months of supply (Market considered to be in balance at approximately 6 months). Morgan and Lawrence Counties currently have 2.8 months of supply, down from 3.0 months during June and down from 5.9 months a year ago. Current Month July vs. Prior Month June % vs. Last Year July % vs. 5-Yr Avg July 13-' % I/S Ratio Peak July % Trough July % Morgan: Months of Supply ACRE Commentary Historical I/S Ratio Graph: July "July's 2.8 months of supply is well below the 5-Year average of 7.4 months of supply. Morgan and Lawrence County's inventory-to-sales ratio is 3.2 months below equilibrium, indicating a continued transition where sellers typically have slightly elevated bargaining power." July (By month) July July July July Year Avg: Year Avg: 5.8 Page 3 of 5

Decatur Area: Residential Sales and Inventory Sales 200 1 1 750 0 650

Area: Historical Sales and Inventory Sales 200 1 1 1,150 1,050 950

4 Decatur Area: Residential Sales and Inventory Sales Inventory 400 Morgan Sales Morgan Inventory Decatur Area: Historical Sales and Inventory Sales ,150 1, Inventory Morgan Sales Morgan Inventory 450 Page 4 of 5

Average Days on Market and Median Sales Price 150,000,000,000 Average DOM,000,000 Median Sales Price,000 50,000 40 Morgan Average DOM Morgan Median Sales Price,000 NOTE: This representation is based

5 Average Days on Market and Median Sales Price 150,000,000,000 Average DOM,000,000 Median Sales Price,000 50, Morgan Average DOM Morgan Median Sales Price,000 NOTE: This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS or their Multiple Listing Service. The Alabama Center for Real Estate does not guarantee and is in no way responsible for its accuracy. Any Market data maintained by the Center does not necessarily include information on listings not published at the request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc. The statistics included in this report reflect the residential sales of houses, condominiums, and town homes. Historical Monthly Housing Statistics are available on the web at Alabama Center for Real Estate's homepage - Page 5 of 5

Mobile Residential Sales Report March 2019

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