Click here to view or print the entire monthly report compliments of the ACRE Corporate Cabinet.

Sales: According to the Dothan Multiple Listing Service Inc., Dothan area residential sales totaled 77 units during December, an increase in sales growth of 16.7 percent from the same period last year. Year-to-date sales through December were up 18.5 percent from 2014. Two more resources to review: Quarterly Report and Annual Report

For all of Dothan’s area real estate data, click here.

Home sales during December in Dothan were exactly the same as the previous month (77).

Forecast: Closed transactions in December were exactly on target with our monthly forecast. ACRE’s year-to-date sales forecast through December projected 1,079 closed transactions while the actual sales were 1,206 units, a favorable difference of 11.7 percent.

Supply: The Dothan area housing inventory in December was 1,092 units, a decrease of 7.4 percent from December  2014. December inventory slipped 6 percent from the prior month. This direction is consistent with historical data indicating that December inventory on average (2010-14) decreases from November by 5.5 percent. There were 14.2 months of housing supply in December (approximately 6 months represents balanced market during December  NSA) versus 17.9 months of supply during the same period last year, representing a favorable 20.6 percent decline.

Demand: Residential sales were unchanged from the prior month. Historical data (2010-’14) indicates December sales typically increase 5.5 percent from the month of November.

Pricing: The Dothan area median sales price in December was $137,500, a 5.4 percent increase from last December and a 10 percent increase from the prior month. This direction contrasts with historical data which indicates a decrease of 0.3 percent in pricing is typically recorded from November to December. It should also be noted that differing sample size (number of residential sales of comparative months) can contribute to statistical volatility including pricing. The center highly recommends consulting with a local real estate professional to discuss pricing trends as it can and will vary from neighborhood to neighborhood.

Industry Perspective: “Consumers ended the year on an improved note with regard to their income, job security, and overall economic outlook. This more positive consumer sentiment brought the HPSI up a few points, moving the index up for all of 2015,” said Doug Duncan, senior vice president and chief economist at Fannie Mae. “Brightening economic prospects, if sustained, should stimulate demand for homeownership. However, continuing upward pressure on rental prices and constrained housing supply, particularly for starter homes, may mean prospective first-time homebuyers could face affordability constraints.” For full report click here.

During December, the average home in Dothan sold for $146,291.

On average, homes sold during December in Dothan spent 171 days on the market.

Supply dipped by 7.4 percent in Dothan during December, compared to 2014.

The median sales price in Dothan rose to $137,500 during December.

Months of supply is still high but trending in the right direction for December in Dothan.

Year-to-date sales rose 18.5 percent in Dothan during December.

Dothan finished with a solid December sales rate of 77 units.

The Dothan Residential Monthly Report work product developed in conjunction with the Dothan Association of Realtors to better serve West Alabama consumers. The ACRE monthly report is provided to illustrate the “general” market direction & trends when comparing prior periods with the most current residential data available. Real estate is local and statistics will fluctuate between areas within a city including subdivisions, and ACRE recommends that you consult a local real estate professional for “specific” advice associated with your market. The Alabama Center for Real Estate‘s core purpose is to advance the real estate industry in Alabama by providing relevant resources in the areas of research, education and outreach. Join the Center mailing list here.