Tuscaloosa continued its rebound from the affects of the Great Recession during 2015, ending the year with 10.3 percent more sales than 2014.

For The Alabama Center for Real Estate’s Tuscaloosa Quarterly and Annual reports, click the links.

Annual Report

According to the Tuscaloosa Association of Realtors, there were 2,122 homes sold in the Tuscaloosa area during 2015, compared to 1,924 homes in 2014, a 10.3 percent rise. This is the highest number of sales for a year in Tuscaloosa since 2007 (2,886). Between 2010-’14, Tuscaloosa averaged 1,777 units sold each year, 19.4 percent lower than the 2015 total.

The median sales price for Tuscaloosa homes during 2015 was $156,789, a rise of 3.4 percent from 2014 ($151,665) and an increase of 6.6 percent over the five-year average (2010-’14) of $147,200. Homes that sold during 2015 in Tuscaloosa spent an average of 98 days on the market compared to 114 during 2014.

Inventory decreased in a favorable direction from 1,449 units on the market in 2014 to 1,374 units in 2015, a 5 percent decrease.

The inventory-to-sales ration dropped as well to 8.3 months of supply. That’s down from 9.3 months of supply during 2014 and down favorably from 15.4 months of supply, the 2010 peak.

The average price for a home sold in Tuscaloosa during 2015 was $185,803.

Homes sold in Tuscaloosa during 2015 spent and average of 98 days on the market.

Inventory, on average, decreased to 1,374.

The median sales price rose to $156,879 during 2015 in Tuscaloosa.

The inventory-to-sales ratio continued to fall in a favorable direction during 2015 in Tuscaloosa.

There were 2,122 total homes sold during 2015 in Tuscaloosa.

4Q Report

During the final three months of 2015, there were 474 units sold in Tuscaloosa, a 10.4 percent increase over the fourth quarter of 2014 (428 units).

This was also 104 units more than the five-year average for the fourth quarter established between 2010-’14.

The median sales price for Tuscaloosa homes during the fourth quarter was $151,750, a slip of 2.4 percent from the fourth quarter in 2014.

Homes sold in Tuscaloosa during the fourth quarter spent an average of 94 days on the market, a favorable 20 percent decrease from the fourth quarter in 2014. Inventory also decreased favorably by 13 percent to 1,199 units on the market. There was 7.8 months of supply during the fourth quarter, a statistic that has been decreasing favorably since 2011 and is down from 19.4 months of supply during 2010.

On average, homes sold in Tuscaloosa during the fourth quarter spent an average of 94 days on the market.

The average home price in Tuscaloosa during the fourth quarter was $178,046.

Inventory-to-sales ration in Tuscaloosa during the fourth quarter continued to drop favorably to 7.8 months of supply.

The median sales price in Tuscaloosa during the fourth quarter was $151,750.

Inventory continued to drop favorably in the Tuscaloosa area during the fourth quarter.

There were 474 units sold in Tuscaloosa during the fourth quarter.

 The Tuscaloosa end of the year report is a work product developed in conjunction with the Tuscaloosa 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.