Sales: According to the Dothan Multiple Listing Service Inc., Dothan-area residential sales totaled 92 units during December, an increase in sales of 19.5 percent from the same month in 2015. Home sales for 2016 through December were up 9.4 percent over the previous year. Another resource to review is the Annual Report.
For all of Dothan’s area real estate data, click here.
Forecast: Closed transactions in December were 12 units above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2016 sales forecast through December projected 1,129 closed transactions, while the actual sales were 1,319 units, a favorable difference of 17 percent.
Supply: The Dothan-area housing inventory in December was 1,018 units, a decrease of 6.8 percent from December 2015. December inventory decreased 7.6 percent from November. This direction is consistent with historical data indicating that December inventory on average (2011- 2015) decreases from November by 6.3 percent. There were 11.1 months of housing supply during December (approximately 6 months represents a balanced market during December) vs. 14.2 months of supply during the same period the previous year, representing a favorable 22 percent decrease.
Demand: Residential sales decreased 4.2 percent from November. Historical data (2011-2015) indicate December sales typically increase 4 percent from November.
Pricing: The Dothan-area median sales price during December was $147,250, a 7 percent increase from December 2015 and a 6.7 percent increase from the prior month. This direction is consistent with historical data, which indicate an increase of 4.6 percent in pricing is typically recorded from November to December. Differing sample sizes (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE highly recommends consulting with a local real estate professional to discuss pricing trends, as they will vary from neighborhood to neighborhood.
Click here to generate more graphs from Dothan’s December Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply.