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 100 units during January, an increase in sales of 16.3 percent from the same month in 2016, when sales totaled 86. Another resource to review is the Annual Report.

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

Home sales in Dothan increased 16.3 percent to 100 units from January 2015 to January 2016.

Forecast: Closed transactions in January were 23 units above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s 2016 sales forecast through January projected 77 closed transactions, while the actual sales were 100 units, a favorable difference of 30 percent.

Supply: The Dothan-area housing inventory in January was 1,018 units, a decrease of 8.1 percent from January 2016. January inventory was unchanged from December. Historical data indicate that January inventory on average (2012-16) increases from December by 5.6 percent. There were 10.2 months of housing supply during January (approximately 6 months represents a balanced market during January) vs. 12.9 months of supply during the same period the previous year, representing a favorable 21 percent decrease.

Demand: Residential sales increased 8.7 percent from December. Historical data (2012-2016) indicate January sales typically decrease 3.2 percent from December.

Pricing: The Dothan-area median sales price during January was $140,688, an 18.7 percent increase from January 2016 but a 4.5 percent decrease from the prior month. This direction is consistent with historical data, which indicate a decrease of 1.7 percent in pricing is typically recorded from December to January. 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.

Industry perspective: “We expect housing to remain resilient and continue its recovery in 2017, with affordability standing out as the industry’s greatest obstacle, particularly for first-time homeowners,” said Fannie Mae Chief Economist Doug Duncan. “Demographic factors, however, are positive. Our research shows that older millennials have begun to buy homes and close the homeownership attainment gap with their predecessors.”

Click here to generate more graphs from Dothan’s January Housing Report, including Total Sales, Average Sales Price, Days on the Market, Total Inventory and Months of Supply. 

The Dothan Residential Monthly Report was developed in conjunction with the Dothan Association of Realtors to better serve area consumers.