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 135 units during June, an increase in sales of 17.4 percent from the same period last year. Year-to-date home sales through June are up 17.1 percent over last year. Another resource to review is the Annual Report.

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

Forecast: Closed transactions in June were 25 units above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE’s year-to-date sales forecast through June projected 560 closed transactions, while the actual sales were 698 units, a favorable difference of 25 percent.

Supply: The Dothan-area housing inventory in June was 1,169 units, a decrease of 8.5 percent from June 2015. June inventory increased 2.8 percent from May. This direction is consistent with historical data indicating that June inventory on average (2011- 2015) increases from May by 1.7 percent. There were 8.7 months of housing supply in June (approximately 6 months represents a balanced market during June) vs. 11.1 months of supply during the same period last year, representing a favorable 21.7 percent decline.

Demand: Residential sales decreased 10.6 percent from May. Historical data (2011-2015) indicate June sales typically decrease 1.7 percent from May.

Pricing: The Dothan-area median sales price in June was $170,000, a 13 percent increase from last June and a 32.8 percent decrease from the prior month. This direction contrasts with historical data, which indicate an increase of 5.3 percent in pricing is typically recorded from May to June. 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: “Housing activity is gaining strength heading into the summer, with pending home sales rising to a decade high. In addition, new home sales surged to an expansion best, a positive for single-family homebuilding, especially since only a small share of new homes for sale are completed and ready to occupy,” said Fannie Mae Chief Economist Doug Duncan in the organization’s June Economic Outlook. “However, recent pullbacks in construction hiring, likely due to a shortage of skilled workers, could weigh on the outlook for the sector. With little improvement in the current housing supply picture so far, we expect only moderate housing expansion this year.” For the full report, click here.

The average sales price for homes sold in Dothan during June was $173,826.

On average, homes sold in Dothan during June spent 136 days on the market.

Home sales over the past five years during June in Dothan have averaged 99 units.

There were 1,169 units on the market during June in Dothan.

The median sales price for homes sold in Dothan during June was $170,000.

There were 8.7 months of supply on the market during June in Dothan.

Year-to-date residential sales during June in Dothan rose 17 percent over the same period last year.

There were 135 units sold in Dothan during June.

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