Alabama Statewide Residential Report – 3Q 2014
Quarterly Indicators
Recent Figures
Trends
Statewide: 3Q Total Residential Sales
Total Home Sales
Statewide sales for the third quarter of 2014
totaled 12,469 units, representing an increase
of 401 transactions when compared to 12,068
units that were sold in the third quarter of 2013.
vs. Last Year
vs. 5-Yr Avg
3Q
3Q
3Q
2014
2013
'09-'13
12,469
12,068
10,537
3.3%
18.3%
vs. Peak
vs. Trough
3Q
3Q
2014
2010
12,469
8,673
0.0%
43.8%
Current Quarter
13,000
12,469
12,000
11,000
10,648
10,000
9,000
8,000
ACRE Commentary
Historical Home Sales
“Historical data indicates that third quarter sales in 2014
increased by 12.1 percent from the 3-year average, and
increased by 18.3 percent from the 5-year quarterly average."
3Q
3Q
3Q
3Q
3Q
2013
2012
2011
2010
2009
5- Year Avg:
3- Year Avg:
Median Sales Price
The Statewide median sales price for the
third quarter of 2014 was $130,284, a
1.8 percent increase from the third
quarter of 2013's median sales price of
$128,026.
Current Quarter
vs. Last Year
vs. 5-Yr Avg
3Q
3Q
3Q
Graph: 3Q 2009 - 2014
(By quarter)
12,068
10,641
10,653
8,673
10,648
10,537
11,121
2014 130,284
2013 128,026
'09-'13 126,183
Statewide: 3Q Median Sales Price
1.8%
3.2%
134,000
132,000 $117,586
130,000
128,000
126,000
124,000
Median Peak
Trough
ACRE Commentary
“Historical data indicates that the third quarter median sales
price in 2014 is 3.4% higher than the 5-year average, and 3.6%
higher than the 3-year average."
3Q
3Q
2009
2011
131,034
121,871
-0.6%
6.9%
Historical Median Selling Price
3Q
2013 128,026
3Q
2012 126,112
3Q
2011 121,871
3Q
2010 123,874
3Q
2009 131,034
5- Year Avg:
126,183
3- Year Avg:
125,336
122,000
120,000
Graph: 3Q 2009 - 2014
(By quarter)
$122,132
Quarterly Indicators
Recent Figures
Trends
Statewide: 2Q Average Selling Price
Average Sales Prices
The Statewide average sales price for
the third quarter of 2014 was $161,886,
a 4.5 percent increase from the third
quarter of 2013’s average sales price of
$154,966.
Current Quarter
vs. Last Year
vs. 5-Yr Avg
Average Peak
Trough
ACRE Commentary
3Q
3Q
3Q
2014 161,886
2013 154,966
'09-'13 150,033
4.5%
7.9%
3Q
3Q
2014
2011
0.0%
10.7%
161,886
146,220
164,000
162,000
160,000
158,000
156,000
154,000 $143,242
152,000
150,000
148,000
146,000
144,000
Historical Average Selling Price
“Historical data indicates that third quarter sales prices in 2014
increased by 9.5 percent from the 5-year average, and increased by
9.7 percent from the 3-year average.”
3Q
3Q
3Q
3Q
3Q
2013
2012
2011
2010
2009
5-Year Avg:
3- Year Avg:
$149,936
Graph: 3Q 2009 - 2014
(By quarter)
154,966
148,503
146,220
148,308
152,169
150,033
149,897
Statewide: 2Q Average Days on Market
Days on Market (DOM)
Current Quarter
The average number of days on the market vs. Last Year
in the third quarter of 2014 was 154,
vs. 5-Yr Avg
representing a decrease of 7.1 percent
from 165 days on market in the third
quarter of 2013.
DOM Peak
Trough
3Q
3Q
3Q
2014
2013
'09-'13
154
165
156
-7.1%
-1.7%
170
165
160
155
154
150
3Q
3Q
2013
2009
165
153
-7.1%
0.4%
145
140
135
130
134
125
ACRE Commentary
“The 5-year DOM average (’09-’13) for the third quarter is 156
days, which 2 days higher than current results.
DOM is anticipated to remain within the current range (145-165
days) through the third quarter of 2014.”
Historical Average DOM
3Q
3Q
3Q
3Q
3Q
5-Year Avg:
3-Year Avg:
2013
2012
2011
2010
2009
165
158
160
145
153
156
161
Graph: 3Q 2009 - 2014
(By quarter)
Quarterly Indicators
Recent Figures
Trends
Statewide: 2Q Total Homes Listed
Total Homes Listed for Sale
Current Quarter
Statewide residential units available for vs. Last Year
sale in the third quarter of 2014
vs. 5-Yr Avg
decreased by 309 units when
compared to the same period last year.
Inventory Peak
Trough
3Q
3Q
2014
2013
33,538
33,847
-0.9%
3Q
'09-'13
36,713
-8.6%
3Q
3Q
2010
2014
40,745 -17.7%
33,538 0.0%
ACRE Commentary
42,000
40,745
41,000
40,000
39,000
38,000
37,000 38,153
36,000
35,000
34,000
33,000
32,000
Historical Total Homes Listed
“Third quarter's total listed sales decreased by 9.5% compared to the 5-year
average, and decreased by 4.0% compared to the 3-year average. ”
3Q
2013
3Q
2012
3Q
2011
3Q
2010
3Q
2009
5-Year Avg:
3-Year Avg:
33,538
Graph: 3Q 2009 - 2014
33,847
33,891
36,930
40,745
38,153
36,713
34,889
(By quarter)
Statewide: 2Q Inventory to Sales Ratio
Inventory-to-Sales Ratio
Definition: The inventory for sale
divided by the current monthly sales
volume equals the # of months of supply
(Market considered to be in balance at
approximately 6-7 months).
Current Quarter
vs. Last Year
vs. 5-Yr Avg
Statewide currently has 8.1 months of
supply, down from 8.4 months in the
third quarter of 2013 .
8.1
8.4
15.0
3Q
3Q
2014
2013
3Q
'09-'13
10.6 -24.2%
3Q
3Q
2010
2014
14.1 -42.7%
8.1 -0.1%
-4.1%
14.1
14.0
13.0
12.0
I/S Ratio Peak
Trough
ACRE Commentary
“Historical data indicates that the third quarter inventory-to-sales ratio in 2014
decreased by 30.9 percent from the 5-year average, and decreased by 17.3
percent from the 3-year average. This represents welcome news for the market
as it continues to trend toward a more balanced market.”
11.0
10.0
10.7
9.0
8.0
8.1
7.0
Historical I/S Ratio
3Q
3Q
3Q
3Q
3Q
2013
2012
2011
2010
2009
5-Year Avg:
3- Year Avg:
8.4
9.6
10.4
14.1
10.7
Graph: 3Q 2009 - 2014
(By quarter)
10.6
9.5
NOTE: This representation is based in whole or in part on data supplied by the reporting boards/associations of REALTORS® or their Multiple Listing Service. The Alabama Center for Real
Estate does not guarantee and is in no way responsible for its accuracy. Any Market data maintained by the Center does not necessarily include information on listings not published at the
request of the seller, listings of brokers who are not members of a local board/association or MLS, unlisted properties, rental properties, etc.
The statistics included in this report reflect the residential sales of houses, condominiums, nd town homes. Historical Monthly Housing Statistics are available on the web at Alabama Center for
Real Estate's homepage - www.acre.cba.ua.edu.