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Market Update: April 2022

Central Alabama Market Update

How’s the Market? We are glad you asked!

In April 2022, the River Region saw 466 sales. The average list price was $250,974, and the average sales price was $263,135. The average days on the market came in at 46.

In March 2022, the River Region saw 521 sales. The average list price was $245,145, and the average sales price was $244,508. The average days on the market came in at 45.

This is a prime time to sell your home! Our current inventory numbers are LOW!! See below:

Elmore County has 81 homes available.

Autauga County has 42 homes available.

Montgomery County has 293 homes available.

To put those numbers in perspective, in the last 30 days, Montgomery county sales totaled 104. That equals less than a month worth of inventory. This is a historic inventory shortage! As you can see in the graph above, we have gone from around 10 months supply several years ago, to less than 1 currently. Also, below you can see that the median sales price has drastically increased in the last decade.

As you can see below, we seem to be on the verge of a shift in the real estate market. There is not a better time than now to buy or sell! We recommend hiring a professional to assist you in navigating this competitive and turbulent market. We are always here to help. Please don’t hesitate to reach out if you have questions! We love to help!

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