Market Information March 2018 in Tuscaloosa County

housing-market-2
One of the key factors in any real estate market is absorption rate but, what is absorption rate? The easy answer is absorption rate is if inventory remains the same and the number of sales continues at the current rate then this is how long it will be before we run out of inventory.
We are going to compare absorption rate from the past 30 day to the past 6 months and then to the past 10 years.   This will give us a picture of what the market is currently doing.
Absorption Rate in Tuscaloosa over the past 30 days.
211 homes sold in the past 30 days
749 Active Listings
Absorption rate is 3.5 months of inventory.
Absorption Rate in Tuscaloosa over the past six months. 
1063 Homes sold in the past 6 Months = 177.16 Homes sold per month
749 Active Listings
Absorption rate is 4.22 months of inventory.
Absorption Rate in Tuscaloosa in Feb 2008. 
There were 1917 Active Listings and 172 sold during that month.
Absorption rate was 11.14 months of inventory.

List to Sale Price Ratio

Average Days to Sell
List Price by SqFt
The past six months is our slowest of the year. As we move into our prime selling months you will notice the market continue to strengthen.  Tuscaloosa is a solid market and you can expect prices to continue to climb and inventory to continue to fall. We remained a stronger market than some of the surrounding areas through the financial crisis several years ago.  Between the University of Alabama, the amount of industry, and a healthy job market we will continue to see the absorption rate decline between now and August.
Looking to buy or sell a home?

Chris Lee and Rusty’s Team at RealtySouth 205-233-5183

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