Let’s take a look back at 2019’s Tuscaloosa area housing market trends according to the Alabama Center for Real Estate. Overall, it was a great year!
Total Residential Sales
Tuscaloosa residential sales during 2019 totaled 2,756 units, representing an increase of 3.2 percent when compared to 2,671 units sold in 2018.
Average Sales Price
The average sales price in Tuscaloosa during 2019 was $222,577, a 2.6 percent increase from 2018’s average sales price of $216,977.
Days on Market (DOM)
The average number of days on market in 2019 was 56 days, representing a decrease of 10.6 percent from 63 days on market in 2018.
Homes Listed for Sale
Tuscaloosa’s average number of residential units available for sale decreased 2.5 percent when compared to 2018.
Inventory-to-Sales Ratio
Definition: The inventory for sale divided by the current annual sales volume equals the number of months of supply. The market is considered to be in balance at approximately 6 months of housing supply. Compared to historical data, the annual supply was 20.8 percent below the 3-year annual average and 40.9 percent below the 5-year annual
average.