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    Second Quarter Real Estate Report

    Q2 Tuscaloosa Real Estate Report

    May and June are historically the highest sales months of the year here at The Gray Group at Keller Williams Realty. This year we sold over $26 million in  real estate from April to June making it our strongest quarter yet. Let’s take a look at the Tuscaloosa market of the moment.

    Inventory– Tuscaloosa residential inventory is down 18% year over year (YOY) while demand is up 6% YOY according to the Alabama Center for Real Estate. This trend is leading to strong price appreciation.

    Median Sales Price– Homes are selling for more money. The median sales price is up 8% rising from $184,900 to $200,368 YOY.

    Days on Market– The average days on market for Tuscaloosa real estate dropped 19% from 73 to 59 YOY. Not only are we seeing homes sell faster, we are seeing more multiple offer situations where the seller gets to choose from the best on the table.

    Total Distressed Property– Foreclosures make up a mere 4.87% of the market these days. That’s down from 5.93% a year ago.

    While signs of changes in the market are not obvious at this point, we do not anticipate this high rate of appreciation to sustain itself long term. We do feel that the rest of 2018 and 2019 look very positive.

    If buying or selling real estate is one of your short or long term goals, we would love to talk to you more about the Tuscaloosa market and help you make the best decision. Call us any time.

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