Tuscaloosa (West Alabama) February Housing Stats

Tuscaloosa Real Estate MLS
February 2009 Real Estate Statistics
# of Homes Sold: 83 New Const Sold: 24% (20 Homes)
Condos Sold: .01% (1 Units) Condos Active: 14% (253 Units)
Ave Days on Market: 152 Avg Selling Price: $184,344 Median Selling Price: $145000
# of Homes on Market: 1803 New Const. Active: 19.6% (354 Homes)

For up to date date for the Tuscaloosa Real Estate Market visit www.chriswlee.com

Total Sales:

The increase in Tuscaloosa sales by 8% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in sales from Jan to Feb is 17%.

The increase in Alabama sales by 22% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in sales from Jan to Feb is 15%.

Inventory:

The increase in Tuscaloosa inventory by 2% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in inventory from Jan to Feb is 2%.

The increase in Alabama inventory by .6% from the prior month(Jan) is consistent with historic and seasonal sales trends between the two periods. In comparison, the 5-year average(04-08) increase in inventory from Jan to Feb is 3%.

Median Price:

Both Tuscaloosa and the State reversed recent unfavorable median price trends from the prior month(Jan.). However, the year-over-year(Feb 09 vs Feb 08) percentage change has dipped by 4 percent (Tusc) and 7 percent(Ala).

While Tuscaloosa and Alabama are certainly not immune from near-term pricing pressures resulting from the combination of excess supply and lower than normal demand, a trend that is anticipated to continue in the near-term, the recent FHFA 4th quarter report (see attached) continue to highlight the solid underlying fundamentals of our statewide real estate values from a long-term perspective. In today's challenging environment, Alabam consumers should remain mindful of our state's long-term values associated with residential real estate.

Chris Lee • RealtySouth • Tuscaloosa Office

205-233-5183 • clee@realtysouth.com • www.chriswlee.com