Alabama’s Gulf Coast contains several real estate markets depending on location and price point – just to name a few factors. The graphic below shows real estate statistics for October 2020, the latest month available.
Vital Signs provides a visual representation of what’s happening in several local markets by showing you supply. The colored-coded numbers represent the absorption rate, the number of months it would take to sell every home on the market in a particular price range if no others were added. If the market is moving quickly, the absorption rate will fall below six months of supply, and if it’s more of a buyer’s market, it will jump above six months of supply.
The rate is determined by dividing the number of units currently on the market by the number sold in the past month. As you can see, we are seeing a less than six moth supply in most markets across the Gulf Coast, marking a historic seller’s market for our area. For updated information for your specific neighborhood, contact your Bellator agent today.