Alabama Housing Market: A Mixed Bag in April 2025

Hold on to your hats, ChumCity residents! Alabama's real estate scene is serving up a fascinating mix of trends, according to the Alabama Association of REALTORS®. While some numbers dipped slightly from March, the overall picture for April 2025 shows impressive year-over-year growth.

Home Sales: A Little Less, But Still Strong

Alright, so 5,791 homes found new owners in April. That's a 6.8% nudge downward from March. But don't fret! Compared to April 2024, sales are up a solid 10.8%, proving the long-term housing hype is still going strong.

Prices: A Slight Dip, But Big Gains Overall

The median home price was $224,967 in April, a mild 2.2% slip from March. However, when we zoom out, we see a whopping 13.3% jump from last year! The average sale price also climbed to $265,232, representing a 17.8% year-over-year surge.

Total Sales Volume: Still Booming

The total sales volume landed at $1.54 billion for the month, a 3.1% decrease from March. But guess what? That's a massive 30.5% increase compared to April 2024! Cha-ching!

Inventory: More Homes to Choose From!

Good news for buyers! There were 19,144 active listings by the end of April, a fantastic 27% increase from the 15,072 available last year. More options for everyone!

Homes Selling Quicker!

Homes were on the market for about 57 days in April, which is four days faster than in March. Things are moving!

Mortgage Rates: Easing Up a Bit

As of mid-May, the average 30-year fixed mortgage rate hovered around 6.81%, a welcome drop from 7.13% last year. Fingers crossed this trend continues!

Alabama's Economy: Solid as a Rock

Alabama's unemployment rate stayed steady at a low 3.3% for the seventh month in a row, below the national average. Plus, the labor force participation rate is at its highest since early 2019. Go, Alabama!