As summer wrapped up, Alabama’s real estate market kept up a solid pace compared to last year—even as we saw the usual seasonal slowdown. In Mid-Q3, there were 6,680 homes sold across the state, which is a 9.3% drop from the previous month, but right in line with the ebb and flow we expect as fall approaches. Median sale price inched down to about $277,800 (a 3.5% decline from Early-Q3), and total sales volume reached $2.19 billion, down 10.2% month-over-month.
What stands out for buyers right now? Choice. At the end of Mid-Q3, there were 22,360 active listings throughout Alabama, and statewide supply crept up from 4.1 to 4.6 months—giving buyers a little more breathing room. Mortgage rates hovered near 7%, and with the affordability index holding at 90, it’s clear that many families are still feeling the squeeze when it comes to purchasing power.
Economists expect prices to edge down a bit more in Late-Q3, and predict the market could ease up further thanks to the season and interest rates. For those of you weighing your next move in Shelby or Jefferson County, I always aim to break down these shifts in a way that fits your needs and lifestyle—because whether you’re buying your first home, upsizing for a growing family, or making a fresh start, understanding the market helps you make confident choices.
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