Tuscaloosa-area home prices fall 1.4% in August, with houses for sale in high demand
A typical Tuscaloosa County home was listed for $315,498 in August, down 1.4% from the previous month's $319,900, an analysis of data from Realtor.com shows.
The median list home price in August was up about 7.9% from August 2021. Tuscaloosa County's median home was 2,058 square feet for a listed price of $157 per square foot.
The Tuscaloosa County market was busy, with a median of 51 days on market. A month earlier, homes had a median 37 days on market. The market added 276 new home listings in August, compared with the 348 added in August 2021. The market ended the month with some 540 listings of homes for sale.
The median home prices issued by Realtor.com may exclude much, or even most, of a market's homes. The price and volume represent only homes that are single-family homes, condominiums, or townhomes. They include existing homes, but exclude the newest construction as well as pending and contingent sales.
Information on your local housing market is available through the USA TODAY Network, with more data from Realtor.com.
What were Tuscaloosa-area home prices in August? Here's a county-by-county breakdown
Pickens County's home prices rose 9.6%, to a median of $180,000, from a month earlier. The typical house was on the market for 58 days, from 56 days a month earlier. The typical 2,019-square-foot house had a list price of $113 per square foot.
Fayette County's home prices rose 18.3%, to a median $289,900, from a month earlier. The typical house was on the market for 51 days, from 51 days a month earlier. The typical 2,147-square-foot house had a list price of $103 per square foot.
Hale County's home prices rose 17.3%, to a median $282,000, from a month earlier. The typical house was on the market for 74 days, from 54 days a month earlier. The typical 2,031-square-foot house had a list price of $143 per square foot.
Bibb County's home prices fell 9.1%, to a median $244,450, from a month earlier. The typical house was on the market for 47 days, from 36 days a month earlier. The typical 1,839-square-foot house had a list price of $112 per square foot.
Across all of Alabama, median home prices were $325,000, similar to the previous month. The median Alabama home for sale had 2,005 square feet at list price of $153 per square foot.
Across the United States, median home prices were $435,050, down 3.1% from a month earlier. The median American home for sale had 1,890 square feet, listed at $222 per square foot.
The median home list price — the midway point of all the houses or units listed over a period of time — is used more often in this report instead of the average home list price because experts say the median offers a more accurate view of what's happening in a market. In finding the average price, all prices of homes listed are added and then divided by the number of homes sold. This measure can be skewed by one low or high price.
The USA TODAY Network is publishing localized versions of this story on its news sites across the country, generated with data from the Realtor.com residential listings database. The story was written by Mike Stucka and Sean Lahman.
This article originally appeared on The Tuscaloosa News: Tuscaloosa-area homes for sale drop to $315,498 median price
