Real estate sales up $3.7M

Published 2:45 am Saturday, May 5, 2018

Local realtors tally $11.64M in sales year to date

Home ownership rates continue to rise in the United States, according to the Alabama Association of Realtors, with rates increasing in each of the last five quarters.

Real estate sales numbers for the first quarter of 2018 in Covington County show a real estate boom, Covington Association of Realtors President Donna Raines said Friday.

Year to date, the number of sales has increased 39 percent over the same period last year, with a total of $11.64 million in sales recorded in the first four months, a 47 percent increase over the same period last year, when the total was $7.91 million.

Related: Developers see lots of interest in new subdivisions

Raines said the sales represent first-time homeowners, locals upsizing or downsizing, and people relocating here.

“We get calls all the time from people up north planning to retire here,” she said. “They are looking in a radius of Andalusia, Enterprise, and all of those towns in between. They shop towns. Sometimes they don’t want to be in a place as busy as Enterprise and Dothan, but they want to be close.”

The two most popular ranges are houses priced $150,000 to $200,000, and houses priced $80,000 to $150,000, she said.

“We’ve got lots of investors buying the cheaper stuff and reselling them,” she said. “Most of the buyers don’t want to have to do any work.”

One of the most popular areas now is the country club area.

“The country club is seeing a huge resurgence,” she said. “Young couples wanting to move back are interested, or those selling and moving from other areas of town.”

As of Friday morning, there were 235 residential properties listed in the multiple listing service.

“Really, our inventory is low,” Raines said.