Dothan Real Estate Steady Compared to Most of Alabama
July 25th, 2008 - Categories: Dothan area Real Estate Market information
By: Charles Woodall
Managing Broker
http://www.dothanhomesearch.com
The Dothan area real estate market was the only area in Alabama to show positive sales growth in June, data from the Alabama Center for Real Estate shows. According to a story in The Dothan Eagle, Dothan was the only market in Alabama to show an increase in June, compared to last year. As posted earlier, home sales here are down about 12% through the first half of the year, compared to the same period in 2007.
So why is this market seemingly stronger than many others around the state? A couple of reasons. First, Dothan has experienced a population boom over the last several years. Second, our local economy is diverse and not reliant on any one industry for growth. Another factor might be affordability. A median price of around $135,000 puts home ownership within reach of many Dothan area residents.
Keep in mind that we do not use statistics from ACRE in our reports here. We use data from the Dothan MLS, which will not include most for sale by owner properties and some new construction, but is timely and overall very representative of the Dothan real estate market as a whole.
Why do you think the Dothan real estate market is not following the trend of sharply declining sales similar to other areas around Alabama and the nation? Let us know by commenting below.
Possibly Related Posts
- 2008 Dothan real estate market predictions - Mid-year update
- Number of Alabama foreclosures down
- Dothan Real Estate Market Update for August, 2007
This entry was posted on Friday, July 25th, 2008 at 3:57 pm and is filed under Dothan area Real Estate Market information. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
What a very informative article! I’ve never been to Alabama, but it sounds beautiful. I write weblogs for a real estate company here in Florida which is also a very beautiful place to live. http://www.c21alliancerealty.com/blog/ Thanks again for the information!