June home sales in the Athens area improve from one year ago

Sales: According to the Athens-Limestone Association of Realtors, June residential sales in the area increased 18.1% year-over-year (Y/Y) from 188 to 222 closed transactions. Following seasonal trends but to a larger degree, sales increased 23.3% from May. With the sizable gain in June, area sales are now down slightly (-1%) year-to-date. Two more resources to review: Quarterly Report and Annual Report.

For all of the Athens (Limestone County) housing data, click here.

Inventory: Total homes listed for sale in June declined 26.9% year-over-year from 368 to 269 listings. Months of supply decreased from 2.0 to 1.2, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in June was $253,980, an increase of 6.7% from one year ago and an increase of 1.6% from May. The differing sample size (number of residential sales of comparative months) can contribute to statistical volatility, including pricing. ACRE recommends consulting with a local real estate professional to discuss pricing, as it will vary from neighborhood to neighborhood.

Homes sold in June averaged 32 days on the market (DOM), 14 days faster than June 2019.

Forecast: June sales were 26 units, or 13.3% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 196 sales, while actual sales were 222 units. ACRE forecast a total of 993 sales in the area year-to-date, while there were 1,003 actual sales through June, a difference of 1%.

Click here to view the entire monthly report.

The Athens Area (Limestone County) Monthly Residential Report is developed in conjunction with the Athens-Limestone Association of Realtors to better serve area consumers.

Editor’s Note: All information in this article reflects data provided to the Alabama Center for Real Estate for the time period June 1 – 30, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the upcoming impact of COVID-19 on the housing market.

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