ALABAMA REAL ESTATE JOURNAL

Athens area home sales rise in July 2020

Sales: According to the Athens-Limestone Association of Realtors, July residential sales in the area increased 24.3% year-over-year (Y/Y) from 189 to 235 closed transactions. Sales increased 5.9% from June, and area sales are now up 3% 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 July declined 24.8% year-over-year from 343 to 258 listings. Months of supply decreased from 1.8 to 1.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in July was $255,490, an increase of 16.4% from one year ago and an increase of 0.6% from June. 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 July averaged 28 days on the market (DOM), 10 days faster than July 2019.

Forecast: July sales were 31 units, or 15.2% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 204 sales, while actual sales were 235 units. ACRE forecast a total of 1,197 sales in the area year-to-date, while there were 1,238 actual sales through July, a difference of 3.4%.

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 July 1 – 31, 2020. Thus, the performance represented is historical and should not be used as an indicator of future results, particularly considering the impact of COVID-19 on the housing market. 

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