Sales: According to the Marshall County Board of Realtors, July residential sales increased 22.5% year-over-year from 98 to 120 closed transactions. Sales decreased 1.6% from June, and are up 15.5% year to date.
Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: Total homes listed for sale in July declined 40.9% year-over-year from 367 to 217 listings. Months of supply dropped from 3.7 to 1.8, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in July was $175,000, a decrease of 6.2% from one year ago and an increase of 5.3% 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 61 days on the market (DOM), 8 days faster than July 2019.
Forecast: July sales were 30 units, or 33.3%, above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 90 sales for the month, while actual sales were 120 units. ACRE forecast a total of 551 residential sales in the area year-to-date, while there were 612 actual sales through July, a difference of 11.1%.
Click here to view the entire monthly report.
The Marshall County Residential Monthly Report is developed in conjunction with the Marshall County Board 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.
