August home sales in the Athens area increase from one year ago

Sales: According to the Athens-Limestone Association of Realtors, August residential sales in the area increased 16.8% year-over-year (Y/Y) from 202 to 236 closed transactions. Sales increased 0.4% from July, and area sales are now up 5% 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 August declined 11.5% year-over-year from 332 to 294 listings. Months of supply decreased from 1.6 to 1.2, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in August was $243,790, an increase of 10.2% from one year ago and a decrease of 4.6% from July. 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 August averaged 37 days on the market (DOM), 4 days faster than August 2019.

Forecast: August sales were 39 units, or 19.8% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 197 sales, while actual sales were 236 units. ACRE forecast a total of 1,394 sales in the area year-to-date, while there were 1,474 actual sales through August, a difference of 5.7%.

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 August 1 – 30, 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.