ALABAMA REAL ESTATE JOURNAL

Athens area home sales average 22 days on market in October

Sales: According to the Athens-Limestone Association of Realtors, October residential sales in the area increased 84.8% year-over-year (Y/Y) from 138 to 255 closed transactions. Sales increased 16.4% from September, and area sales are now up 15% 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 October declined 17.5% year-over-year from 321 to 265 listings. Months of supply decreased from 2.3 to 1.0, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in October was $241,900, an increase of 8.7% from one year ago and a decrease of 1.3% from September. 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 October averaged 22 days on the market (DOM), 10 days faster than October 2019.

Forecast: October sales were 87 units, or 51.8% above the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 168 sales, while actual sales were 255 units. ACRE forecast a total of 1,752 sales in the area year-to-date, while there were 1,948 actual sales through October, a difference of 11.2%.

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 October 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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