ALABAMA REAL ESTATE JOURNAL

Athens-area home sales average 20 days on market in November

Sales: According to the Athens-Limestone Association of Realtors, November residential sales in the area increased 10.9% year-over-year (Y/Y) from 156 to 173 closed transactions. Sales decreased 32.2% from October, and area sales are now up 14.7% 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 November declined 23.8% year-over-year from 328 to 250 listings. Months of supply decreased from 2.1 to 1.4, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in November was $257,135, an increase of 7.3% from one year ago and an increase of 6.3% from October. 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 November averaged 20 days on the market (DOM), 19 days faster than November 2019.

Forecast: November sales were equal to the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 173 sales, and actual sales were 173 units. ACRE forecast a total of 1,925 sales in the area year-to-date, while there were 2,121 actual sales through November, a difference of 10.2%.

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 November 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.

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