Athens-area home sales average 17 days on market in January

Sales: According to the Athens-Limestone Association of Realtors, January residential sales in the area increased 28.5% year-over-year (Y/Y) from 144 to 185 closed transactions, marking 8 consecutive months of Y/Y gains. Following seasonal trends, sales decreased 23.2% from December. 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 January declined 33.6% year-over-year from 298 to 198 listings. Months of supply decreased from 2.1 to 1.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in January was $250,237, an increase of 6.5% from one year ago and a decrease of 1.9% from December. 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 January averaged 17 days on the market (DOM), 26 days faster than January 2020.

Forecast: January sales were 4 units, or 2.4%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 189 sales, and actual sales were 185 units.

New Construction: The 73 new homes sold represent 39.5% of all residential sales in the area in January. Total sales increased 46% year-over-year. The median sales price in January was $273,592, a decrease of 3.8% from December and a decrease of 7% from one year ago.

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 January 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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