ALABAMA REAL ESTATE JOURNAL

Athens-area home sales up significantly in February

Sales: According to the Athens-Limestone Association of Realtors, February residential sales in the area increased 25% year-over-year (Y/Y) from 124 to 155 closed transactions, marking nine consecutive months of Y/Y gains. Following seasonal trends, sales decreased 12.2% from January. Sales are now up 26.9% 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 February declined 37% year-over-year from 276 to 174 listings. Months of supply decreased from 2.2 to 1.1, reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in February was $266,000, an increase of 20.5% from one year ago and an increase of 6.3% from January. 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 February averaged 24 days on the market (DOM), 26 days faster than February 2020.

Forecast: February sales were 42 units, or 21.3%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 197 sales, and actual sales were 155 units. ACRE forecast a total of 386 sales in the area year-to-date, while there were 340 actual sales through February, a difference of 12%.

New Construction: The 67 new homes sold represent 43.2% of all residential sales in the area in February. Total sales increased 71.8% year-over-year. The median sales price in February was $265,855, a decrease of 2.8% from January and a decrease of 14% 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 February 1 – 28, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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