Athens-area home listings down significantly from last year

Sales: According to the Athens-Limestone Association of Realtors, April residential sales in the area increased 25.2% year-over-year (Y/Y) from 159 to 199 closed transactions, marking eleven consecutive months of Y/Y gains. Breaking seasonal trends, sales decreased 13.10% from March. Sales are now up 27.8% 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 April declined 61.9% year-over-year from 315 to 120 listings, hitting a record low. Months of supply decreased from 2.0 to 0.6, another record low and reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in April was $271,833, a record high, and an increase of 8.7% from one year ago and 4.6% from March. 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 April averaged 19 days on the market (DOM), 28 days faster than April 2020.

Forecast: April sales were 28 units, or 12.2%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 227 sales, and actual sales were 199 units. ACRE forecast a total of 840 sales in the area year-to-date, while there were 768 actual sales through April, a difference of 8.6%.

New Construction: The 81 new homes sold represent 40.7% of all residential sales in the area in April. Total sales increased 12.5% year-over-year. The median sales price in April was $280,750, an increase of 0.6% from March and a decrease of 5.0% 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 April 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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