Sales: According to the Marshall County Board of Realtors, April residential sales increased 33.8% year-over-year (Y/Y) from 71 to 95 closed transactions, marking eleven consecutive months of Y/Y gains. Following seasonal trends, sales decreased 12.8% from March. Sales are now up 33.8% year-to-date. Two more resources to review: Quarterly Report and Annual Report.
For all of Marshall County’s housing data, click here.
Inventory: Total homes listed for sale in April declined 52.4% year-over-year from 288 to 137 listings. Months of supply dropped from 4.1 to 1.4, reflecting a market where sellers generally have elevated bargaining power.
Pricing: The area’s median sales price in April was $185,900, an increase of 23.9% from one year ago and a decrease of 11.5% 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 33 days on the market (DOM), 37 days faster than April 2020.
Forecast: April sales were 14 units, or 12.6%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 109 sales for the month, while actual sales were 95 units. ACRE forecast a total of 392 sales in the area year-to-date, while there were 382 actual sales through April, a difference of 2.5%.
Click here to view the entire monthly report.
The Marshall County Residential Monthly Report is developed in conjunction with the Marshall County Board 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.