ALABAMA REAL ESTATE JOURNAL

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

Sales: According to the Athens-Limestone Association of Realtors, May residential sales in the area increased 13.3% year-over-year (Y/Y) from 180 to 204 closed transactions, marking twelve consecutive months of Y/Y gains. Following seasonal trends, sales increased 2.5% from April. Sales are now up 24.5% 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 May declined 55.1% year-over-year from 294 to 132 listings. Months of supply decreased from 1.6 to 0.6, a continued record low from last month and reflecting a market where sellers generally have elevated bargaining power.

Pricing: The area’s median sales price in May was $282,842, a record high, and an increase of 13.1% from one year ago and 4.1% from April. 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 May averaged 17 days on the market (DOM), a record low and 20 days faster than May 2020.

Forecast: May sales were 51 units, or 20.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 255 sales, and actual sales were 204 units. ACRE forecast a total of 1096 sales in the area year-to-date, while there were 972 actual sales through May, a difference of 11.3%.

New Construction: The 71 new homes sold represent 34.8% of all residential sales in the area in May. Total sales increased 4.4% year-over-year. The median sales price in May was $299,507, an increase of 6.7% from April and an increase of 4.4% 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 May 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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