Sales: According to the Athens-Limestone Association of Realtors, August residential sales in the area decreased 0.4% year-over-year (Y/Y) from 236 to 235 closed transactions. Sales increased 10.9% from July. Sales are now up 13.0% 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: August listings (197) increased 15.9% from July, but declined 33.0% from one year ago. At the current sales pace, all the active inventory on the market would sell in 0.8 months, the same as in July and down from 1.2 months in August 2020. The equilibrium point where buyers and sellers have roughly equal bargaining power is 6 months of supply.
Pricing: The area’s median sales price in August was $292,550, an increase of 20.0% from one year ago and an increase of 0.7% from July. 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 August averaged 17 days on the market (DOM), 20 days faster than August 2020.
Forecast: August sales were 18 units, or 7.0%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 253 sales, and actual sales were 235 units. ACRE forecast a total of 1848 sales in the area year-to-date, while there were 1666 actual sales through August, a difference of 9.9%.
New Construction: The 64 new homes sold represent 27.2% of all residential sales in the area in August. Total sales decreased 15.8% year-over-year. The median sales price in August was $318,019, an increase of 8.4% from July and an increase of 19.6% 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 August 1 – 31, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.