Athens-area home sales increase 6% in November

Sales: According to the Athens-Limestone Association of Realtors, November residential sales in the area increased 5.8% year-over-year (Y/Y) from 173 to 183 closed transactions. Sales decreased 12% from October. Sales are now up 7.5% 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: November listings (179) were unchanged from October, and declined 28.40% from one year ago. At the current sales pace, all the active inventory on the market would sell in 1.0 months, up from 0.9 in October and down from 1.4 months in November 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 November was $299,900, an increase of 16.6% from one year ago and an increase of 0.3% from October. 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 November averaged 15 days on the market (DOM), 5 days faster than November 2020. 

Forecast: November sales were 51 units, or 21.9%, below the Alabama Center for Real Estate’s (ACRE) monthly forecast. ACRE projected 234 sales, and actual sales were 183 units. ACRE forecast a total of 2,566 sales in the area year-to-date, while there were 2,281 actual sales through November, a difference of 11.1%.  

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 November 1 – 30, 2021. Thus, the performance represented is historical and should not be used as an indicator of future results.

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